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Mortgage refinance inquiry
Posted on 7/30/19 at 8:23 am
Posted on 7/30/19 at 8:23 am
I’m looking for lenders capable of providing mortgage loans in Texas. Current rate at 4.625 and it seems like a good time to refinance with quotes around 3.875.
I work for a big 4 firm, so 1/4 of the lenders are off limits for me. I went through the process with small national lender only to find out they were restricted entity for me.
Last bank was offering 3.875 refi with $6k credit towards closing costs.
Can you suggest some lenders for me to research?
I work for a big 4 firm, so 1/4 of the lenders are off limits for me. I went through the process with small national lender only to find out they were restricted entity for me.
Last bank was offering 3.875 refi with $6k credit towards closing costs.
Can you suggest some lenders for me to research?
8
Posted on 7/30/19 at 8:24 am to Larry Gooseman
Mortgage rates could drop further after Wednesday's Fed announcement...
Posted on 7/30/19 at 8:36 am to Larry Gooseman
Who do you bank with? Have you talked to them?
If a small local lender funds the mortgage and then 2 months later sells it to a national lender that is on your independence list, is that a problem? Or is it that you simply can't make the original loan with someone on the list?
If a small local lender funds the mortgage and then 2 months later sells it to a national lender that is on your independence list, is that a problem? Or is it that you simply can't make the original loan with someone on the list?
Posted on 7/30/19 at 8:38 am to Niner
quote:
Mortgage rates could drop further after Wednesday's Fed announcement...
Not neccisarily, just because the fed drops rates doesn't guarantee mortgage rates will drop.
Posted on 7/30/19 at 9:01 am to Mingo Was His NameO
quote:
Not neccisarily, just because the fed drops rates doesn't guarantee mortgage rates will drop.
I agree - that's why I said "could". I would say it's more likely than not, though.
Posted on 7/30/19 at 9:12 am to LSUFanHouston
My original lender isn’t offering a good deal or willing to match. Nothing you can do if your loan is sold to restricted entity.
Posted on 7/30/19 at 10:31 am to Larry Gooseman
Call Jude Bridwell with Assurance Financial. He’s in Prairieville. He’s always done well for me and others I’ve talked to.
Posted on 7/30/19 at 1:40 pm to Larry Gooseman
I work for a Texas bank that services their own loans and does a fair amount of business in the Heights as well. (Office out of Houston) Feel free to reach out to my email which I have in my bio. My username gmail
If you do end up refi'ing with whomever you may want to consider looking into 20 year term instead of 30 year. They seem to be priced with a better spread than I've seen in awhile. Locked one at 3.5% yesterday.
If you do end up refi'ing with whomever you may want to consider looking into 20 year term instead of 30 year. They seem to be priced with a better spread than I've seen in awhile. Locked one at 3.5% yesterday.
Posted on 7/30/19 at 6:16 pm to Larry Gooseman
PrimeLending has plenty of branches in Texas. They are audited by PWC.
Posted on 8/1/19 at 1:54 pm to Larry Gooseman
If this is a large institution offering $6k in credits, who would that be? I'm looking to refi as well after entering into a mortgage in November. Obviously trying to avoid as many costs as possible that I paid less than a year ago.
Posted on 8/1/19 at 10:28 pm to Drive4show
Provident Funding
Posted on 8/1/19 at 10:52 pm to Larry Gooseman
Looks like they don’t write in Louisiana.
Posted on 8/2/19 at 10:33 am to Larry Gooseman
Try better.com: https://better.com/mortgage-rates/refinance
Posted on 8/2/19 at 10:57 am to wileyjones
Be very leary with online lenders. They can make the process a pain. I would suggest quoting 3 or 4 places local.
Posted on 8/2/19 at 9:02 pm to LSU1018
For what it’s worth, my LE from them was 3.2% a month ago. Anyway, worth a look.
Posted on 8/4/19 at 8:03 am to HYDRebs
Where’d you get the 3.5? I’m about to refinance and that’s what I want my rate to be.
Posted on 8/6/19 at 10:29 am to Larry Gooseman
i might can help i work for Hancockwhitney and we provide mortgages in Texas. who is on your excluded list?
Posted on 8/6/19 at 10:57 am to hawkeye007
When does it actually make sense to refinance a 30 year mortgage. I'm 30 years at 4% interest
Posted on 8/6/19 at 11:10 am to ScaryClown
The rule of thumb is if you can drop 1%, anything under that may not be worth your time unless you need the cash flow to spread-out over new years.
I'm currently looking to switching from a 30 year to a 15 year. I have about 22 years left on mine, and the rate drop will keep my notes the same (I think it goes up $50).
However, I keep getting info on 5/1 & 15/1 ARMs. Does anyone know the benefit of an ARM in a low interest rate market. Wouldn't the incentive be to try to lock you in at a rate much lower than the market since it'll adjust in 5 or 15 years? The quote I received was for 3.5% and my 15 year is coming in at 3.15%. I'm not going the ARM route, just looking for some insight from the resident Finance/Banking posters.
I'm currently looking to switching from a 30 year to a 15 year. I have about 22 years left on mine, and the rate drop will keep my notes the same (I think it goes up $50).
However, I keep getting info on 5/1 & 15/1 ARMs. Does anyone know the benefit of an ARM in a low interest rate market. Wouldn't the incentive be to try to lock you in at a rate much lower than the market since it'll adjust in 5 or 15 years? The quote I received was for 3.5% and my 15 year is coming in at 3.15%. I'm not going the ARM route, just looking for some insight from the resident Finance/Banking posters.
Posted on 8/6/19 at 11:14 am to Weekend Warrior79
quote:
15 year is coming in at 3.15%
Where did you get that from?
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