Bait and Switch application tactic?

[Maurice D.]

hi,

I'm currently working with a broker (nobody here on BP) on am investment Condo refi.    it's been in the works for over a month and it's been abundantly clear it's a rental.

the first estimated (unofficial) rate quoted was 4.75%, but now he produced a 5.125 stating the earlier number was based on primary residence.

I am not buying this as a simple mistake.  he is a senior broker, you don't make rate quote mistakes like that do you?

I feel it's a bait and switch to get me hooked into processing with him.

I have an alternate internet lender that offered the same 4.7 and less fees/closing costs, thinking about switching over.

Thoughts? recommendations?

[Russell Brazil]

Guess what ....that other lender isnt getting you a 4.7% on an investment property either.