Refinance Mega Thread

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keith6014
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Re: Refinance Mega Thread

Post by keith6014 »

Calirefi2020 wrote: Wed Sep 16, 2020 8:13 pm
keith6014 wrote: Wed Sep 16, 2020 8:07 pm
keith6014 wrote: Wed Sep 16, 2020 5:55 pm whats the preference between LenderFi and Loan Depot? Who closes the fastest?
anyone?
As far as I understand it’s lenderfi 30 days VS loan depot of 60+.. by the way, just FYI, I am in the middle of a mess with LD as they charged me points during loan process and removed lender credits..almost a difference of 6k$
Oh.Wow. I am dealing with LF and LD. LD has me at 2.625 for $1k. LF can't do that low. But I worry LD will screw me over (what they are doing to you)
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BrandonBogle
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Re: Refinance Mega Thread

Post by BrandonBogle »

invest4 wrote: Wed Sep 16, 2020 8:19 pm Received the following quote LenderFi.
Term: 30 year
Rate: 2.625%
No Escrow

A. $0
B. $217
C. $953
D. Total Loan Costs = $1170

E. $51
Lender Credits = -$1250

A bit unsure what can be picked at and if this appears fairly decent. I had also thought to shop it with Better as a next step. Thanks for sharing your input / feedback.
You got a great deal. If you hustle, you may be able to get 2.5%, but then you spending effort for a better deal. So if this is an area you aren’t particular fond of spending time on, you’ve got a great offer, lock, and call it a day. If instead you are the type that will be irked if you didn’t get the best deal, then keep shopping around for others to beat this offer.

P.S. since someone is sure to bring it up, had you looked two weeks ago, 2.375% might be possible. However, you are unlikely to find a company to give that rate at no-cost this close to new costs for the lender taking effect.
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BrandonBogle
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Re: Refinance Mega Thread

Post by BrandonBogle »

LandOLakes wrote: Wed Sep 16, 2020 8:22 pm
BrandonBogle wrote: Wed Sep 16, 2020 8:01 pm
LandOLakes wrote: Wed Sep 16, 2020 7:31 pm Here is what they are currently offering me for a 30-year $510K loan:

2.875% -$3,180 credits
2.75% -$189 credits
2.625% +$3,440 points
2.5% +6,303 points
So click “select” on that rate, then click on “Loan Estimate” on the left and share the amounts in Sections D, E, and J (must the lender credit parts in J).
Thanks, Brandon. I guess I wasn't understanding correctly!

So the 2.75% and 2.875% options give me:

2.75% 2.875%
A - $0 $0
B - $614 $614
C - $1,632 $1,632
D - $2,246 $2,246
E - $198 $198
F - $585 $611
G - $6,377 $6,377
H - $0 $0
I - $7,160 $7,186
J - $9,217 $6,252

I guess that means I'd be looking at more like a $9K upfront cost (plus $20K in equity) to get the $420 monthly savings I was anticipating @ 2.75%. That still seems like a good deal -- almost $5K a year in savings, which even if I assume 35% tax deduction on interest should pay off in ~3 years. But I guess not as clearly good a deal as before I thought before?
Ignore F and G as those are costs you pay even if you don’t refinance. F = interest from closing date to end of month. Well, until you close, your old loan is charging you interest too and if you don’t refi, the old loan charges interest until it’s paid off. G is third-party costs like property taxes and homeowners insurance that you will pay even if you don’t have a mortgage at all.

So 2.75 =
D @ $2,246
E @ $198
Lender credits in J @ $189

True cost = $2,255

2.875% =
D @ $2,246
E @ $198
Lender credits in J @ $3,180

True cost = -$736 (you EARN $736 to take this refi)

If you don’t want to affect your cash flow to front the F and G costs, you can have them financed so you bring nothing to closing.

Congrats, you’ve won the game.

However, you can take the 2.75% offer to other lenders and see if they will beat it. You are likely to find one that will, at least this week.
bgh11
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Re: Refinance Mega Thread

Post by bgh11 »

Calirefi2020 wrote: Wed Sep 16, 2020 8:03 pm
bgh11 wrote: Wed Sep 16, 2020 4:52 pm
Calirefi2020 wrote: Wed Sep 16, 2020 3:12 pm Just looked at new refi LE posted by my underwriter from LD..There is a big difference in numbers from the initial locked in rate LE and the new one. My lender credits of$3300 are gone under section J and on top of that I am being charged additional $1264 (0.204 points) as origination fees.. Has anyone gone through this BS experience? Is there something I can still do asking them to honor the original numbers? Thanks
Did you ask the LO to explain?
I asked my LO but he has yet to get back to me with any improvement of the credit and numbers..meanwhile, I reached out to my original LO at LF and he said he could restart loan process and give me 2.875 0 cost loan after I send an email withdrawing loan app to LD.. what would you do? By the way, looks like LF closes with in 30 ish days which still is earlier than LD’s timeline which would be 11/1 as of today
Email the processor too if your LD LO is not responsive. Sorry, i did not look at what your LD offer is, if worse than LF, ask LD to match LF if you think there is still a chance or LD is close to closing. LD took 75 days on mine, they extended my 60-day lock but it was stressful. Only reason I stayed with LD was i could not get a better offer. LF and Better are not licensed in my state.
LandOLakes
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Re: Refinance Mega Thread

Post by LandOLakes »

BrandonBogle wrote: Wed Sep 16, 2020 8:36 pm
Ignore F and G as those are costs you pay even if you don’t refinance. F = interest from closing date to end of month. Well, until you close, your old loan is charging you interest too and if you don’t refi, the old loan charges interest until it’s paid off. G is third-party costs like property taxes and homeowners insurance that you will pay even if you don’t have a mortgage at all.

So 2.75 =
D @ $2,246
E @ $198
Lender credits in J @ $189

True cost = $2,255

2.875% =
D @ $2,246
E @ $198
Lender credits in J @ $3,180

True cost = -$736 (you EARN $736 to take this refi)

If you don’t want to affect your cash flow to front the F and G costs, you can have them financed so you bring nothing to closing.

Congrats, you’ve won the game.

However, you can take the 2.75% offer to other lenders and see if they will beat it. You are likely to find one that will, at least this week.
A-ha, that is super helpful, Brandon. So I would in effect be advancing the escrow out of cash savings (plus the principal) and getting back my current escrow from the old bank when I close.

