Search found 121 matches

by Familyman2012
Mon Nov 02, 2020 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Question: My loan got transfer to Mr.cooper Payment is due Nov 1st. I’m still unable to even register my account. Tried calling the customer service line and can’t get a hold of anyone. Does anyone know if they will charge a late fee or do you know if Mr.cooper has a buffer zone for new loans? Than...
by Familyman2012
Mon Nov 02, 2020 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Question: My loan got transfer to Mr.cooper Payment is due Nov 1st. I’m still unable to even register my account. Tried calling the customer service line and can’t get a hold of anyone. Does anyone know if they will charge a late fee or do you know if Mr.cooper has a buffer zone for new loans? Than...
by Familyman2012
Mon Nov 02, 2020 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Question: My loan got transfer to Mr.cooper Payment is due Nov 1st. I’m still unable to even register my account. Tried calling the customer service line and can’t get a hold of anyone. Does anyone know if they will charge a late fee or do you know if Mr.cooper has a buffer zone for new loans? Thanks
by Familyman2012
Tue Oct 13, 2020 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Hey all, I'm about to close on my refi with RateRabbit.com. 2.5%, 15yr, $0 closing cost, no points, etc. $395k mortgage I just got the closing disclosure, and of course there are some up front fees. Is this expected? Loan Costs A. Origination Charges - $995 Lender Doc Prep Fee - $300 Underwriting F...
by Familyman2012
Tue Oct 13, 2020 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Have had an offer to refinance @ 2.25% 30 year. Lender credit to cover loan costs, but only $1000 credit to cover escrow. Is this a good a deal as I'm likely to get? My understanding was that escrow costs at closing are always going to change (due to timing) so I should not pay too much attention t...
by Familyman2012
Tue Oct 13, 2020 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

For people reading this thread, you aren't going to get the best rates for zero work and wanting to have zero inconvenience to yourself. If the inconvenience really is too much for you, then you will probably be stuck at 3%+ rates or hefty closing costs. To get the sub-2.75 rates with zero closing ...
by Familyman2012
Thu Oct 01, 2020 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

^ Yes, so you should be good. I think this will work out well for you! Honestly, for so many years I wanted my 4.3% to go down. I finally am able to get a 2.5% after 2 refi. It’s just unusual to refi your current rate to something higher instead of lower. But The more I think about. The more I say ...
by Familyman2012
Thu Oct 01, 2020 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Sorry if I wasn’t clear. My loan with better (2.5%) has already closed and funded on the 28th.I pocketed almost $1900. I told loan cabin to close my file because I’m going with better. But they never did. They sent it to underwriting instead. Now, after my 2nd refi completed (sept 28th) I have an o...
by Familyman2012
Thu Oct 01, 2020 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Sorry if I wasn’t clear. My loan with better (2.5%) has already closed and funded on the 28th.I pocketed almost $1900. I told loan cabin to close my file because I’m going with better. But they never did. They sent it to underwriting instead. Now, after my 2nd refi completed (sept 28th) I have an o...
by Familyman2012
Thu Oct 01, 2020 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

I’m in a situation now and wanted opinions on what to do. My loan with better is funded as of the 28th of Sept. Back story: I was going back and forth between Better and loan cabin. And Better came out with the best loan estimate of 2.5 with 4700 lender credit. I emailed that loan estimate to my LO...
by Familyman2012
Thu Oct 01, 2020 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

