Hello, first time home buyer here and would like to consult the wisdom of TI
The builder just notified me that the COE date has been delayed by a week. I locked the rate with the builder's preferred lender (Wells Fargo), but the rate lock expires before the new COE date. Wells Fargo said they can charge a rate lock extension fee of 0.25% for 2 weeks (min duration).
Does anyone have experience with this? I'm planning on talking with the builder to see if they can cover any part of the fee, but would like to know if anyone were able to get the builder to pay for the fee.
Thanks.
The builder just notified me that the COE date has been delayed by a week. I locked the rate with the builder's preferred lender (Wells Fargo), but the rate lock expires before the new COE date. Wells Fargo said they can charge a rate lock extension fee of 0.25% for 2 weeks (min duration).
Does anyone have experience with this? I'm planning on talking with the builder to see if they can cover any part of the fee, but would like to know if anyone were able to get the builder to pay for the fee.
Thanks.