Really appreciate the help for a stranger!
traveler00
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Re: Refinance Mega Thread

Post by traveler00 »

LandOLakes wrote: Wed Sep 16, 2020 7:31 pm Would love the group's input on my situation -- I have a 30-year mortgage at 3.5% (about 27 3/4 years and $530K in principal to go). I got an offer from Better.com because all I'd heard about low rates. For the existing mortgage, they couldn't do much better than my current rate, which I didn't see much point in pursuing. However, if we put in $20K cash to get the loan balance below the conforming limit, the options seem more attractive.

Here is what they are currently offering me for a 30-year $510K loan:

2.875% -$3,180 credits
2.75% -$189 credits
2.625% +$3,440 points
2.5% +6,303 points

The 2.75% offer is intriguing. If I'm understanding it correctly, if I'm willing to put up $20K in extra home equity, I can lower my interest rate by 0.75% for free (actually, for $189 in my pocket), which would reduce my monthly payment by about $420 including the reduced principal.It would stretch the loan term out a bit and also the savings would be slightly less because of the mortgage interest deduction, but that still feels like a good return for just moving $20K on the balance sheet.

Better is giving me a bit of a hard sell to lock before Monday when the FHA fee goes into effect. However, I have some cash lying around and wouldn't need to deplete my emergency fund to do this. Also, to lock just requires a $550 deposit which is refundable if I don't go forward. So seems like it might be worth pulling the trigger just to preserve the option.

Am I missing anything? Am I being silly by not shopping around more?

Thanks in advance!
Check with Lenderfi instead. I have noticed that their rates on balances above $510k are very competitive and you probably won't need to pay down your loan. Everyone's situation is different. My friend locked in with them today ($590k loan balance) at 2.75% @ $0 cost (all fees paid via a lender credit.) I locked in with them about 2 weeks ago at 2.625% $0 cost with a similar loan balance.
Last edited by traveler00 on Wed Sep 16, 2020 9:06 pm, edited 1 time in total.
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BrandonBogle
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Re: Refinance Mega Thread

Post by BrandonBogle »

LandOLakes wrote: Wed Sep 16, 2020 8:58 pm A-ha, that is super helpful, Brandon. So I would in effect be advancing the escrow out of cash savings (plus the principal) and getting back my current escrow from the old bank when I close.

Really appreciate the help for a stranger!
traveler00 wrote: Wed Sep 16, 2020 9:01 pm Check with Lenderfi instead. I have noticed that their rates on balances above $510k are very competitive and you probably won't need to pay down your loan. Everyone's situation is different. My friend locked in with them today ($590k loan balance) at 2.75% @ $0 cost (all fees paid via a lender credit. I locked in with them about 2 weeks ago at 2.625% $0 cost with a similar loan balance.
In my overzealous trimming, I missed a point traveler noticed. Yes, you will have to front the escrow cash as you will not be able to finance the escrow cost while also staying under the conforming limit. And yeah, I would check out LenderFi and anyone else offering superconforming or jumbos to see if they will give you 2.75% at no cost or even 2.5% - 2.625% at no cost. At $510k, many will offer great lender credits and some may offer great deals at $530k too.
LandOLakes
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Re: Refinance Mega Thread

Post by LandOLakes »

BrandonBogle wrote: Wed Sep 16, 2020 9:06 pm
LandOLakes wrote: Wed Sep 16, 2020 8:58 pm A-ha, that is super helpful, Brandon. So I would in effect be advancing the escrow out of cash savings (plus the principal) and getting back my current escrow from the old bank when I close.

Really appreciate the help for a stranger!
traveler00 wrote: Wed Sep 16, 2020 9:01 pm Check with Lenderfi instead. I have noticed that their rates on balances above $510k are very competitive and you probably won't need to pay down your loan. Everyone's situation is different. My friend locked in with them today ($590k loan balance) at 2.75% @ $0 cost (all fees paid via a lender credit. I locked in with them about 2 weeks ago at 2.625% $0 cost with a similar loan balance.
In my overzealous trimming, I missed a point traveler noticed. Yes, you will have to front the escrow cash as you will not be able to finance the escrow cost while also staying under the conforming limit. And yeah, I would check out LenderFi and anyone else offering superconforming or jumbos to see if they will give you 2.75% at no cost or even 2.5% - 2.625% at no cost. At $510k, many will offer great lender credits and some may offer great deals at $530k too.
Heh -- all is forgiven! When you give free advice, it's ok to be overzealous. We have a no-penalty CD of about $30K that I could use to cover most or all of the escrow and paydown.

LenderFi doesn't seem to to service my area (Illinois) or at least it didn't offer me any options when I put in my info. I may poke around some tomorrow or Friday then. Is this upcoming FHA fee really going to impact rates on Monday? It seems to be like that should be priced in already, but maybe I'm not understanding the mechanics of the fee. I don't want to feel rushed to accept Better's offer if it's unlikely to change dramatically next week.
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BrandonBogle
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Re: Refinance Mega Thread

Post by BrandonBogle »

LandOLakes wrote: Wed Sep 16, 2020 9:45 pm Heh -- all is forgiven! When you give free advice, it's ok to be overzealous. We have a no-penalty CD of about $30K that I could use to cover most or all of the escrow and paydown.

