I used Guaranteed Rates from a strong referral , was told the guy is the best of the best and will give me the lowest rate in the industry. I trusted this (my mistake) and 4 days ago locked in on 6.99% rate 30 yr fixed no point. I’m doing more than 50% down. Credit score 780+. Loan amount is $1m.
I have around 11 day left and is 95% done with the process. Then Rocket Mortgage reached out and offer 6.75% no point. I told this to my lending agent and he’s absolutely pissed. Called me unethical and this is unacceptable as we are too close to close date.
Meanwhile rocket mortgage is able to close to 10 days and feels totally happy to do it.
Of course I made a mistake here of not shopping earlier but is it worth to rock the boat to switch lender at this point to get 0.25% less rate in your opinion?
original posted by bwang29 to r/personalfinance on Sat, 02 Mar 2024 23:31:08 GMT.