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Posted on 2/26/20 at 5:00 pm to ulsaint
Bought my home in summer of 2018. Rates were "high" then...I had 4.75%. In the process of refinancing to a 20 year, 3.25%. Knocking off a ton of interest and payments. Will definitely be in the home for quite a while so it will be a good move
Posted on 2/27/20 at 6:26 pm to Roberteaux
My mortgage banker called me yesterday with a 3.0 on a VA IRRL 30 year. Can do cash out refi if wanted. Closing costs approx $4k
Posted on 2/27/20 at 6:51 pm to OleWarSkuleAlum
Do not use the online lenders. They make it a nightmare to process, communicate poorly, and sneak hidden fees in there that you don’t notice until you’ve put in too much work to back out. Most local lenders have better fees and rates.
Posted on 2/27/20 at 9:01 pm to LSU1018
What do you guys use to find rates? Any particular sites? I'm going to be looking for one in 3 months.
Posted on 2/27/20 at 10:30 pm to kywildcatfanone
Yea I’m going to start looking to refinance now also. Any suggestions besides local banks?
Posted on 2/28/20 at 7:15 am to kywildcatfanone
Call my guy Tim Byrne at Centerstate Bank (256) 564-7628. He’s local to Huntsville, AL but can do a loan anywhere.
I was getting a loan for a property in Alabama while living in California and he makes it seamless. You can call him any hour of the day on his cell phone and he will answer. The best customer service I’ve ever seen.
I was getting a loan for a property in Alabama while living in California and he makes it seamless. You can call him any hour of the day on his cell phone and he will answer. The best customer service I’ve ever seen.
This post was edited on 2/28/20 at 7:19 am
Posted on 2/28/20 at 11:07 am to ulsaint
Got 3.125% this morning from Red River Bank. Locked that in and going to see if anyone can beat it on Monday.
Posted on 2/28/20 at 11:11 am to Golfer
quote:what are closing costs
Golfer
Posted on 2/28/20 at 11:19 am to lsujro
Lender Fees are ~$1100.
Posted on 2/28/20 at 11:22 am to Golfer
quote:
Got 3.125% this morning from Red River Bank
Have used them for both of our houses and had great experiences each time.
Posted on 2/28/20 at 11:23 am to Golfer
I imagine your loan size is under 510k?
I noticed playing around with the Zillow tool that good rates are when you cross that conforming loan limit. Otherwise, not much action.
I noticed playing around with the Zillow tool that good rates are when you cross that conforming loan limit. Otherwise, not much action.
This post was edited on 2/28/20 at 11:24 am
Posted on 2/28/20 at 11:26 am to Teddy Ruxpin
Yeah. We poor 
Posted on 2/28/20 at 11:28 am to Golfer
Eh all relative. Expensive market here.
I was just checking because I did do a spray on lending tree and went through a whole discussion just to have the guy say he couldn't do anything for us.
The conforming loan limits have skyrocketed so maybe next year if rates stay flat and we keep paying down.
We have a good rate for what we have, it just isn't 3.2.
This post was edited on 2/28/20 at 11:31 am
Posted on 2/28/20 at 1:32 pm to ulsaint
Our lender contacted us this week offering a refi from our current 4.5% to 3.375% with ~$4,000 in closing costs to be rolled into the new loan amount, nothing to pay "out of pocket" and that we'd "skip" March and April's loan payments.
We purchased in 2018 so only two years into the current 30-year mortgage.
25-year refi is ~$185/mo. less than current note.
30-year refi is ~$390/mo. less than current note.
We'll probably be in current house another 5-8 years then upgrade.
Seems either refi is better than where we are now, but what do y'all think based on above?
We purchased in 2018 so only two years into the current 30-year mortgage.
25-year refi is ~$185/mo. less than current note.
30-year refi is ~$390/mo. less than current note.
We'll probably be in current house another 5-8 years then upgrade.
Seems either refi is better than where we are now, but what do y'all think based on above?
Posted on 2/28/20 at 3:14 pm to Jwodie
quote:
Our lender contacted us this week offering a refi from our current 4.5% to 3.375% with ~$4,000 in closing costs to be rolled into the new loan amount, nothing to pay "out of pocket" and that we'd "skip" March and April's loan payments.
frick that. That's not out of pocket. You're paying for it. It's just not upfront. You can get way better deals.
I got 3.375 for $600 after lender credits.
Posted on 2/28/20 at 3:35 pm to Jwodie
quote:
25-year refi is ~$185/mo. less than current note. 30-year refi is ~$390/mo. less than current note. We'll probably be in current house another 5-8 years then upgrade. Seems either refi is better than where we are now, but what do y'all think based on above?
What about 20 yr?
Posted on 2/28/20 at 4:08 pm to Roberteaux
10/1 rates are stupid today around 2.625-2.75 if anyone wants to call their banker or broker over the weekend. 10 yrs have moved more than the 30’s so its an option everyone should look at if they are considering refi’ing. Most of you won’t live in the house your in for more than 10 years anyways.
Posted on 2/29/20 at 7:38 am to HYDRebs
I locked a 2.75% 15yr refi on Thursday. Gotta say I’m pumped shaving 10 years off my mortgage.
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