LenderFi doesn't seem to to service my area (Illinois) or at least it didn't offer me any options when I put in my info. I may poke around some tomorrow or Friday then. Is this upcoming FHA fee really going to impact rates on Monday? It seems to be like that should be priced in already, but maybe I'm not understanding the mechanics of the fee. I don't want to feel rushed to accept Better's offer if it's unlikely to change dramatically next week.
LenderFi does 30-day rate locks (even if lately they take longer than that and extend the rate lock for you at no charge) while Better does 45-day rate locks. Meanwhile, Loan Depot, Loan Cabin, and Network Capital do 60-day locks. Since the fee goes into effect 12/1 and applies when the lender gets the loan to Fannie/Freddie (which often is at least two-three weeks after funding of the refi), 60-day lock lenders likely already price it in (though feel pressure from other lenders with shorter locks to keep prices competitive), 45-day lock lenders will likely start to price it in next week, and 30-day lock lenders will likely start to price it in early Oct.
Calirefi2020
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Re: Refinance Mega Thread

Post by Calirefi2020 »

bgh11 wrote: Wed Sep 16, 2020 8:47 pm
Calirefi2020 wrote: Wed Sep 16, 2020 8:03 pm
bgh11 wrote: Wed Sep 16, 2020 4:52 pm
Calirefi2020 wrote: Wed Sep 16, 2020 3:12 pm Just looked at new refi LE posted by my underwriter from LD..There is a big difference in numbers from the initial locked in rate LE and the new one. My lender credits of$3300 are gone under section J and on top of that I am being charged additional $1264 (0.204 points) as origination fees.. Has anyone gone through this BS experience? Is there something I can still do asking them to honor the original numbers? Thanks
Did you ask the LO to explain?
I asked my LO but he has yet to get back to me with any improvement of the credit and numbers..meanwhile, I reached out to my original LO at LF and he said he could restart loan process and give me 2.875 0 cost loan after I send an email withdrawing loan app to LD.. what would you do? By the way, looks like LF closes with in 30 ish days which still is earlier than LD’s timeline which would be 11/1 as of today
Email the processor too if your LD LO is not responsive. Sorry, i did not look at what your LD offer is, if worse than LF, ask LD to match LF if you think there is still a chance or LD is close to closing. LD took 75 days on mine, they extended my 60-day lock but it was stressful. Only reason I stayed with LD was i could not get a better offer. LF and Better are not licensed in my state.
They have not assigned one yet but I have emailed my LO's boss.. LD originally gave me 2.625% 30 year fixed with 491 credits on 9/1. today's estimate shows same rate but J at $4200 and $0 lender credit.. LF has me at 2.875% with 0 costs and credits.
prosperosdaughter
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Re: Refinance Mega Thread

Post by prosperosdaughter »

atx1202 wrote: Wed Sep 16, 2020 4:04 pm
prosperosdaughter wrote: Wed Sep 16, 2020 3:55 pm Just got a LE from LenderFi and wanted to know thoughts about the offer.

Loan amount: 248k
30 year fixed 2.625%
A+B+C+E=$1002
Lender credit $122

Any ideas? Worth it to keep shopping or should we lock tonight?
That’s a decent rate. LenderFi normally waives appraisal and if that’s the case, go ahead and lock the rate (no cost to lock) and keep shopping.

I started with LenderFi LE, pitching it with Loan depot and better to get a pretty good deal.
I ended up taking it to an independent broker this afternoon. Just locked a 30-year refi at 2.375%, total closing costs about $1800.

Anyone have any experience dealing with UWM? They're the wholesaler.
gazelle1991
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Re: Refinance Mega Thread

Post by gazelle1991 »

i am getting closing disclosure from lenderfi today. Locked with them on 9/4, now just waiting for final approval to close. I had a cash out refi in aug. Doesnt seem like they cared that it was a cashout refi less than 6 months ago.

Thinking of putting my home this month or next though so might have done all these refinances for nothing but who knows maybe the house will sit on the market for a while and i may need to wait til Spring to sell. Since this is a no cost refinance, nothing to lose. I’d better lock in the low rates.
bgh11
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Re: Refinance Mega Thread

Post by bgh11 »

Calirefi2020 wrote: Wed Sep 16, 2020 10:47 pm
bgh11 wrote: Wed Sep 16, 2020 8:47 pm
Calirefi2020 wrote: Wed Sep 16, 2020 8:03 pm
bgh11 wrote: Wed Sep 16, 2020 4:52 pm
Calirefi2020 wrote: Wed Sep 16, 2020 3:12 pm Just looked at new refi LE posted by my underwriter from LD..There is a big difference in numbers from the initial locked in rate LE and the new one. My lender credits of$3300 are gone under section J and on top of that I am being charged additional $1264 (0.204 points) as origination fees.. Has anyone gone through this BS experience? Is there something I can still do asking them to honor the original numbers? Thanks
Did you ask the LO to explain?
I asked my LO but he has yet to get back to me with any improvement of the credit and numbers..meanwhile, I reached out to my original LO at LF and he said he could restart loan process and give me 2.875 0 cost loan after I send an email withdrawing loan app to LD.. what would you do? By the way, looks like LF closes with in 30 ish days which still is earlier than LD’s timeline which would be 11/1 as of today
Email the processor too if your LD LO is not responsive. Sorry, i did not look at what your LD offer is, if worse than LF, ask LD to match LF if you think there is still a chance or LD is close to closing. LD took 75 days on mine, they extended my 60-day lock but it was stressful. Only reason I stayed with LD was i could not get a better offer. LF and Better are not licensed in my state.
They have not assigned one yet but I have emailed my LO's boss.. LD originally gave me 2.625% 30 year fixed with 491 credits on 9/1. today's estimate shows same rate but J at $4200 and $0 lender credit.. LF has me at 2.875% with 0 costs and credits.
I really don't have the same experience like the others here and I don't have any experience with LF but I feel like going to LF rather than LD. Hopefully, someone from LD will get back to you quickly and correct it back to the 9/1 offer (u locked it, right?). Once 2.625% is corrected, ask LD about 2.875%, if LD is better at 2.875% than LF, see if LF is willing to match or beat it. If so, continue on with LF. If you don't need to pay anything upfront other then LD credit report $21 fee, you could technically lock and go through underwriting at both places and see which one can close first and cancel the other one. One of them may get upset this way and may blacklist you though. Someone with more experience than me please chime in.
Calirefi2020
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Re: Refinance Mega Thread

Post by Calirefi2020 »

bgh11 wrote: Wed Sep 16, 2020 11:29 pm
Calirefi2020 wrote: Wed Sep 16, 2020 10:47 pm
bgh11 wrote: Wed Sep 16, 2020 8:47 pm
Calirefi2020 wrote: Wed Sep 16, 2020 8:03 pm
bgh11 wrote: Wed Sep 16, 2020 4:52 pm

