The thing about lender fees is they often make what would otherwise be a great deal into just a mediocre one, or maybe even a bad one. Refinancing is about more than just interest rate. How much does it cost? What do you save on your payments each month? How soon will you recover that cost through monthly payment savings? That calculation is called “break-even,” and it’s a critical calculation your loan officer should be performing for you. Very often, the lowest rate isn’t the best deal because it takes far to long to recover the cost of obtaining that lower rate. Finding the perfect balance of low interest rate and low closing costs is key.
By offering a $1,500 lender credit on refinances, our loan officer Seth Erickson at Planet Home Lending improves your break-even point. Get a no-pressure estimate today and Seth will show you a range of options and run a break-even calculation for you. No games, no “hiding” closing costs in your loan amount, no false promises. You deserve a transparent estimate, and you’ll get one with Seth.