Search found 9 matches

by mrmicro
Wed Sep 30, 2020 11:28 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571124

Re: Refinance Mega Thread

^ To save almost $1000 in the first year, I think it’s worth it. Shouldn’t take too much effort on your part either, since you already have your documents and are familiar with the refi process. Plus I think Interactive Mortgage is pretty efficient and streamlined generally. If you refi immediately...
by mrmicro
Wed Sep 30, 2020 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571124

Re: Refinance Mega Thread

Just closed my refi with Better today Locked: 9/1 Loan funded: 9/28 Better Credits: No cost + ~3K credits Rate: 2.5% 30 yr fixed in CA Does anyone know what would be the wait period to refi again? Interactive Mortgage is offering 2.375. Is there a 6 month wait period with Better or do they take bac...
by mrmicro
Mon Sep 28, 2020 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571124

Re: Refinance Mega Thread

Just closed my refi with Better today Locked: 9/1 Loan funded: 9/28 Better Credits: No cost + ~3K credits Rate: 2.5% 30 yr fixed in CA Does anyone know what would be the wait period to refi again? Interactive Mortgage is offering 2.375. Is there a 6 month wait period with Better or do they take back...
by mrmicro
Thu Sep 10, 2020 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571124

Re: Refinance Mega Thread

I understand this is a very subjective question, but what would you guys choose between 1. 2.5% (30 year) with enough lender credits to cover costs + some extra 2. 2.375 (30 year) with some cost The break-even point for me based on the interest is around 40 months. This is a long enough time frame t...
by mrmicro
Wed Sep 02, 2020 12:57 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571124

Re: Refinance Mega Thread

All things being equal, which of the two would you guys choose - Better or LoanDepot. I have exactly matching terms and LE's from both. Is one better than the other in terms of closing times, keeping surprises to a minimum, overall risk etc. Any feedback is welcome. Thanks!! IMO, all things being e...
by mrmicro
Tue Sep 01, 2020 11:55 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571124

Re: Refinance Mega Thread

All things being equal, which of the two would you guys choose - Better or LoanDepot. I have exactly matching terms and LE's from both. Is one better than the other in terms of closing times, keeping surprises to a minimum, overall risk etc. Any feedback is welcome. Thanks!!
by mrmicro
Tue Sep 01, 2020 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571124

Re: Refinance Mega Thread

Thanks to this thread, I have been able to negotiate some good rates. I am confused about APR though. From my understanding, we have a No cost loan if Interest rate == APR. In the Loan Estimate, I am seeing a negative closing cost (J=-852) but my APR is still showing as higher than my interest rate...
by mrmicro
Tue Sep 01, 2020 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571124

Re: Refinance Mega Thread

Thanks to this thread, I have been able to negotiate some good rates. I am confused about APR though. From my understanding, we have a No cost loan if Interest rate == APR. In the Loan Estimate, I am seeing a negative closing cost (J=-852) but my APR is still showing as higher than my interest rate....
by mrmicro
Sat Aug 29, 2020 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8177
Views: 571124

Re: Refinance Mega Thread

Generally speaking, yes. The settlement agent is supposed to get a tax certification. Typically, if that is due within 60 days, the settlement agent will have that collected and it will be added to your closing disclosures if it is not already in your loan estimate. Having or not having an escrow d...