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- Dec 9, 2002
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TheProwler said:anyone recommend one lender over another? I need to hurry up and choose one today or tomorrow.
I narrowed it down to THE vs. US Bank, and then the accountant I'm dating very kindly did a current value of annuity calculation that determined that at 1.3% repayment bonus, THE is the better deal, and remains the better deal even if they drop the repayment bonus to 1%. If it drops all the way to .5%, it's about $3000 more over the life of the loan. I've also heard here that the service is better with THE. Plus it appears US Bank capitalizes your interest when you go from grace period to deferment and again when you go into repayment, whereas THE only does it once. I don't know how much that saves, though.
So anyway, I went with THE.
Of course, the quality of the service of the lender doesn't matter if they sell your loan later to some jerky company.