Hi! We closed on the refinance today but I have a question. When we intially applied for the refinance we were told our mortgage payments would drop to $1000.14. However, today as I was looking over the closing papers I noticed that they have our first payment in the amt of $968. This would make the total amt that our payment dropped $111. I'm ABSOLUTELY thrilled! However, I'm concerned that this might be an error. Has anyone ever been told a higher amount for the payment but it ended up being less than you were told? If so, how did it work out? Did you end up having to pay the higher amount? THANKS IN ADVANCE>..
I'd check to make sure if the 900 payment included taxes and insurance. That might be the difference.
Yes..it did include taxes and insurance. They had it all listed and then total at the bottom. Wierd. Hope the lower figure ends up being our payment though...
I was just noting how much lower your cexpert and your experian score were.......where'd you get your exp score? I'm guessing it's true?
Re: Closed today and have a questio I have not checked my creditxpert score in ages(you know like the one you can get on eloan). In fact, last time I checked it was prior to when we purchased our home. However, all of the other scores are recent and they come from the actual credit bureaus. Maybe I will check my creditxpert score later today to see what it is. I did not worry about it anymore because it was not the one that the creditors really used. I just pulled it because it was free. OH and to update on my situation. I found out that there are two reasons for the lower payment. First, our old mortgage company did not change the amt of mortgage even though our insurance premium was lowered because of security system was installed. So the new servicer took that in account. In addition, the new lender decided to escrow less (the pad that they wanted was a little less). Then of course the interest rate dropped. So payment was lowered $111 and I'm one happy camper!
