Steep Closing Cost And Does Not Quote Rates...
What does it mean when a mortgage company has their loan officers sale loans by not talking about the rate and the closing cost? They skirt around it by high pressure sales; selling a dream to a customer. Like cash out, consolidation and fast cash. They can even roll all the costs into the loan. Their average closing cost is about 14-15k. This is quite steep! What you make of this company? What are they trying to accomplish? One more thing, ever seen the movie boiler room? Their working environment is as such in the movie. Any thoughts?
run far away, they sound like predatory lenders to me.
why did you call them? Is your credit in very bad shape? If so, or if not, regardless, look in the yellow pages under mortgage brokers, and start smiling and dialing and find out ALL programs available to you
Now if this is for a rehab project, hard money IS steep, but if this is for a purchase money mortgage or a refi, stay clear of those people.
Yes, it sounds like they are in a boiler room just pounding away....
I agree with dave RUNNNNNNN!
I have a friend that just started working for them and had approached me on obtaining loans from them. My credit score is above 760 and he still can not get me a good rate with steep closing cost. I find it strange how they operate their business. I wanted to find out more information for him on the company and tell him to get out of that company if he had a conscience. Any thoughts?