I’m in a situation now and wanted opinions on what to do. My loan with better is funded as of the 28th of Sept. Back story: I was going back and forth between Better and loan cabin. And Better came out with the best loan estimate of 2.5 with 4700 lender credit. I emailed that loan estimate to my LO ...
by Familyman2012
Mon Sep 28, 2020 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Tomorrow is my disbursement date for my 2nd refi. I don’t make a payment November 1st. Let say I start another refi and it suppose to close in October. Does that mean I still need to make a November payment? Or would that get pushed out till December 1st? Or should I wait till making a payment in No...
by Familyman2012
Fri Sep 25, 2020 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Tuesday should be my disbursement date for my 2nd refi with better. Ended up with a 2.5 Both of my refi have been for 20 years. I was 6 years into my mortgage when I started this refi process in May. Didn’t want to go back to 30 years after 6 years. I find it crazy that my mortgage interest is offi...
by Familyman2012
Fri Sep 25, 2020 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Tuesday should be my disbursement date for my 2nd refi with better. Ended up with a 2.5 Both of my refi have been for 20 years. I was 6 years into my mortgage when I started this refi process in May. Didn’t want to go back to 30 years after 6 years. I find it crazy that my mortgage interest is offic...
by Familyman2012
Fri Sep 25, 2020 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Hi Sunrise. I slept on this last night. $5,200 is a big swing if we go with IM. We do plan to be in this house until retirement (25 years to go) and beyond unless unforseen circumstances happen but as far as selling and moving we are done with that part of our lives. 6 years to break even isn't so ...
by Familyman2012
Wed Sep 23, 2020 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Well, I think I'm pretty much throwing in the towel with the idea of refinancing at this point. I have a similar sized loan to tommy85 here (135k vs. his 156k) and I cannot even get close to a LE with no closing costs. In fact, the very same lender mentioned here (Better) just quoted me $9900 in cl...
by Familyman2012
Tue Sep 22, 2020 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

If I'm not rolling any closing costs into the new loan, should the new loan amount be equal to payoff amount to old lender? Or at least higher then payoff amount, and then the old lender can refund me? I'm trying to make sense of a CD where loan amount is lower then payoff amount. Payoff amount inc...
by Familyman2012
Sat Sep 19, 2020 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Just did a no-cost refinance @2.75% 30-yr
Replies: 18
Views: 2596

Re: Just did a no-cost refinance @2.75% 30-yr

Like others have mention. Shop it around. I locked with 3 different lenders at one time. I even signed the initial paperwork with 2 of them. and sent over documents. Multiple credit hard pulls is only counted as 1 if you do it in a certain window time frame. I believe 14 days. But someone can clarif...
by Familyman2012
Tue Sep 15, 2020 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

This was posted the other day: But just a reminder if anyone is on the fence with Better.com. This was on the front page on the website. “As you may know, the Federal Housing Finance Agency (FHFA) is introducing a 0.5% fee on refinance loans. That means you must lock your rate with Better Mortgage b...
by Familyman2012
Tue Sep 15, 2020 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

I was thinking base on a mortgage calculator. My interest after 20 years is only $200 ish more. Monthly increase $4-5 dollars. I’m not trying to make a big deal about $600. But would still like to know what is the better way. Generally, the recommendation is not to finance closing costs. Even $200i...
by Familyman2012
Tue Sep 15, 2020 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

What would you do: Would you roll in payoff amount into new loan? Or bring cash to close? It’s about a $600 difference. I’m thinking I rather Just roll it in and keep the $600 In my pocket because $600 only raises my monthly payment by only $4-5 dollars. Am I thinking it correctly? Do you want to b...
by Familyman2012
Tue Sep 15, 2020 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

What would you do: Would you roll in payoff amount into new loan? Or bring cash to close? It’s about a $600 difference. I’m thinking I rather Just roll it in and keep the $600 In my pocket because $600 only raises my monthly payment by only $4-5 dollars. Am I thinking it correctly? Do you want to b...
by Familyman2012
Tue Sep 15, 2020 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

What would you do:

Would you roll in payoff amount into new loan? Or bring cash to close?
It’s about a $600 difference.

I’m thinking I rather Just roll it in and keep the $600 In my pocket because $600 only raises my monthly payment by only $4-5 dollars.

Am I thinking it correctly?
by Familyman2012
Fri Sep 11, 2020 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Is there a rate lock fee with LD, LF when the appraisal is waived? Just wondering how lenders would lock the rate without a blackout penalty? Sorry, I’m just starting to refinance for the first time ever. I’m not sure with LD or LF. But with better, If you qualify for the appraisal waiver. You stil...
by Familyman2012
Fri Sep 11, 2020 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Can you lock with two lenders? Is there any reason to do so, if the rates are the same and appraisal is waived in both cases? E.g. concerns over time to close? Does it matter at all if one lender is a broker (i.e. LenderFi) and another is a direct lender (e.g. Loan Depot)? Yes, you can. I was actua...
by Familyman2012
Fri Sep 11, 2020 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Can you lock with two lenders? Is there any reason to do so, if the rates are the same and appraisal is waived in both cases? E.g. concerns over time to close? Does it matter at all if one lender is a broker (i.e. LenderFi) and another is a direct lender (e.g. Loan Depot)? Yes, you can. I was actua...
by Familyman2012
Fri Sep 11, 2020 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

