FYI - As the owner of a small mortgage company I wanted to give you a freebie about your mortgage. No matter what, people are getting paid on your mortgage. When you shop for a mortgage and someone gives you a rate over the phone do two things, PLEASE!
1. go to bankrate.com or wellsfargo.com or some site where you know you are getting decent information and see what the going rates are on the type of loan you are looking for. if you are getting quoted a rate that is not on one of those sites the person is LYING TO YOU. Go against your gut, against your hopeful wishes and don't waste your time. The rate doesn't exist, don't let false hope compromise your financial situation. It's not worth it.
2. demand from your representative a copy of either a. a FULL APPROVAL or b. the RATE SHEET they are quoting the rate off of. if they won't give you either before you get to the final documents you are getting screwed for sure. Same goes for the TIL.
P.S. the GFE they send you will be good for two things: starting the fire in your fireplace or lining your pet's cage. nothing else.
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