I was working with someone but they we not delivering the results that I needed. So I found a different company that could and did. Bottom line my old comp said that they could only find me an ARM but the new one found me a fixed rate... that's what I wanted. Now how do i tell them?

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the same way you just did.

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Just be truthful, they blew it. I would just call them up and tell them you found something the better fit your needs and you are going with someone else. They hear this all the time. Just be firm and don't let them talk you into anything.

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Tell them to beat the other company's deal- that's how you tell him/her

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Just tell them. It's the way of the business world, they'll understand. A lot of times they'll counteroffer with the same or a similar one so it can be to your advantage.

You have to make the right financial decisions for you, not worry about what the lenders think.

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You should tell them very bluntly that you asked for a fixed rate and found one elsewhere. Do not beat around the bush or you will have a loan officer chasing the loan for weeks.

BTW...he probably told you he only had an ARM because he made higher commission on the ARM product. Most who qualify for an ARM also qualify for a fixed rate.

Here is some additional info. Hope this helps.

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