Question by Truth: Who sets the interest rate level for a HARP refinance condo loan?
My credit score is excellent I have never been late on my mortgage yet my current lender only wants to offer 4.125 which he says is set by HARP not by the bank. Is this true or just another scum bag tactic banks use to continue ripping off the American public. If I see rates as low as 3.6% for a 30 yr fixed why can’t I get one at this level. If he is lying how should I report this fraud?
I have decided to report the lie in this instance and I noticed all the loan reps below do not even address it. I recordered the false information this loan officer gave me about the bank having no control over the interest rate. If nothing else I hope this guy gets fired for fraud. I know the government regulators will never do a thing to protect the public from scum bag bank practices so I will not waste my time. I will never spend another nickle with this bank. I will never understand why it’s ok for people without licenses or a collage degree to sell and originate loans. I will keep shopping for an honset banker if one exists. I would appreciate better government oversight for these types of scams.
Best answer:
Answer by kemperk
http://www.harploans.com/
your lender can charge what he wishes; go to a competitor
Today’s Low Mortgage Rates
Product Rate APR Points Lock Days
30-Year Fixed 3.375% 3.487% 1 30
15-Year Fixed 2.625% 2.825% 1 30
30-Year FHA 3.250% 4.195% 1 30
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