their price was already good, but i had them price-match to the lowest.
but the weird thing is that the price-match worked out to be way better than what the other company was.
better originally had me at 2.125% with a decent credit (like $1k). to go down to 2.00% was like inordinate amount of dollars (like pay $2.2K, which is a swing of $3.2K, vs a loan amount of 500K, so 0.65%, or something like 6 years worth of interest).
the other company offered 2.125% with a slightly higher credit than better. But to go down to 2.000% was less than a $1K swing. So, pay $1k to reduce interest rate by 0.125%. I asked them if they can go even lower at that pay-down. I don't think lending officer wanted to check (just wanted to proceed).
When I presented that to better, they decided I should get a 1.875% with a smaller credit. Relative to the original better deal, it was a swing of almost $6.5K in my favor. it is also possible that the rate had dropped, so they were able to give a better deal.
I have no idea how they price-matched that deal.
all said and done, paid around $500K in refi-costs (everything else was prepaids).
Interest rate went from 2.75% 5x1 ARM to 1.875% 15 fixed.
I think around $18K savings in 5 years.
Not bad for a few hours of work.
I have to say my better team was the nicest, most responsive, most competent set of people.
The closing notary, on the other hand, was the biggest prik I have met in my life.
Incompetent too.
And I am still getting calls from loan depot "retention department" asking why I did not go with them.
kid you not.