Quote:
Originally Posted by paulat585
Hi, Looking for pre-approval for new loan before I buy a house. Saw ads for this biz which seem to good to be true. Has anyone used them? Did not find any complaints on the BBB site. Thanks!
|
It's true...kind of. RP Funding and Robert Palmer spend alot of money on advertising and their spiel is "we will pay your closing costs". And that part is mostly true. There are some costs if I remember correctly cannot be paid for by anyone but the borrower. Other points and closing costs can be paid by just about anyone.
RP will pay what costs they can, BUT your interest rate will be 1/2 to 3/4 % higher that the going rate. They will get their closing costs back and much more during the course of the loan. Their salespeople are slick and well trained. And now, RP has their own Real Estate sales company.... I would run very fast and very far from this group if it were me. There is No deal to be had there. Good Luck.