I went through through the process with RFC but did not close with them due to their LO being deceptive. I was given a Good Faith Estimate of fees being charged to do the loan. Okay, I decided to move forward. I paid an Appraiser $445. My appraisal came back the property appraised higher than what was expected. I was previously told that the maximum I could borrow was at 85% of the property value which was the loan amount on my Good Faith Estimate. I then received another Good Faith Estimate with a higher loan amount (what the home actually appraised for) and much higher fees. The company was trying to get as much as they could. It also made the difference in having to pay mortgage insurance. I went with a bank instead.
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