Search found 33 matches

by WhyRWeHere
Mon Aug 31, 2020 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Does LoanCabin usually quote insanely high title fees? Currently, I have following locked with LenderFi fro 30yr 250k 63LTV 2.625% loan.. A+B+C+E =$1261 (no points, appraisal waived) estimated escrow fees are $1270 (for reference below) LoanCabin finally came back today with following... A+B+C+E=$3...
by WhyRWeHere
Tue Aug 25, 2020 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

The Fannie Mae and Freddie Mac fee has been delayed until Dec 1, 2020. https://www.fhfa.gov/Media/PublicAffairs/Pages/Adverse-Market-Refinance-Fee-Implementation-Now-December-1.aspx So how does this affect the people that locked last week that included (I'm assuming) this fee? My relative locked la...
by WhyRWeHere
Tue Aug 25, 2020 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

The Fannie Mae and Freddie Mac fee has been delayed until Dec 1, 2020. https://www.fhfa.gov/Media/PublicAffairs/Pages/Adverse-Market-Refinance-Fee-Implementation-Now-December-1.aspx So how does this affect the people that locked last week that included (I'm assuming) this fee? My relative locked la...
by WhyRWeHere
Tue Aug 25, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

The Fannie Mae and Freddie Mac fee has been delayed until Dec 1, 2020. https://www.fhfa.gov/Media/PublicAffairs/Pages/Adverse-Market-Refinance-Fee-Implementation-Now-December-1.aspx So how does this affect the people that locked last week that included (I'm assuming) this fee? My relative locked la...
by WhyRWeHere
Mon Aug 03, 2020 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Lenderfi just got back to me for my second refi with them this year. With loan of $196k and 58% LTV, he says the best he can do is 3% no cost. He claims the lower rates are for >$400k balances. Is this true across other lenders? I can’t get Loan Cabin or Watermark to respond. It still makes sense t...
by WhyRWeHere
Wed Jul 29, 2020 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Been super helpful to follow along on this thread. Just curious if anyone has been able to do a cash out refi and then turn around and refi again right after that. Curious of the rates you have been able to get and if you ran into any speed bumps in trying to do that. Thanks. I will be closing on a...
by WhyRWeHere
Mon Jul 27, 2020 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

I can pay $200 extra principal each month and it takes my near 30 year to a 19-20 year and I dont need to refinance to do it. Of course you can add to principal each month to get your loan paid off faster. But, you can refi to anther 30 year at a lower rate than your present one, still pay extra pr...
by WhyRWeHere
Fri Jul 24, 2020 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Been super helpful to follow along on this thread. Just curious if anyone has been able to do a cash out refi and then turn around and refi again right after that. Curious of the rates you have been able to get and if you ran into any speed bumps in trying to do that. Thanks. I will be closing on a...
by WhyRWeHere
Thu Jul 09, 2020 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Good to know, thanks. I'll look into that. Although, I wouldn't mind waiting 6 months before jumping back in again. Dealing with numerous lenders/rates/costs can put you in a mind spin! I'm going to be forced into that myself. I want to get solar put on the house and don't want to start to then imm...
by WhyRWeHere
Thu Jul 09, 2020 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

I'm also doing a cash out. I did not make that clear. Then what's more amazing is your rate! That is VERY impressive! Great job Thanks. And waived escrow too! But I'm looking forward to refinancing again and, hopefully, get an even lower rate like others with straight refis are getting now. Great j...
by WhyRWeHere
Thu Jul 09, 2020 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

I'm also doing a cash out. I did not make that clear. Then what's more amazing is your rate! That is VERY impressive! Great job Thanks. And waived escrow too! But I'm looking forward to refinancing again and, hopefully, get an even lower rate like others with straight refis are getting now.
by WhyRWeHere
Thu Jul 09, 2020 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

My current rate is 2.75% 15 year. I had a couple of 30-year offers from aimloan: 3.125% with 1850 closing cost on a 200K loan or a 3.625% on a 300K loan (100K cash out) for 1K closing cost. I decided to go with the cash-out option. Hoping rate will continue to stay low so I can do another no cost r...
by WhyRWeHere
Thu Jul 09, 2020 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

My current rate is 2.75% 15 year. I had a couple of 30-year offers from aimloan: 3.125% with 1850 closing cost on a 200K loan or a 3.625% on a 300K loan (100K cash out) for 1K closing cost. I decided to go with the cash-out option. Hoping rate will continue to stay low so I can do another no cost r...
by WhyRWeHere
Wed Jul 08, 2020 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Does anyone know if LenderFi does cash out refinance? I tried their instant quote for a 100k cash out on a 400k house and 200k mortgage balance and it’s giving me error. I am in the process of doing a cash out refinance with aimloan but the non cash out option from LenderFi looks better than the no...
by WhyRWeHere
Tue Jul 07, 2020 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Correct, it's below conforming limit of 726K (my loan is 660K). And yes, you're right closing cost comes to be approx 2k for me. I'm not really clear what you mean by I can have them pay me. Can you please elaborate so I can negotiate better? The closing costs seem high for that rate, compared to w...
by WhyRWeHere
Mon Jul 06, 2020 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Just a general note (regardless of lender) that I personally feel that the inputted value for estimated home value likely plays a major role in determining eligibility for an appraisal waiver. It is my theory that if the inputted estimate value is higher (or within a certain $ or %) of what the aut...
by WhyRWeHere
Mon Jul 06, 2020 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

