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Started By
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Anybody refinancing today?
Posted on 2/24/20 at 3:00 pm
Posted on 2/24/20 at 3:00 pm
I did once already, but going to again. Can basically get 3.37% 30 year for free with lender credits. Might as well. Paperwork is kind of a pain but can't see rates being much lower than that. I thought I got a steal when I had 3.75 7 years ago.
I shouldn't say free. It's about $600 which is about a 10 month break even for me.
I shouldn't say free. It's about $600 which is about a 10 month break even for me.
This post was edited on 2/24/20 at 4:21 pm
16
Posted on 2/24/20 at 3:13 pm to ulsaint
I'm at 3.75 right now. I'm not refinancing unless it's at least below 3.
Posted on 2/24/20 at 3:17 pm to ulsaint
already in the middle of a refi and forced my loan officer to adjust to lower rate twice, currently at 3.25 APR
This post was edited on 2/24/20 at 3:18 pm
Posted on 2/24/20 at 3:18 pm to audioaxes1
I'm currently at 3.5%, refinanced last August
Posted on 2/24/20 at 3:21 pm to ulsaint
Just refi’d into 3.375. I imagine that’s my last one unless I need major home upgrades
Posted on 2/24/20 at 3:41 pm to ulsaint
It’s beneficial enough for with fees to refi 3.7 to 3.3? How much are refi fees? I looked into it didn’t make much sense for my situation.
This post was edited on 2/24/20 at 3:42 pm
Posted on 2/24/20 at 4:19 pm to tigersfan1989
quote:
It’s beneficial enough for with fees to refi 3.7 to 3.3? How much are refi fees? I looked into it didn’t make much sense for my situation.
For me it was. The lender credits basically wiped out all but $1,200 in fees and then since I had just recently refinanced, they waived the appraisal knocking it down to a total of about $600 out of pocket.
Break even for that is 10 months and lifetime interest saved is $21,000.
I just wanted to lock in a super low rate and I'm willing to shell out $600 since I know we'll be here longer than a year minimum.
This post was edited on 2/24/20 at 4:20 pm
Posted on 2/24/20 at 5:13 pm to ulsaint
Anyone know what 15 year rates are?
Btw I’m at 4.75%
Btw I’m at 4.75%
This post was edited on 2/24/20 at 6:06 pm
Posted on 2/24/20 at 6:15 pm to ulsaint
Are you using a large scale company ie Wells Fargo? Or someone local? Wells Fargo is who I talked to
Posted on 2/24/20 at 7:49 pm to ulsaint
Ya I went in this past weekend to talk numbers with the bank. Offered 3.375% with about $9k in closing which includes Taxes (roughly 6 mths.) and Insurance.
Posted on 2/24/20 at 8:56 pm to Roberteaux
My 15 year is at 3%. Refinanced from a 30 year at 4.5% in November for $2500.
Posted on 2/24/20 at 9:01 pm to Snek
Nice. Who did you use ?
Posted on 2/24/20 at 10:32 pm to ulsaint
How far would mortgage rates drop if the fed lowers (perhaps twice) this year?
Posted on 2/25/20 at 6:11 am to Roberteaux
Checkout your local federal credit unions. Locked up a 15 year at 2.625%
Posted on 2/25/20 at 6:48 am to ulsaint
Care to share some info on lender credits? I havent considered refinancing, but im at 4.35 percent. Seems now may be the time
Posted on 2/25/20 at 6:56 am to Dayman
What is anyone's qualifications for selecting one lender over the other with regards to who to take out a mortgage with?
Is it simply the fees they charge, the %, both, something else?
I guess I'm trying to decide if a local bank would give me 3% on a 15 with $2K in fees, and Chase/Wells Fargo/etc would give you 2.75% with 1K in fees, is one better than the other?
I've had 2 mortgages in my life with local banks, and both were sold to larger mortgage companies, so I don't think they have to keep you if you go with one anyway, just curious.
Is it simply the fees they charge, the %, both, something else?
I guess I'm trying to decide if a local bank would give me 3% on a 15 with $2K in fees, and Chase/Wells Fargo/etc would give you 2.75% with 1K in fees, is one better than the other?
I've had 2 mortgages in my life with local banks, and both were sold to larger mortgage companies, so I don't think they have to keep you if you go with one anyway, just curious.
Posted on 2/25/20 at 7:08 am to kywildcatfanone
Yea I really don’t care who it’s with as long as it’s the best deal. Like you said most mortgages are sold off anyways.
Posted on 2/25/20 at 7:46 am to tigersfan1989
First internet bank of Indiana. They’re real. I used them earlier no problem. They send a mobile notary.
Got similar rate with Texas home trust bank.
Just search in bank rate.
All the major banks are way more expensive. The mortgage usually gets sold right after you close anyway. It doesn’t matter imo.
Just go with the cheapest.
Got similar rate with Texas home trust bank.
Just search in bank rate.
All the major banks are way more expensive. The mortgage usually gets sold right after you close anyway. It doesn’t matter imo.
Just go with the cheapest.
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