Did you ask the LO to explain?
I asked my LO but he has yet to get back to me with any improvement of the credit and numbers..meanwhile, I reached out to my original LO at LF and he said he could restart loan process and give me 2.875 0 cost loan after I send an email withdrawing loan app to LD.. what would you do? By the way, looks like LF closes with in 30 ish days which still is earlier than LD’s timeline which would be 11/1 as of today
Email the processor too if your LD LO is not responsive. Sorry, i did not look at what your LD offer is, if worse than LF, ask LD to match LF if you think there is still a chance or LD is close to closing. LD took 75 days on mine, they extended my 60-day lock but it was stressful. Only reason I stayed with LD was i could not get a better offer. LF and Better are not licensed in my state.
They have not assigned one yet but I have emailed my LO's boss.. LD originally gave me 2.625% 30 year fixed with 491 credits on 9/1. today's estimate shows same rate but J at $4200 and $0 lender credit.. LF has me at 2.875% with 0 costs and credits.
I really don't have the same experience like the others here and I don't have any experience with LF but I feel like going to LF rather than LD. Hopefully, someone from LD will get back to you quickly and correct it back to the 9/1 offer (u locked it, right?). Once 2.625% is corrected, ask LD about 2.875%, if LD is better at 2.875% than LF, see if LF is willing to match or beat it. If so, continue on with LF. If you don't need to pay anything upfront other then LD credit report $21 fee, you could technically lock and go through underwriting at both places and see which one can close first and cancel the other one. One of them may get upset this way and may blacklist you though. Someone with more experience than me please chime in.
Yes I did lock rate ...rate is still good as of today but they added points now which I’m not happy about..let’s see if they can do anything about the credits..
traveler00
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Re: Refinance Mega Thread

Post by traveler00 »

gazelle1991 wrote: Wed Sep 16, 2020 11:20 pm i am getting closing disclosure from lenderfi today. Locked with them on 9/4, now just waiting for final approval to close. I had a cash out refi in aug. Doesnt seem like they cared that it was a cashout refi less than 6 months ago.

Thinking of putting my home this month or next though so might have done all these refinances for nothing but who knows maybe the house will sit on the market for a while and i may need to wait til Spring to sell. Since this is a no cost refinance, nothing to lose. I’d better lock in the low rates.
Let us know if your loan goes thru even though it was a cash out less than 6 months.
bgh11
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Re: Refinance Mega Thread

Post by bgh11 »

Calirefi2020 wrote: Wed Sep 16, 2020 11:47 pm
bgh11 wrote: Wed Sep 16, 2020 11:29 pm
Calirefi2020 wrote: Wed Sep 16, 2020 10:47 pm
bgh11 wrote: Wed Sep 16, 2020 8:47 pm
Calirefi2020 wrote: Wed Sep 16, 2020 8:03 pm

I asked my LO but he has yet to get back to me with any improvement of the credit and numbers..meanwhile, I reached out to my original LO at LF and he said he could restart loan process and give me 2.875 0 cost loan after I send an email withdrawing loan app to LD.. what would you do? By the way, looks like LF closes with in 30 ish days which still is earlier than LD’s timeline which would be 11/1 as of today
Email the processor too if your LD LO is not responsive. Sorry, i did not look at what your LD offer is, if worse than LF, ask LD to match LF if you think there is still a chance or LD is close to closing. LD took 75 days on mine, they extended my 60-day lock but it was stressful. Only reason I stayed with LD was i could not get a better offer. LF and Better are not licensed in my state.
They have not assigned one yet but I have emailed my LO's boss.. LD originally gave me 2.625% 30 year fixed with 491 credits on 9/1. today's estimate shows same rate but J at $4200 and $0 lender credit.. LF has me at 2.875% with 0 costs and credits.
I really don't have the same experience like the others here and I don't have any experience with LF but I feel like going to LF rather than LD. Hopefully, someone from LD will get back to you quickly and correct it back to the 9/1 offer (u locked it, right?). Once 2.625% is corrected, ask LD about 2.875%, if LD is better at 2.875% than LF, see if LF is willing to match or beat it. If so, continue on with LF. If you don't need to pay anything upfront other then LD credit report $21 fee, you could technically lock and go through underwriting at both places and see which one can close first and cancel the other one. One of them may get upset this way and may blacklist you though. Someone with more experience than me please chime in.
Yes I did lock rate ...rate is still good as of today but they added points now which I’m not happy about..let’s see if they can do anything about the credits..
I don’t know if lender is allowed to change lender point/credit once locked. What’s the sense of locking if lender can change that.
bgh11
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Re: Refinance Mega Thread

Post by bgh11 »

.....
Last edited by bgh11 on Thu Sep 17, 2020 3:29 am, edited 1 time in total.
coconutpolito
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Re: Refinance Mega Thread

Post by coconutpolito »

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 :)
bgh11
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Re: Refinance Mega Thread

Post by bgh11 »

coconutpolito wrote: Thu Sep 17, 2020 2:02 am 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 :)
Same for both 25 and 30? If so, I’m taking 30. I can make payment like a 25 if I want to.
coconutpolito
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Re: Refinance Mega Thread

Post by coconutpolito »

bgh11 wrote: Thu Sep 17, 2020 2:15 am
coconutpolito wrote: Thu Sep 17, 2020 2:02 am 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 :)
Same for both 25 and 30? If so, I’m taking 30. I can make payment like a 25 if I want to.
That's what I'm leaning towards, I've only been in my home 2 years so the extra 2 years of payment (assuming I don't make extra payments which is doubtful) doesn't really bother me.
zwink
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Re: Refinance Mega Thread

Post by zwink »

I am refinancing and now have 2 comparable LE from Lenderfi and Loan Depot.
Home value $480,000
Mortgage remaining ~$375,000

Lenderfi 2.625% 30 year loan, waiving appraisal (I think), D+E + Lender Credit = 0
Loan Depot 2.625% 30 year loan, waiving appraisal, D+E + Lender Credit = -206

Loan Depot loan officer says he can go lower if I have a lower estimate, but I'm not sure it will get any lower? LD has a big loan origination fee but then a very large lender fee that cancels it out. I used Better on the original mortgage a year ago, so will take this to them, but them just beating it by $200 isn't all that helpful.

I did also submit an application with LC a week ago, so maybe keep waiting? Should I continue to try to get LD and LF to go lower?
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sunny_socal
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Re: Refinance Mega Thread

Post by sunny_socal »

coconutpolito wrote: Thu Sep 17, 2020 2:02 am 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 :)
What steps did you take before they got back to you? I filled out the application already but didn't submit any docs.