The appraisal process with Better.com was a disaster, and it was even more frustrating considering that the other lenders were waiving the appraisal completely, and taking my valuation which put us at 20% equity. Better.com used a company called Mueller Reports, who did a bifurcated appraisal, mean...
by WhyRWeHere
Wed Jun 24, 2020 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Just locked with LenderFi I am moving from a 3.875% 30 year (24 years left) to a 2.875% 20 year. Total cost $500 after all fees and credits. If I read the numbers correct, this is just the interest cost to bridge the loan over to the new loan. Escrow waived, FICO 800+ Entire process is very smooth ...
by WhyRWeHere
Mon Jun 22, 2020 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

I don't know. I had my owner's policy so I didn't need to look into it any further. As for the number of years back you can go, each state is different. All I know is that NJ is 10 years. Ask the new title company if you can get the reissue rate in your state, and if you can get it, ask what you ne...
by WhyRWeHere
Mon Jun 22, 2020 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

I don't know. I had my owner's policy so I didn't need to look into it any further. As for the number of years back you can go, each state is different. All I know is that NJ is 10 years. Ask the new title company if you can get the reissue rate in your state, and if you can get it, ask what you ne...
by WhyRWeHere
Mon Jun 22, 2020 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

You wouldn't have it because this is in reference to the lender's title insurance so the prior lender has it, not you. Some states don't have reissue rate. Not true. You just need to send over your owner's policy to request a reissue rate. I guess they just need to know that title insurance exists ...
by WhyRWeHere
Fri Jun 19, 2020 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Lender is saying Fannie Mae is requiring full appraisal. Is there something I can point to that states Fannie Mae is temporarily waiving full appraisal requirements for COVID and exterior appraisal is allowed? If it's a refinance, you still need a full appraisal under Fannie Mae. Here is the guidan...
by WhyRWeHere
Fri Jun 19, 2020 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Lender is saying Fannie Mae is requiring full appraisal. Is there something I can point to that states Fannie Mae is temporarily waiving full appraisal requirements for COVID and exterior appraisal is allowed? If it's a refinance, you still need a full appraisal under Fannie Mae. Here is the guidan...
by WhyRWeHere
Fri Jun 19, 2020 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Yup. I was within a few days of closing on a 30 year 3.125% no fee loan. I decided to try better and they brought me down to a 30 year 3% no fee plus the $2500 from AMEX which I locked. I went back to my original lender and said "I see stories of rates dropping, etc. can you do better." R...
by WhyRWeHere
Fri Jun 19, 2020 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

You wouldn't have it because this is in reference to the lender's title insurance so the prior lender has it, not you. Some states don't have reissue rate. Not true. You just need to send over your owner's policy to request a reissue rate. I guess they just need to know that title insurance exists ...
by WhyRWeHere
Fri Jun 19, 2020 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

For my prior closing it was sent to me as a PDF and I just emailed that file over. I got the title commitment/binder prior to closing. It wasn't part of all of the closing documents. I have (from the same house) all the papers signed from when we first bought the house, and the last refinance we di...
by WhyRWeHere
Fri Jun 19, 2020 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

For my prior closing it was sent to me as a PDF and I just emailed that file over. I got the title commitment/binder prior to closing. It wasn't part of all of the closing documents. I have (from the same house) all the papers signed from when we first bought the house, and the last refinance we di...
by WhyRWeHere
Fri Jun 19, 2020 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

I was planning on using my own title company with Better, because I thought I needed to do that to get a reissue rate. For those that don't know, if you have your present title insurance policy, you can ask for the reissue rate. I did this with Better and they changed my premium to the lower reissu...
by WhyRWeHere
Thu Jun 18, 2020 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

After 4 weeks, I am finally closing with Better on Friday. I was not happy with the title company they used (Title365) as there were numerous delays during the process. I had initially wanted to use my own title company but Better convinced me not to because they said it would delay the process. We...
by WhyRWeHere
Thu Jun 18, 2020 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

After 4 weeks, I am finally closing with Better on Friday. I was not happy with the title company they used (Title365) as there were numerous delays during the process. I had initially wanted to use my own title company but Better convinced me not to because they said it would delay the process. We...
by WhyRWeHere
Thu Jun 18, 2020 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

After 4 weeks, I am finally closing with Better on Friday. I was not happy with the title company they used (Title365) as there were numerous delays during the process. I had initially wanted to use my own title company but Better convinced me not to because they said it would delay the process. We...
by WhyRWeHere
Sat Jun 13, 2020 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

How long do you have to wait to refi? I just finished refinanced with Better( won't be using them again, horrible experience)I don't see anything in my paper work stating that I have to wait unless I am missing something...? My first refi was through One True Loan, that was a great experience. I di...
by WhyRWeHere
Sat Jun 13, 2020 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7991
Views: 557303

Re: Refinance Mega Thread

Those of you who are ref-ing with Chase, how do you manage to get in touch with anyone there? We submitted an online application 3 weeks ago and have received zero response. A person is assigned to our refi but their mailbox is full and not accepting messages. Called the main number, were transferr...