Search found 62 matches

by nic3456
Tue Nov 03, 2020 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

I've got a general refinance question. I am looking to refinance my current mortgage with a cash-out refinance to help fund a home remodeling project. I live in Columbus, OH and our lender (Union Savings Bank) has local branches here in Columbus where my loan officer works out of and my closing was...
by nic3456
Tue Nov 03, 2020 7:28 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

I've got a general refinance question. I am looking to refinance my current mortgage with a cash-out refinance to help fund a home remodeling project. I live in Columbus, OH and our lender (Union Savings Bank) has local branches here in Columbus where my loan officer works out of and my closing was...
by nic3456
Mon Oct 26, 2020 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

My loan closed on 10/16 and was supposed to fund on 10/21. The lender sent the funds to the wrong title company so now everything won't fund until today. I prepaid interest starting on 10/21 - should it be automatic that I get refunded those 5 days of interest or do I need to try to get from lender/...
by nic3456
Wed Sep 23, 2020 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Seems being so far out of the sweet spot is really hurting us. 25YR remaining/$108k at 3.99% in Ohio. Anything no-cost is being quoted 4% or higher. I do have reasonable 15YR options with our credit union. Excluding escrow: 2.5% for $3319 2.25% for $3866 Possibility for $485 appraisal waiver. Keep ...
by nic3456
Mon Sep 21, 2020 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

I've seen a couple of people with good calculators, but can't find one for comparison - trying to determine if I should take a 2.75% loan with $0 credit or a 2.625% loan with $1,000 credit ($330K cashout loan). I'm hoping to refi in 6 months, but who knows with rates.
by nic3456
Thu Sep 17, 2020 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Well... LC just got back to me after 2 weeks of waiting and what can I say, it was worth the wait... A=0 A+B+C= $1,390 E+F+G+H=906 Total=$2,296 Lender Credit=$2400 Total costs=. -$104 Rate of 2.5% for 25 yr and 30 yr loan Which would you take? I'm going with loan cabin since I'm not in a hurry :) N...
by nic3456
Fri Sep 11, 2020 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Not sure how quick other lenders will follow but just got this email from Better “Lock now — prices go up on 9/21 As you may know, the FHFA has introduced a 0.5% fee on all refinance loans funded after November 30, 2020. That means you must lock a rate before September 21 to avoid additional costs. ...
by nic3456
Wed Sep 09, 2020 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

For those that have done multiple Better refi's - did you have to create a new account for the 2nd one? When I go into my current account and start a new refi it always just links me back to my old/original one that's complete.
by nic3456
Wed Sep 09, 2020 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Geez LC keeps coming back with better deals, which I do not think WM can match even with a float down before our closing. Reason being is LC doesn't seem to charge anything in Item line A while WM has a $1500 fee. Just got an updated LE from LC, same rate as yesterday 2.625% but lender credit bumpe...
by nic3456
Tue Sep 08, 2020 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Thanks for this. I came back to LC to ask and they re-ran it thru the other lender and appraisal is now waived. I just got back a new LE with appraisal gone and the $100k cash out refi is now 2.625% 30 year and I am getting back an extra $200 bux at closing for a total cash to borrower of $100,200....
by nic3456
Tue Sep 08, 2020 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Just when I thought I was set with WM, LC just emailed me a revised LE with today's rates/credits. For our $100k cash out refi: 30 yr fixed - 2.625% with a lender credit of $2500 (will cover closing costs in full- $0 cost cash out refi). 30 yr fixed - 2.5% with a lender credit of $1000 30 yr fixed ...
by nic3456
Fri Sep 04, 2020 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Oh wow! I guess I should have added that it is somewhat state dependent and have heard that CA has been faster (as they have many more agents)
by nic3456
Fri Sep 04, 2020 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Man, I should have read this thread before locking my refi. Location: Chicago, IL Current: 382k remaining on 30 year fixed at 3.85% with 26 years left LTV: 75% Locked (Yesterday): Better 30 year fixed 2.875% ($1k) credit which means $1k cost for closing (A + B + C + E = $2k) I just found a lower ra...
by nic3456
Fri Sep 04, 2020 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Well now...just got a reply from Loan Cabin. This is for a $100k cash out refi mind you.... "Here are today’s offered rates – please let me know which option is most attractive to you. 30 yr fixed – 2.5% @ PAR, no lender credit/no discouny cost 30 yr fixed – 2.375% with a discount cost of $235...
by nic3456
Thu Sep 03, 2020 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Anyone have stats/guesses at how many lenders use the newer 45 day rule of mortgage shopping vs the old scoring of 14 days for credit impacts?
by nic3456
Wed Sep 02, 2020 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Hi all, LF offered 2.5% on a 30 fixed with just escrow at signing (~$3k). Lender credit is $2,305. When I reminded them I want a 25 year (which is what we're on now), all they adjusted was the term (but rate stayed at 2.5%). Two quick questions for you going through this recently: should the rate c...
by nic3456
Tue Sep 01, 2020 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

