Iconic Mortgage & Real Estate Corp out of Miami, Florida is offering me 5.74% IRRRL/ 30yr fixed / 0 points / $3k closing costs + taxes&escrow. They also provided documentation stating that initial interest rate is eligible to apply for a 1 POINT RATE reduction in month 12.
Company seems legit. I verified their license, called POCs, back using phone number published online. They said they are a broker for United Wholesale Mortgage.
This offer seems really competitive, almost suspiciously good, but cant find the catch. Has anyone have any experience with this company and this 1pt rate reduction?
Anyone have experience with Iconic Mortgage? Offering 5.74% IRRRL 0 pts
byu/Radar2379 inMilitaryFinance
Posted by Radar2379