Hi all,
I’m refinancing my house and want to roll closing costs into the mortgage and I’m really confused. I’m hoping someone can show me the light. I signed the initial loan disclosure and these were the closing costs: https://imgur.com/a/Xs09p85 which has $489 to borrower.
Here is what they want me to sign now, but haven’t offered an explanation: https://imgur.com/a/45hshe8. This shows $1780 from borrower. So that is a $2,269 swing. I don’t understand what that is from. The loan officer said it’s from taxes increasing. Which I do see that, but that does not account for the entire $2,269.
What am I missing? They couldn’t explain it to me, so I was hoping someone here could. I was planning to try and talk to them again tomorrow and get an answer. Sorry I don’t understand all of this all that well. We were locked in at 3% 30 years with $274 in credit. I told them that I wanted closing costs rolled into the mortgage. They initially did that and I had $489 to borrower. APR was 3.07%. So I was happy with all that. Now I have to bring $1,780 to closing and I don’t understand.
Thanks in advance!
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