After a lot of back and forth, here is where they ended up.VTECHUMP wrote: ↑Thu Aug 20, 2020 7:42 pmE:JSDNJ wrote: ↑Thu Aug 20, 2020 7:31 pmWhy is E so high? This loan is costing you $3715 to get to 2.5%. I think you can do better.VTECHUMP wrote: ↑Thu Aug 20, 2020 7:24 pm Was just offered the following from New American Funding:
2.50% 30 year fixed, 63% LTV
A = $1,420
B = $213
C = $1,880
- a lender credit of $745
I'm currently at 3.25% 30 year fixed. Should I take the above offer?
My loan estimate also has about $4000 of the closing costs rolled into the loan. I assume it is better to pay them up front, as long as I have the cash to pay them and plan on staying at this residence for the long term?
Recording Fees and Other Taxes: $97
Transfer Taxes: $850
I was thinking the same thing about doing better, but that 2.5% fixed rate is appealing. I'll attempt some negotiating with them tomorrow.
Thanks for the feedback.
2.5%, $3200 in costs
2.625%, $2175 in costs
2.875%, $275 in costs
They wouldn't quote 2.75%. Reading through this thread it sounds like the consensus would be to take the 2.875% and refi again if rates drop?