Oh they definitely selling it they always do
I have never had a loan original or refi end up staying with a bank. Shoot Wells Fargo sold my mortgage to US Bank years back and no my wife and I are not high risk borrowers.
Just to add to my story, so when we first got the offer we were dubious, fly by night company was our thought, asked to meet with them at their office. Office was in Fairfax. Meet with them talked about no points, no closing costs, etc. Wife realized we had gotten a loan offer from the same guy when we first bought the house.
Got the closing disclosure which shows fees, etc. and $3.6K due. Verified with the Principal mortgage lender via email that the closing costs listed which it shows is for the escrow account. The payoff amount for existing loan is within $3K of what I owe.
Going from 30 year loan at 4.25% to 20 year loan at 3.5%, saving $30 dollars a month and $50K in interest assuming I don't pay more each month.
HokieForever
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In response to this post by CPRVHokie)
Posted: 03/05/2020 at 8:38PM