Mortgage Broker vs Bank of America, decide what you?

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My broker wants amout the following for a loan of about $ 242 k. costs and the current best available rate of about 6% reported 30 years festgesetzt.Taxe processing fee income $ 300 $ $ Expenses 350Underwriting 700titile insurance costs $ 1100 closing paid $ 2450YSP Broker 1.5%, istmonatliche payment would be $ 3,663 $ 1,805 brokers said, PMI, it is how we put 5% after unten.Nun Bank of America told me that the same income of $ 250K, 30 year fixed, 10 % down, which has $ 225K loan rate of 5.500% 3.552% discount point, but that $ 7992 I paid in, but no PMI Compare the reaction of 10% under curfew or nurkeine Leihgebühren.Wenn you best, see BOA broker or thr? about everything, where I lose more money, I? BOA has no PMI which means I’m over $ 100 a month for several years right magazine? I think that despite the high point discount $ 7992 I still think BOA is much better than the low interest rates and other fees and no PMI.

  1. Reply
    Christine L
    May 4, 2011 at 12:01 am

    Bank of America

  2. Reply
    May 4, 2011 at 12:50 am

    I would do almost anything to avoid doing business with BoA. Every time I’ve done business with them in the past, I got constant hassles and errors from them.

    The closing cost you mention is the total of the other costs you mention before it. In other words, those are the individual closing costs and that’s the total of them.

    I would also compare other brokers.

  3. Reply
    May 4, 2011 at 1:01 am

    Have both of them work up your loan to the point of DOCs, chances are BofA will back out on the deal at the last minute and when you go back to your Broker with your tail between your legs he may hit you with an additional “fee” to spite you.

    Better safe then sorry!

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