I put my money where my mouth is and applied with Third Federal for my small loan balance. I'm in NH, owe 127k on 260k (49% LTV) and currently am in year 6 of a Penfed 5/5 at 3.3125%. I applied for Third Federal's 10 year fixed at 2.79%, fixed $295 closing costs. I could maybe get closer to 2.5% on...
by nic3456
Tue Sep 01, 2020 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Option 1: 30 year 2.875% no cost loan. 100% cash out monies receieved. Option 2: 30 year 2.5% with $4500 to close. Will be taken from our cash out monies to pay closing costs. LO mentioned he would do Option 1 to get full cash out monies and said come back to him in 6 months to refi and lock in a l...
by nic3456
Tue Sep 01, 2020 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Can someone help explain the Lenders Title Insurance? - in July/Aug I did a refi in OH for $283K and the lenders title insurance was $540. I'm now doing a cashout refi with a loan balance of $330K. I've got 3 quotes so far and they are all ~$1100 (including Radian). Is changing the loan amount that ...
by nic3456
Thu Aug 27, 2020 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

They provide good services such as lying to your face and bad mouthing how another lender would break the law, change your terms and "force" you to close on the refi lol..... :oops:
by nic3456
Thu Aug 27, 2020 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Anyone receive quotes from LC recently? Their return emails still state they are working on apps from 7/31, but its been that way for a couple weeks now.
by nic3456
Thu Aug 20, 2020 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

7/18 Locked LE w/Better. Got them to reduce the rate twice using other LEs. 8/19 Signed Closure Docs w/Notary 8/24 Funding Date Loan 2.75%, 20 year, $230K Loan, California. Primary Residence, No Escrow account. LTV 20%. (A+B+C = $1165) and a $210 Lender's Credit . Qualified for AMEX Rebate $2500 wi...
by nic3456
Tue Aug 18, 2020 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Has anyone done a cashout refi with Loan Cabin (or even got a LE)? I'm wondering if their calculator on the webpage is working because I haven't got another lender to come with 50 basis points of what LC website says (2.375% with ~$1K in costs) I'm guessing I'm at least 7-10 days away from LC gettin...
by nic3456
Sun Aug 16, 2020 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Watermark must be cross referencing my internet history and seeing BH lol- 3x I've filled out the form to get a free quote, but never get anything (checked spam).
by nic3456
Thu Aug 13, 2020 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

My lender credits with Better dropped about $700 last month after rate lock because my appraisal came in lower and bumped me into a new LTV bracket, FWIW on the rate lock mine was expiring today with Better and they extended with no increased cost from the Fannie change (supposed to close early next...
by nic3456
Wed Aug 12, 2020 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Burningmustard wrote: Wed Aug 12, 2020 11:27 am Is refinancing a mortgage and HELCO into a single mortgage considered a cashout? Combined they are about 60% LTV.

Thanks!
Yes
by nic3456
Wed Aug 12, 2020 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Does anyone know a way to "get in line" with Loan Cabin without a hard pull? It seems the only way to start is to submit the app and allow a hard pull. From what I've read they are running 3+ weeks behind from even calling people to start. I dont want my credit pulled for a least a few we...
by nic3456
Wed Aug 12, 2020 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Does anyone know a way to "get in line" with Loan Cabin without a hard pull? It seems the only way to start is to submit the app and allow a hard pull. From what I've read they are running 3+ weeks behind from even calling people to start. I dont want my credit pulled for a least a few wee...
by nic3456
Tue Aug 11, 2020 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

So who's been the best for cashouts? It appears the Lender Fi doesn't appear to do them. Loan Cabin looks very promising, but almost to the point that I'm not sure their online calculator is acting factoring in the cash?
by nic3456
Sat Jul 25, 2020 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Has anyone gotten a good rate with no closing cost on a cash out refi? It seems several of the lenders aren't even bothering with them while others are tacking on quite a bit of fees/higher rates
by nic3456
Thu Jul 23, 2020 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

is there a way to see Loan Cabin or Loan Depot rates without applying? I can't seem to find rates for either?
by nic3456
Thu Jul 23, 2020 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Just closed with Better two days ago 3% 30-year. Apply with LenderFi today and had this exchange with the Loan Officer: Him: You literally JUST closed your loan and you’re looking to refinance? Why would you close and do this? You’re going to cost that other bank $8,000+ in penalties for doing that...
by nic3456
Mon Jul 20, 2020 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Has anyone gone past their rate lock timeframe with Better? Mine is about to expire (because the subordination on the HELOC is taking forever). Trying to determine what might happen and Better is very slow with communication.
by nic3456
Thu Jul 02, 2020 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Getting annoyed with Better - my loan was progressing fine, then they randomly reduced my lender credit by $700 with no explanation and haven't responded to emails for 6 days. On a side note has everyone closings been in person or virtual? I recommend saving your loan estimate immediately after you...
by nic3456
Wed Jul 01, 2020 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Getting annoyed with Better - my loan was progressing fine, then they randomly reduced my lender credit by $700 with no explanation and haven't responded to emails for 6 days.