About to close with better with my 2nd refi. After some back and forth with LC and better. Closing at 2.5% 20 years with $4,700 lender credit. No escrow. Appraisal waiver. Enough lender credit to cover closing cost and Section F property tax since its due soon anyways. If my math is correct. I shoul...
by Familyman2012
Thu Sep 03, 2020 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

I thought I remember seeing someone say something about being able to cash out the credit on a low-balance card. Anyone know the mechanics of that? It's hidden in the Disputes section. Go to Account Services and follow the links like you were disputing a charge. One of the options is to request a c...
by Familyman2012
Thu Sep 03, 2020 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Not sure if this has occurred with anyone else, but Better had me pay the appraisal fee as a deposit at the time of rate lock even though my appraisal is likely to be waived. Is this common with Better? If I walk away am I out the appraisal fee deposit? That is normal. They will refund your $550 du...
by Familyman2012
Thu Sep 03, 2020 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Dilemma here. Originally LC gave me a quote 2.65 20 years $3900 Lender credit. Better match by $4000 Lender credit. LC came back and match today. Looking at the better estimate. If I can get the appraisal waived which better did on my 1st refi. Better LE will adjust and be better than LC by $500. W...
by Familyman2012
Wed Sep 02, 2020 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Dilemma here. Originally LC gave me a quote 2.65 20 years $3900 Lender credit. Better match by $4000 Lender credit. LC came back and match today. Looking at the better estimate. If I can get the appraisal waived which better did on my 1st refi. Better LE will adjust and be better than LC by $500. Wo...
by Familyman2012
Tue Sep 01, 2020 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Thinking about making another run at this, and could use suggestions Current quicken loan 15 year mortgage is $140k at 3.25. Home value approx $340k. In TX That is just too small a balance to make numbers work. But what about doing a cash out and going to about $250k. If I could get a 30 year at 2....
by Familyman2012
Sun Aug 30, 2020 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Plenty of fish/lenders in the sea! That is true! Since my 2.5% refinance is complete, now I will watch (for the illusive goal) for a no-cost refinance 30 year FRM at 2.31%, a rate when first month's payment divides equally between interest and principal. That will be a milestone. If that cannot be ...
by Familyman2012
Sat Aug 29, 2020 11:39 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

I called Radian about a week after I locked with Better -- should have done it earlier. Asked them to give me a quote for lender's title insurance and settlement services for refinancing with Better Mortgage with $X loan for the property located at Y. They e-mailed it to me within few hours. Can yo...
by Familyman2012
Sat Aug 29, 2020 11:15 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Dumb question- When you call Radian. What exact charges do you ask a quote for? do I just say “ can I get a quote for title insurance and settlement services?” And they would know what quote to give me? I’m going to call next week. Just not sure what to say. I called Radian about a week after I loc...
by Familyman2012
Sat Aug 29, 2020 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Dumb question- When you call Radian. What exact charges do you ask a quote for? do I just say “ can I get a quote for title insurance and settlement services?” And they would know what quote to give me? I’m going to call next week. Just not sure what to say. I called Radian about a week after I loc...
by Familyman2012
Sat Aug 29, 2020 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

My refinancing with Better for 30 year FRM at 2.5% has concluded. Sincere thanks to BrandonBogle and many other members who posted questions and shared their wisdom. July 24: Submitted application using AMEX link. August 2: Locked at 2.625% with high cost. Application moved from loan officer to loa...
by Familyman2012
Fri Aug 28, 2020 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Can you get a quote from A for 2.625% and ask B for 2.5% quote? Both of these quotes are with Better. Sorry, should’ve mentioned that. Sorry missed the "Better" part. I would go with Option B too. So people really prefer oodles of cash back with a higher rate than close to zero cost with ...
by Familyman2012
Fri Aug 28, 2020 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Okay I know what option I should go with. But wanted to clarify before I commit to lock with better again. Option A: 2.5% 20 year. 2500 lender credit. No escrow ABC= $1,164– E+F=$3,105. They’re making me pay my property tax because it’s due with 60-90 days. Which is $2,392. So technically my E+F=$7...
by Familyman2012
Fri Aug 28, 2020 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

