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Hello. My name is Alex. Thank you for your question.I will be happy to provide you with information you are seeking for educational purposes only.
Do you have anything in writing from Band of America that guarantees you the 3.5% rate at the closing of the refinancing?
Do you understand that an estimate is not legally binding, but simply that, as estimate or approximation?
Thank you for your follow up.
Unfortunately the banks in fact can legally fluctuate from the estimates to the actual interest rate and in some cases such fluctuation can be 1% or more and unfortunately, because even written estimates are not legally binding on the banks, but simply an approximation, there is generally no legal recourse is the actual rate increases prior to the closing and there are currently no class action lawsuits, since there is no legal violation is present under the facts similar to the ones you have described.
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I wish you the best of luck and God bless you!