Posted by Zena Ford on August 08, 2003 at 19:05:34:
I am a Mortgage Loan Advisor in San Jose, CA and in my opninion - IF you have the time and the Seller is willing - there would be little harm done in getting an approval with another Broker to see if a lower rate is available. You don’t have to ditch the other loan…yet.
Many a Broker would jump at the chance to compete for your business and do their best to beat the other guy.
Normally, I would be against such a thing - but if I had forgotten to lock my Client’s rate and they got stuck with a higher one, I would fully understand if that Client abandoned my services.
On the other hand, if you go with the higher rate - as your husband wants to do - you will have a higher deduction than with the lower rate.