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Hi,

I am looking to refinance, and I recently locked in with a mortgage broker (manhattan mortgage). I couldn’t get in touch with my old mortgage person, who had moved to chase bank. Today, I got a call from her, who I loved, and she offered me a rate of .25 less than the other rate (which is 100$/month or so, at the amount I’m borrowing).

Now obviously I’d like to go for the cheaper rate, but the broker said he “doesn’t trust Chase”. Does anyone have good reason not to? Any more than any other bank?

Also, at what point do the mortgage brokerages charge your credit card? When you get the application in, or when you lock in the rate? I’d obviously rather not pay the double application fee but if it must be done, it must. Thanks so much for your input!