(Often a competing lender will say to the client that the difference is only $X per month. This is a fantastic opportunity for you to dig just a slight bit deeper and reveal to the client what lies just beneath the surface.) So while payment difference is one thing, let’s look at what giving up that 0.05% rate difference is actually costing you: $12.37 x 60 months is $742.20. I am not sure about you, but the extra work we have done to this point, and the remaining hour of your time to meet with the lawyer and sign the final documents, seems well worth $742.20 of after-tax money to me.
