Seeking a 30 Year Fixed Rate Mortgage

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Seeking a 30 Year Fixed Rate Mortgage

Post by MichDad » Thu Oct 24, 2019 10:01 am

I’m helping my SIL navigate the refinance of her detached single family house so she can take cash out to do a major renovation. She’s seeking a 30-year fixed rate mortgage of $450,000. This mortgage will be below 80 percent of the home’s value. She has very good credit.

As a baseline, I see that PenFed is offering an APR of 3.601% with 0.625 points (~$2,813). There would be additional closing costs on top of this.
Is anyone aware of other current offers that are better?

Thank you.


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Re: Seeking a 30 Year Fixed Rate Mortgage

Post by tenkuky » Thu Oct 24, 2019 10:11 am

Depending on location of the property, Third Federal offers good refi, shorter-term products with low closing costs.
However, not offered in all states.
Check at

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Re: Seeking a 30 Year Fixed Rate Mortgage

Post by 9liner » Thu Oct 24, 2019 11:37 am

I just refinanced a $355k loan with Aimloan after numerous recommendations from BH. I went from a 30-year at 4% to a 30-year at 3% with a $1000 lender credit. The loan was closed in about 28 days. Very smooth process.

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Re: Seeking a 30 Year Fixed Rate Mortgage

Post by Kennedy » Thu Oct 24, 2019 8:16 pm

Check Costco's affiliated lenders. If an executive member (think it's $120/year), the lender's fees are capped at $275. They always have great rates. I've used them several times. Right now, with 25% down on a home valued at $400,000, one their lenders is quoting a 3.6% 30 year loan with lender's fees at $275. No points.

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Joined: Wed Jul 29, 2015 8:17 pm

Re: Seeking a 30 Year Fixed Rate Mortgage

Post by Danielsw » Thu Oct 24, 2019 10:46 pm

Currently refinancing with Homeplus. Concerned it’s too good to be true but...

Duplex. VA.
Value: 640k
Loan: 486k
Rate: 3.00%
APR: 3.049%
No points.
$1125 credit with $13k total cash to close.

Agent gave me numbers on a 3.25% and a 3.5% as well. Former had about $6k cash to close and latter was $0 out of pocket (maybe even a small credit).

I was very skeptical but so far so good.

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