I haven't had a single serious response from any of the lenders I've contacted. Better is the only one and their "quote" is the same one I initially picked from their splash screen and they're not moving. Probably six applications, no lock yet. (I think by living in state of Texas I'm automatically a second-tier customer, this is supported by others posting poor results as well.) On paper my profile should look great. :|
coconutpolito
Posts: 23
Joined: Wed Aug 05, 2020 2:44 am

Re: Refinance Mega Thread

Post by coconutpolito »

sunny_socal wrote: Thu Sep 17, 2020 8:12 am
coconutpolito wrote: Thu Sep 17, 2020 2:02 am 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 :)
What steps did you take before they got back to you? I filled out the application already but didn't submit any docs.

I haven't had a single serious response from any of the lenders I've contacted. Better is the only one and their "quote" is the same one I initially picked from their splash screen and they're not moving. Probably six applications, no lock yet. (I think by living in state of Texas I'm automatically a second-tier customer, this is supported by others posting poor results as well.) On paper my profile should look great. :|
What I think actually worked was that I sent an email to their complaint department. I was still polite and I informed them that I filled out an application x weeks ago and wanted to know if my app was somehow lost and I would still like to get a quote from them. Someone got back to me the next day. Best of luck. Oh and my rate isn’t 2.5%, it’s 2.49% 🥳.
2quiker
Posts: 45
Joined: Sun May 10, 2020 12:39 pm

Re: Refinance Mega Thread

Post by 2quiker »

I asked Watermark to match or beat Better's (Better offered to beat Watermarks offer by $100)and the loan person told me that $100 is not worth their time and went on about I pay more out of pocket with Better, which is true but I pay more in sections A-E with watermark. I don't mind paying prepaids since they have to be paid anyways. Waiting to hear back from lenderfi.

Tony
invest4
Posts: 221
Joined: Wed Apr 24, 2019 2:19 am

Re: Refinance Mega Thread

Post by invest4 »

BrandonBogle wrote: Wed Sep 16, 2020 8:28 pm
invest4 wrote: Wed Sep 16, 2020 8:19 pm Received the following quote LenderFi.
Term: 30 year
Rate: 2.625%
No Escrow

A. $0
B. $217
C. $953
D. Total Loan Costs = $1170

E. $51
Lender Credits = -$1250

A bit unsure what can be picked at and if this appears fairly decent. I had also thought to shop it with Better as a next step. Thanks for sharing your input / feedback.
You got a great deal. If you hustle, you may be able to get 2.5%, but then you spending effort for a better deal. So if this is an area you aren’t particular fond of spending time on, you’ve got a great offer, lock, and call it a day. If instead you are the type that will be irked if you didn’t get the best deal, then keep shopping around for others to beat this offer.

P.S. since someone is sure to bring it up, had you looked two weeks ago, 2.375% might be possible. However, you are unlikely to find a company to give that rate at no-cost this close to new costs for the lender taking effect.
Thanks a lot for the guidance. I don't mind a little hustle. Submitted with Better as well and let's see.
newbie20
Posts: 10
Joined: Sat Aug 15, 2020 10:24 am

Re: Refinance Mega Thread

Post by newbie20 »

I am scheduled for my closing tomorrow, but I only received "Preliminary Closing Disclosure" today, and that, too, after some follow ups. There are no surprises in there and nothing has changed, even the payoff has remained the same (as it was 6 weeks ago)!

I have two questions.

1. Is it really ok to not have final closing disclosure documents provided with about 24 hrs to go for closing? I understand everyone is busy, but isn't there a regulatory requirement to have this document provided to borrower at least 3 business days prior to closing? I don't want to spoil my relationship with the lender, but is it worth a raising stink, may be with CFPB or other state agency now or after the closing?

2. The closing date is tomorrow (9/18) but loan will only be funded/payoff disbursed on 9/23. The new lender is charging me prepaid interest from 9/18 till 9/30. I told them that I could understand there being a day of overlap/double interest from existing lender and new lender, but I shouldn't have to pay 4 extra days of interest (9/18 to 9/22) to them when they haven't actually lent me the money. They said it was their policy and I could take it up with the "Governor" if I had any concerns. It is not a huge amount (less than $100 in extra interest) but is this something we just have to accept as a cost of doing business?

Thanks for your inputs/advice!
User avatar
BrandonBogle
Posts: 3294
Joined: Mon Jan 28, 2013 11:19 pm

Re: Refinance Mega Thread

Post by BrandonBogle »

newbie20 wrote: Thu Sep 17, 2020 11:32 am 2. The closing date is tomorrow (9/18) but loan will only be funded/payoff disbursed on 9/23. The new lender is charging me prepaid interest from 9/18 till 9/30. I told them that I could understand there being a day of overlap/double interest from existing lender and new lender, but I shouldn't have to pay 4 extra days of interest (9/18 to 9/22) to them when they haven't actually lent me the money. They said it was their policy and I could take it up with the "Governor" if I had any concerns. It is not a huge amount (less than $100 in extra interest) but is this something we just have to accept as a cost of doing business?
It’s highly unusual for a lender to charge interest prior to the disbursement date. As you say, they haven’t legally given you funds until that disbursement day (and even that can be delayed). I hate to say it, but if you want to pursue this, the CFPB would likely be the first place to reach out to about this.
MrJedi
Posts: 343
Joined: Wed May 06, 2020 11:42 am

Re: Refinance Mega Thread

Post by MrJedi »

It doesn't sound right that your prepaid interest starts on closing day rather than disbursement date.
mega317
Posts: 4582
Joined: Tue Apr 19, 2016 10:55 am

Re: Refinance Mega Thread

Post by mega317 »

MrJedi wrote: Thu Sep 17, 2020 11:40 am It doesn't sound right that your prepaid interest starts on closing day rather than disbursement date.
I have this situation as well. I don’t even have a final funding date. I figured this was the best offer I had by far, even if they screw me on the interest it’s still a better offer and extends the break even from 0 to a month or less. Plus lots of people in this thread have done the same and were made whole after a little effort.
https://www.bogleheads.org/forum/viewtopic.php?t=6212
callouscrab
Posts: 1
Joined: Thu Sep 17, 2020 12:03 pm

Re: Refinance Mega Thread

Post by callouscrab »

Thanks for this "mega" thread, it inspired me to start my own refinance process. Here's what I am working with right now - need advice on whether it makes sense to lock and follow through.

