Complaint / review text:
I called to inquire about refinancing my current home mortgage currently with US Bank. David (US Bank loan officer) told me that closing cost would be $1500, application fee $300 and $16 credit check fee = $1816.00. David told me that the interest rate of 4.375% would be higher if I waited to lock it in the next day. Before we were done talking, I confirmed the total cost would be $1816. David agreed, that would be the cost to refinance at 4.375%. When I received the papers to be signed, it added up to over $2700.00. When I tried to contact him, it goes to voice message and he doesn't return my call at the time I requested in voice message.
When I asked about the added $100 ($1600) closing and another fee of $1500, I was told that was the "points" for that interest rate. Now he tells me that he was only giving me an estimate on closing and forgot to mention cost of "points". He is the banker/loan officer and I am the home owner. It is his job to be open to all costs/fees. Refinancing will cost me an additional $900 more than originally told by "loan officer". If I do not continue with refinancing, I will lose the $316.