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Senior Member
Join Date: Jun 2000
Location: N. Phoenix AZ USA
Posts: 28,977
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Rick,
I went to my old lender when I was looking to move and gave them the first shot. Told them I was relocating from Dallas to Phoenix and would be needing a new loan. Was ready to pay 20-25% down and wanted a good rate.
They went in their computers and after seeing my FICO (780 or so) they came back with a very good offer. Two years later I wanted to re-fi and again went back to them and made them the offer of doing a re-fi with no points or minimal charges or I could go elsewhere. Again they did the total re-fi for about $350 and my loan rate went down by 1%.
If your existing morgage holder is happy with you and your FICO is good then you hold most of the cards. Push the limits and tell them that you are not paying PMI, points and so on or you will go elsewhere. They do not want to lose the business and usually will match others offers as the paperwork is minimal for them where-as you start over with other companies.
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2021 Subaru Legacy, 2002 Dodge Ram 2500 Cummins (the workhorse), 1992 Jaguar XJ S-3 V-12 VDP (one of only 100 examples made), 1969 Jaguar XJ (been in the family since new), 1985 911 Targa backdated to 1973 RS specs with a 3.6 shoehorned in the back, 1959 Austin Healey Sprite (former SCCA H-Prod), 1995 BMW R1100RSL, 1971 & '72 BMW R75/5 "Toaster," Ural Tourist w/sidecar, 1949 Aeronca Sedan / QB
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