Can a loan origination fee (or part of it) go to buy down the interest rate?
I am in the process of doing a mortgage loan and one of the conditions was that I would not pay an origination fee. Now the loan officer is telling me that part of the origination fee that I see on the GFE is going to buy down the rate.
I’m talking interest rates, loan origination fees, closing costs, etc. Any cost associated with the mortgage process.
Amegy, Well Fargo, Citi
I have heard Bank of America is terrible, which is why I didn’t include them.