Loan type: 30 year (jumbo)
Loan Amount: 910K
Rate: 2.75%
Points: $11k
Other expenses: $3k

I am currently on a 3.625 % 7/1 and this will give me a rate decrease of 0.875%.

I plan to stay in this house for at least the next 5 years (kids in school). The break-even period is around 3 years with the decrease in monthly payment (to pay off the points).
JBTX
Posts: 6983
Joined: Wed Jul 26, 2017 12:46 pm

Re: Refinance Mega Thread

Post by JBTX »

Locked and proceeding on two proposals

Provident funding. $140k straight refi. 2.375% 15 year $3000 total fees- no points
Loan Depot - $230k cash out refi. 2.25% 15 year $5500 fees.

Provident so far has been pretty easy. Everything email or online. They review process is a bit ridiculous. They asked for documentation of a $50 employee reimbursement to company on a pay stub, and W2s for gambling income.

Loan Depot dealing more with person, and his boss. I had backed out when they proposed $8000 in fees. Boss came back and said he could do $5000, but everything he said and showed was $5500, the the loan agent said it was $5500 Finally I just gave up and accepted the $5500. Bizarre back and forth on that issue. Everything else is straightforward so far.
dks05c
Posts: 21
Joined: Sun Jun 16, 2019 3:08 pm

Re: Refinance Mega Thread

Post by dks05c »

Pretty frustrated with Better.com. I was, and am still, a little frustrated that they are requiring an appraisal, when I didn't need to on my Feb 2020 refi, and lenderfi waived. Still, the deal is better then LenderFi by almost 1K so it is what it is.

Now, they are requiring me to prepay my entire FL property tax bill at closing, even through it isn't officially due until April 15th (the earlier you pay the better discount you get in Florida, up to 4% discount if paid by 11/30)?

They also want me to prepay a full year of home insurance, even though I currently pay it quarterly?

Is this normal?
elwood_
Posts: 1
Joined: Thu Sep 17, 2020 12:41 pm

Re: Refinance Mega Thread

Post by elwood_ »

Is this about the best I can get for my situation?

Primary residence.
795+ Credit Score
$115k Appraisal
$85k owed

  • $92k Cash-out refi, 80% LTV
    15-yrs
    2.375%
    $2600 closing costs
  • $85k straight refi
    15-yrs
    2.125%
    $2600 closing costs
I have around 4-5 LE's at the moment. This was the lowest by far, both from Advancial Mortgage. I was hoping to get somewhat lower closing costs but maybe i'm expecting too much since my loan is not in high demand as the higher ($300-500k) ones.
no_username
Posts: 7
Joined: Fri Aug 21, 2020 9:16 pm

Re: Refinance Mega Thread

Post by no_username »

I got the closing disclosure .
A+B+C=$2541.50
E=$395
Lender Credits -$2945.28

The APR in loan calculation in page5 is not equal to interest rate in page1 even though this loan is no cost(A+B+C+E-Creidts=-$8.78).
But This APR in page5 is just calculated without credit and I should not worried about this, correct?
Goal33
Posts: 1471
Joined: Sun Apr 12, 2015 12:30 pm

Re: Refinance Mega Thread

Post by Goal33 »

callouscrab wrote: Thu Sep 17, 2020 12:12 pm Thanks for this "mega" thread, it inspired me to start my own refinance process. Here's what I am working with right now - need advice on whether it makes sense to lock and follow through.

Loan type: 30 year (jumbo)
Loan Amount: 910K
Rate: 2.75%
Points: $11k
Other expenses: $3k

I am currently on a 3.625 % 7/1 and this will give me a rate decrease of 0.875%.

I plan to stay in this house for at least the next 5 years (kids in school). The break-even period is around 3 years with the decrease in monthly payment (to pay off the points).
Does not make sense to me. That’s a lot in points. Find a rate without points is my advice. I’d rather have 3.125 for free (if possible)
jfmiii
Posts: 73
Joined: Fri Apr 25, 2014 1:36 pm

Re: Refinance Mega Thread

Post by jfmiii »

Goal33 wrote: Thu Sep 17, 2020 12:58 pm
callouscrab wrote: Thu Sep 17, 2020 12:12 pm Thanks for this "mega" thread, it inspired me to start my own refinance process. Here's what I am working with right now - need advice on whether it makes sense to lock and follow through.

Loan type: 30 year (jumbo)
Loan Amount: 910K
Rate: 2.75%
Points: $11k
Other expenses: $3k

I am currently on a 3.625 % 7/1 and this will give me a rate decrease of 0.875%.

I plan to stay in this house for at least the next 5 years (kids in school). The break-even period is around 3 years with the decrease in monthly payment (to pay off the points).
Does not make sense to me. That’s a lot in points. Find a rate without points is my advice. I’d rather have 3.125 for free (if possible)
2.75% for ~1.2pts on a 30yr jumbo refi seems like a GREAT deal to me. Ive been looking and havent been able to get anything close to that.
ZMonet
Posts: 74
Joined: Sun Dec 15, 2019 2:43 pm

Re: Refinance Mega Thread

Post by ZMonet »

My experience with WaterMark was that we got out of the gate fast on a 10 year 2.25% refi on ~$230k with no cost and no appraisal, but my loan has been stuck in "conditional approval" for about 4 weeks. I have gotten them all the documentation they requested within hours of the request, so I'm not the holdup. I reached out to my LO last week and he said that we were fine, but we're now a day away from the rate lock expiration and I don't have an updated closing disclosure statement. I tried reaching out again to my LO today but haven't been able to get in touch with him. Anyone have any experience with WM extending the rate lock period? Since I'm not the holdup is an extension a given?

