CAN THE LENDER DO THAT? - Posted by GREEKVESTOR
Posted by GREEKVESTOR on January 08, 1999 at 24:05:20:
Last week a lender approved me for a refi loan. I left the rate floating. Today the lender advertized a rate of 6.625% at 0 points. When I called him to lock such rate, he said that it’s 6.75% at 0 points.
Can the lender do that? I’ve seen his rate advertized on the internet! Can he put-out a lower rate than the one he’s willing to give you? or is that what all lenders do when one calls-in to lock his rate?
Any suggestions or recommendations/
I know that rate differential is minimal in my situation.Besides that, the “principal” is most important.