For those of you that have refinanaced more than one in 2020: does the second refi usually require an appraisal, even if the first refi did? Can they simply refer to the one completed just a month or two ago? I closed with Better Mortgage in mid-July. I qualify for an appraisal waiver the 1st time ...
by Familyman2012
Fri Aug 28, 2020 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Okay I know what option I should go with. But wanted to clarify before I commit to lock with better again. Option A: 2.5% 20 year. 2500 lender credit. No escrow ABC= $1,164– E+F=$3,105. They’re making me pay my property tax because it’s due with 60-90 days. Which is $2,392. So technically my E+F=$71...
by Familyman2012
Thu Aug 27, 2020 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

I'm wondering how long it's taking you all to get your rate locks once you apply? I'd like to lock a new rate in about 2 weeks (I couldn't refinance for a certain period of time based on a previous refinance) and I'm wondering how far before that I should apply. Not sure the timing now, but I appli...
by Familyman2012
Wed Aug 26, 2020 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

I refinanced with Better, closed in mid-July. The $2,500 AMEX deal was used, as well, but have yet to receive it. Should I find it worthwhile to refinance AGAIN, is there anything keeping me for doing so right away? Do I have to wait so many months? Should I wait until I receive the AMEX credit? Th...
by Familyman2012
Tue Aug 18, 2020 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Closed with Better on June 22. Received $2500 AMEX credit yesterday August 18. Thanks for posting this - I closed with Better about one month after you did and ave not seen my AMEX credit. I have been assuming that the credit will go through after I make my first payment which is Sept 1 for me whic...
by Familyman2012
Tue Aug 18, 2020 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

I talked to both WM and LF yesterday. Both of them stated that the 0.5 fee is already added in the closing fees. I asked them to clarify what that exactly means. WM said that even if I locked last month. They’re 45 days out from closing. They have been calling 100s of applications that’s in process ...
by Familyman2012
Sun Aug 16, 2020 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

Still haven’t heard back from WM. Initial offer was 2.5 no cost no escrow 30 years. After the 0.5 news came out. Haven’t heard from my LO after multiple attempts. Decided to talk to owning.com The best he can do is 2.625 30years $900. No escrow. I currently am at 2.875. It’s will save me around $40/...
by Familyman2012
Sat Aug 15, 2020 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Sooner than Later: A New 0.5% Fee Going Into Effect Sep 1
Replies: 16
Views: 3150

Re: Refinance Sooner than Later: A New 0.5% Fee Going Into Effect Sep 1

Okay. So loans need to close before sept 1st? Not locked before Sept 1st?
by Familyman2012
Sat Aug 15, 2020 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Sooner than Later: A New 0.5% Fee Going Into Effect Sep 1
Replies: 16
Views: 3150

Re: Refinance Sooner than Later: A New 0.5% Fee Going Into Effect Sep 1

I’ve emailed/called a few lenders regarding the fee. Getting a few mixed answers. 1 lender stated you need to lock before sept 1st and can close after sept 1st to avoid fee. 1 lender stated you need to close before sept 1st to avoid fees. 1 lender had no clue what I was talking about. I’m just confu...
by Familyman2012
Sat Aug 08, 2020 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

My refi was completed 7/14. Waiting on my Amex. 1st payment is due Sept 1st. I’ve been reading this thread to see where rates are at. I was planning to sit on the sideline until I get my Amex credit but after reading some post, I couldn’t resist. I emailed a lender. The offer was 2.5 for either 20ye...
by Familyman2012
Mon Jul 27, 2020 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571111

Re: Refinance Mega Thread

I have received a refinance offer with $3,500 lender credit. Items A + B + C + E in LE is $2,000. Item F (prepaid interest) will be approximately $500 depending on the closing date. No escrow. This results in a total closing cost of $2,500. If I understand it correctly, lender credit cannot be used...