Update: LO called me back and all is good. He said they are a little backed up and WM will extend rate lock at their cost.
Last edited by ZMonet on Thu Sep 17, 2020 1:55 pm, edited 1 time in total.
Fatusr
Posts: 13
Joined: Tue May 19, 2020 10:44 am

Re: Refinance Mega Thread

Post by Fatusr »

FYI - better told me that appraisal done with them is valid for 120 days. In case you need an appraisal for your 2nd refi.
2quiker
Posts: 45
Joined: Sun May 10, 2020 12:39 pm

Re: Refinance Mega Thread

Post by 2quiker »

ZMonet wrote: Thu Sep 17, 2020 1:44 pm My experience with WaterMark was that we got out of the gate fast on a 10 year 2.25% refi on ~$230k with no cost and no appraisal, but my loan has been stuck in "conditional approval" for about 4 weeks. I have gotten them all the documentation they requested within hours of the request, so I'm not the holdup. I reached out to my LO last week and he said that we were fine, but we're now a day away from the rate lock expiration and I don't have an updated closing disclosure statement. I tried reaching out again to my LO today but haven't been able to get in touch with him. Anyone have any experience with WM extending the rate lock period? Since I'm not the holdup is an extension a given? Is there any recourse if they just let the rate lock period lapse? Thanks!
I was in contact with Watermark but they ended contact and closed my refi because I was asked for two LE's. I guess they don't like to give out LE because you will go to another lender and ask the other lender to beat it. The person pretty much told me they wouldn't give another LE because I would go to another lender and ask them to beat it, well duh I was trying to get the best rate and credits. Anyways I wouldn't bank on Watermark provided many LE's. I have also had issues with Better not wanting to give out LE's. Honestly I would probably try to go with another lender. I wouldn't recommend them at all the loan person was kind of sketchy with me, avoid them.
Goal33
Posts: 1471
Joined: Sun Apr 12, 2015 12:30 pm

Re: Refinance Mega Thread

Post by Goal33 »

jfmiii wrote: Thu Sep 17, 2020 1:16 pm
Goal33 wrote: Thu Sep 17, 2020 12:58 pm
callouscrab wrote: Thu Sep 17, 2020 12:12 pm Thanks for this "mega" thread, it inspired me to start my own refinance process. Here's what I am working with right now - need advice on whether it makes sense to lock and follow through.

Loan type: 30 year (jumbo)
Loan Amount: 910K
Rate: 2.75%
Points: $11k
Other expenses: $3k

I am currently on a 3.625 % 7/1 and this will give me a rate decrease of 0.875%.

I plan to stay in this house for at least the next 5 years (kids in school). The break-even period is around 3 years with the decrease in monthly payment (to pay off the points).
Does not make sense to me. That’s a lot in points. Find a rate without points is my advice. I’d rather have 3.125 for free (if possible)
2.75% for ~1.2pts on a 30yr jumbo refi seems like a GREAT deal to me. Ive been looking and havent been able to get anything close to that.
If affordable, I'd rather pay down to 765.6k super conforming and get the same rate at no cost. That's what I am doing though I owed 820k, not 910k. (2.5% no cost in my case)
User avatar
sunny_socal
Posts: 2288
Joined: Tue Mar 24, 2015 4:22 pm

Re: Refinance Mega Thread

Post by sunny_socal »

Finally got an application to be accepted!

Amerisave:
- 2.75%
- 460k loan
- 625k home value
- No Points
- No Escrow

A+B+C=$5100
Lender Credits = $1750
Out of pocket = $3350

Since appraisal & inspection were waived, that drops by $500 to a total of $2850 cash-to-close. I had to pay $500 for an application fee but that is applied toward the closing costs as long as I stick with Amerisave. They estimated 30-40 days to close. The rate is actually 'floating' right now, and I could potentially either get a better rate or more lender credits, but at least I won't need to pay more than their initial quote. The estimate shows $1k "cash back" to me, hopefully we can just apply that to the closing costs to make it $1850 out of pocket.

I'm fairly happy. Due to my recent home sale & various loan payoffs my credit report looks pretty messy although my credit score is decent, 760+
Last edited by sunny_socal on Thu Sep 17, 2020 6:29 pm, edited 3 times in total.
invest4
Posts: 221
Joined: Wed Apr 24, 2019 2:19 am

Re: Refinance Mega Thread

Post by invest4 »

invest4 wrote: Thu Sep 17, 2020 9:58 am
BrandonBogle wrote: Wed Sep 16, 2020 8:28 pm
invest4 wrote: Wed Sep 16, 2020 8:19 pm Received the following quote LenderFi.
Term: 30 year
Rate: 2.625%
No Escrow

A. $0
B. $217
C. $953
D. Total Loan Costs = $1170

E. $51
Lender Credits = -$1250

A bit unsure what can be picked at and if this appears fairly decent. I had also thought to shop it with Better as a next step. Thanks for sharing your input / feedback.
You got a great deal. If you hustle, you may be able to get 2.5%, but then you spending effort for a better deal. So if this is an area you aren’t particular fond of spending time on, you’ve got a great offer, lock, and call it a day. If instead you are the type that will be irked if you didn’t get the best deal, then keep shopping around for others to beat this offer.

P.S. since someone is sure to bring it up, had you looked two weeks ago, 2.375% might be possible. However, you are unlikely to find a company to give that rate at no-cost this close to new costs for the lender taking effect.
Thanks a lot for the guidance. I don't mind a little hustle. Submitted with Better as well and let's see.
Better matched / beat by $100 (somewhat expected). If no real appreciable difference, is there a general consensus on a preference between the two?
presto987
Posts: 136
Joined: Sun Aug 30, 2020 10:58 pm

Re: Refinance Mega Thread

Post by presto987 »

invest4 wrote: Thu Sep 17, 2020 2:16 pm
invest4 wrote: Thu Sep 17, 2020 9:58 am
BrandonBogle wrote: Wed Sep 16, 2020 8:28 pm
invest4 wrote: Wed Sep 16, 2020 8:19 pm Received the following quote LenderFi.
Term: 30 year
Rate: 2.625%
No Escrow

A. $0
B. $217
C. $953
D. Total Loan Costs = $1170

E. $51
Lender Credits = -$1250

A bit unsure what can be picked at and if this appears fairly decent. I had also thought to shop it with Better as a next step. Thanks for sharing your input / feedback.
You got a great deal. If you hustle, you may be able to get 2.5%, but then you spending effort for a better deal. So if this is an area you aren’t particular fond of spending time on, you’ve got a great offer, lock, and call it a day. If instead you are the type that will be irked if you didn’t get the best deal, then keep shopping around for others to beat this offer.

