Is it worth paying more for a bank that actually communicates...

[Steve DellaPelle]

Cash-out refinance on my investment property out of state...

Bank 1 - $150,000 30 Year 4.85% (4.97% APR) $4,000 Closing Costs $46,000 Cash in my pocket after refinance

"Big Bank"

- Horrible communication

- Closing set for end of December, have not heard back from them in 2-3 weeks

- No response to my emails or calls

- Good rates and my current bank so convenient to use

Bank 2 - $153,000 30 Year 5.5% Closing Costs Rolled into Loan $50,000 Cash in my pocket after refinance

Loan Depot

- Communication is much better

- Process is streamlined (They have all underwriters, etc. working for them)

- Less Closing Costs

- Rates are higher

Is it worth going with Loan Depot over the "Big Bank"....aka pay more for the convenience and less of a headache?