On a side note has everyone closings been in person or virtual?
by nic3456
Thu Jun 25, 2020 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

I just locked in a 2.5% 30 year 15/15 Arm - 0 Points - loan amount 260K. We'll have about $4400 in closing cost that are being rolled in. Going from a 30 year 3.875% (24 years left) to 2.5%. We'll continue to pay the same amount and have it paid off in 15 years. Likely i'll just get tired of having...
by nic3456
Mon Jun 22, 2020 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Just to update you all on my Better refinance. I’ve hit my first head scratcher. Yesterday my estimated closing costs and cash to close were the same amount, $2600. Now today, the loan estimate has changed and the closing costs are still $2600 but the cash to close is now $3600. I was fine with $26...
by nic3456
Thu Jun 18, 2020 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

I already did appraisal with Better.com and have the report, but I may have to find a new lender now because Better.com has some issue with my 2nd mortgage that I’m keeping. They were supposed to let me know whether they can proceed by yesterday, but they didn’t. Better.com was really good when the...
by nic3456
Thu Jun 18, 2020 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Its about 2700 sq ft - I'm wondering if its due to the fact that the tax records show we only paid $100K (we bought the land and then built a house) -perhaps going from $100K to $400K in 4 years triggered something
by nic3456
Thu Jun 18, 2020 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Has anyone had their appraisal done from Better yet? The appraiser called me yesterday to setup appt and mentioned that he hasn't done very many like this (photos of every room, etc) and he expects to be here for 2 hours! It sounds more like an inspection vs an appraisal. I was kind of surprised the...
by nic3456
Wed Jun 17, 2020 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

In OH - best rate I've been able to find has been Lenderfi - 3% with $170 out of pocket (excluding prepaids). I sent them an email for their best offer after I applied - was able to get Better to match that with another $1,000 savings & AMEX $2500. Pretty pleased at the moment
by nic3456
Fri Jun 12, 2020 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Went from 4.125/30 year to 2.75/20 with better.com. Applied through both lenderfi.com and better.com, lenderfi offered 2.75 with $1,000 in closing cost, better matched it and added $1,000 so ended up with no closing costs. Very smooth process so far with better. Lenderfi rate was higher when I star...
by nic3456
Fri Jun 12, 2020 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

I'm looking to do a refi with some cash out. Even though my new LTV will only be about 65% lenders are charging higher rates for this. Is it possible to do a refi now with the cash out and then start a new refi right after closing to get the best rates?
by nic3456
Thu Mar 26, 2020 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

What lender? All the ones I keep checking with are trying to add $ or higher rate with cash out (even though I’m only wanting like 30k)
by nic3456
Tue Mar 24, 2020 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

BruDude wrote: Tue Mar 24, 2020 12:14 pm PenFed is back down to 3.125% on a 30-year fixed with 0 points today. 15-year rate is still high at 3%.

Does Penfed have a 1% Origination fee for all refi’s? Have been trying to confirm but can’t get someone on phone
by nic3456
Fri Mar 20, 2020 6:20 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560957

Re: Refinance Mega Thread

Current rates from Penfed - this should tamp down demand! :shock: I’ve never seen such high points!

RATES POINTS APR AS LOW AS1
5.625% 2.875 5.928%*
5.500% 3.500 5.861%
5.375% 3.750 5.757%
by nic3456
Fri Mar 06, 2020 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: 30 year mortgage under 3%
Replies: 301
Views: 47438

Re: 30 year mortgage under 3%

Nice - what lender?
by nic3456
Fri Mar 06, 2020 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: 30 year mortgage under 3%
Replies: 301
Views: 47438

Re: 30 year mortgage under 3%

I’m not seeing a way to apply for a refi or to view fees - am I missing it somewhere? I don’t want to enter info and wait for a call assuming that won’t lock anything in
by nic3456
Fri Mar 06, 2020 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: 30 year mortgage under 3%
Replies: 301
Views: 47438

Re: 30 year mortgage under 3%

SurfCityBill wrote: Fri Mar 06, 2020 11:48 am As of 3/6/20 PenFed CU shows 2.75% / 2.876% APR on a 30 year conventional fixed rate mortgage.
That’s with 1.25pts plus CC
by nic3456
Thu Mar 05, 2020 9:55 pm
Forum: Investing - Theory, News & General
Topic: Be fearful when others are greedy. Be greedy when others are fearful.
Replies: 129
Views: 9323

Re: Be fearful when others are greedy. Be greedy when others are fearful.

I think we are only the tip of the iceberg of panic (if it sets in at all). Even with the drops we are only back to like Oct 2019 levels (which I thought the market was already too high back then). I agree with a previous poster that this panic is nothing like 2008. Right now people just seem to be ...