P.S. since someone is sure to bring it up, had you looked two weeks ago, 2.375% might be possible. However, you are unlikely to find a company to give that rate at no-cost this close to new costs for the lender taking effect.
Thanks a lot for the guidance. I don't mind a little hustle. Submitted with Better as well and let's see.
Better matched / beat by $100 (somewhat expected). If no real appreciable difference, is there a general consensus on a preference between the two?
I would go with Better. Seems like most people are having a smooth experience with them, whereas LenderFi seems to be struggling with the volume of loans they are trying to close (see the other thread in this forum regarding LenderFi). Also, if LenderFi waived your appraisal on the LE and Better did not, and if you do get an appraisal waiver with Better, then you will make an extra $550 on the deal. Finally, if Radian offers cheaper title services than Better's company, you might be able to knock another couple hundred dollars off your Better title costs by having them price match Radian.
nic3456
Posts: 60
Joined: Fri Dec 19, 2008 10:42 am

Re: Refinance Mega Thread

Post by nic3456 »

coconutpolito wrote: Thu Sep 17, 2020 2:02 am 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 :)
Nice - my quote for a Cashout Refi with LC took a month and wasn't that great - I currently have one locked with another lender of 2.625% + $1K credit

3% with $1500 credit
2.87% no credit
2.75% $1,000 in Disc points

Plus typical closing costs
User avatar
BrandonBogle
Posts: 3294
Joined: Mon Jan 28, 2013 11:19 pm

Re: Refinance Mega Thread

Post by BrandonBogle »

2quiker wrote: Thu Sep 17, 2020 1:51 pm I have also had issues with Better not wanting to give out LE's. Honestly I would probably try to go with another lender. I wouldn't recommend them at all the loan person was kind of sketchy with me, avoid them.
I’m confused by this statement. Better’s system is automated. You don’t need to request an LE from them, you just click the link and download it right off your portal.
bgh11
Posts: 89
Joined: Wed Aug 05, 2020 4:58 am

Re: Refinance Mega Thread

Post by bgh11 »

For Amerisave $500 application fee, do they really return the $500 back to you at closing to offset closing costs? Is this in writing somewhere?
Does the $500 application fee show in Section A of the initial LE? and then removed when the loan closes?
Thank you.
triglav1
Posts: 24
Joined: Mon Apr 01, 2013 1:48 pm

Re: Refinance Mega Thread

Post by triglav1 »

presto987 wrote: Thu Sep 17, 2020 2:38 pm
invest4 wrote: Thu Sep 17, 2020 2:16 pm
invest4 wrote: Thu Sep 17, 2020 9:58 am
BrandonBogle wrote: Wed Sep 16, 2020 8:28 pm
invest4 wrote: Wed Sep 16, 2020 8:19 pm Received the following quote LenderFi.
Term: 30 year
Rate: 2.625%
No Escrow

A. $0
B. $217
C. $953
D. Total Loan Costs = $1170

E. $51
Lender Credits = -$1250

A bit unsure what can be picked at and if this appears fairly decent. I had also thought to shop it with Better as a next step. Thanks for sharing your input / feedback.
You got a great deal. If you hustle, you may be able to get 2.5%, but then you spending effort for a better deal. So if this is an area you aren’t particular fond of spending time on, you’ve got a great offer, lock, and call it a day. If instead you are the type that will be irked if you didn’t get the best deal, then keep shopping around for others to beat this offer.

P.S. since someone is sure to bring it up, had you looked two weeks ago, 2.375% might be possible. However, you are unlikely to find a company to give that rate at no-cost this close to new costs for the lender taking effect.
Thanks a lot for the guidance. I don't mind a little hustle. Submitted with Better as well and let's see.
Better matched / beat by $100 (somewhat expected). If no real appreciable difference, is there a general consensus on a preference between the two?
I would go with Better. Seems like most people are having a smooth experience with them, whereas LenderFi seems to be struggling with the volume of loans they are trying to close (see the other thread in this forum regarding LenderFi). Also, if LenderFi waived your appraisal on the LE and Better did not, and if you do get an appraisal waiver with Better, then you will make an extra $550 on the deal. Finally, if Radian offers cheaper title services than Better's company, you might be able to knock another couple hundred dollars off your Better title costs by having them price match Radian.
This matches what I just did - Better matched my LenderFi LE by $100, with an appraisal still being included. The appraisal was waived ($550) and using Better's title services. I am using Radian instead for about $300 cheaper, so it ended up being an ~$1k difference from LenderFi.
2quiker
Posts: 45
Joined: Sun May 10, 2020 12:39 pm

Re: Refinance Mega Thread

Post by 2quiker »

BrandonBogle wrote: Thu Sep 17, 2020 3:03 pm
2quiker wrote: Thu Sep 17, 2020 1:51 pm I have also had issues with Better not wanting to give out LE's. Honestly I would probably try to go with another lender. I wouldn't recommend them at all the loan person was kind of sketchy with me, avoid them.
I’m confused by this statement. Better’s system is automated. You don’t need to request an LE from them, you just click the link and download it right off your portal.
After receiving a count offer from Watermark I emailed Better the Watermarks LE. When I first sent Better Watermarks LE they just responded by email that they would be it by $100 I then asked for an LE showing that counter offer showing the $100. They didn't provide an LE instead emailed me a screen shot of the LE they also responded by saying that one
'This would be the final offer'. Watermark was the lender who closed my app when I requested a new LE because I was going to us it to send to Better.
keith6014
Posts: 367
Joined: Thu Jan 02, 2014 11:58 pm

Re: Refinance Mega Thread

Post by keith6014 »

What would you do?
LD: 2.625% $1000 out of pocket ,60 days approx to close
LF: 2.75% zero out of pocketc, 30-35 days approx to close
Both 30 year. Appraisal waived.
Last edited by keith6014 on Thu Sep 17, 2020 4:24 pm, edited 2 times in total.
bgh11
Posts: 89
Joined: Wed Aug 05, 2020 4:58 am

Re: Refinance Mega Thread

Post by bgh11 »

keith6014 wrote: Thu Sep 17, 2020 4:10 pm What would you do?
LD: 2.625% $1000 out of pocket
LF: 2.75% zero out of pocket
Both 30 year. Appraisal waived.
ask LD if any lender credit for 2.75%
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