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Almost passed on a $40k cash out at 6.5% because the guy at my bank in Reno kept saying "rate" like it was the only number that mattered
Sat in his office for 25 minutes while he drew rate curves on a napkin and never once wrote down the closing costs side by side. Ran the numbers at home that night and the break even was 14 months, so the rate was almost beside the point. How do you all weigh rate against fees when the loan officer only wants to talk about one of them?
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oliviahenderson15d ago
Rate is just the sticker price. Fees are the fine print that actually empties your wallet. That banker drew pretty curves for 25 minutes and never once showed you the real cost. Classic move. Always make them put rate and fees on the same page before you sign anything.
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