Score up 816 from 710 Is it possible to change rate?

[Anonymous]

No good news yet, I'm waiting and waiting for the phone or a new email from my LO.

I can't wait and go to pull my Experian report myself. I didn't see a Lender to re-check or re-pull score yet.

I see my score goes up 793 from 709 = 84 points jumb not bad.

I don't want to hear the answer NO from him. I can't do it.  As I recalled (On the day I locked) he told me "if your score are high I can lock you at 4.5% since your score are not too good the rate would be 4.75%."

 What is the best reason to ask him a lower rate like 4.625%. ?

I guess my average score now around 800 I didn't check with TransUnion yet.

This LO will do for my brother as well. He took my brother application.

Message Edited by MoonLight on 02-04-2009 01:37 PM

[Anonymous]

After 3 weeks of waiting for a decision cost me around $600. Yesterday, my LO told me NO because he said "the date I locked the rate, I already put you in a very very good rate bracket". Therefore, he suggested if I want to lower my rate to 4.625% = .125% lower comparing to the rate locked.  I have to pay only A quarter of Discount Fee instead of Half of a point. I took his suggestion and pay A quarter = $1563. It'll take 2yrs and 9 months to break even. After that I'll saving $47/month. I want to buy down the rate because I think, this is a good time at record low so that I don't have to refinance in the next 10 yrs or not at all. I hope so.

I was so dumb before I paid $6500 (orgination fee) to buy the rate down but it was just last for 1.5 year. Waste too much $$$$$. Lession Learned.

Again, Please share your thought, inputs, experiences so that other people in this forum can learn from other experiences.

Message Edited by MoonLight on 02-24-2009 08:57 AM