Refinance Mega Thread

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AerialWombat
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Re: Refinance Mega Thread

Post by AerialWombat » Sat Oct 12, 2019 10:21 pm

Cycle wrote:
Sat Oct 12, 2019 10:16 pm
AerialWombat wrote:
Sat Oct 12, 2019 12:26 am
Cycle wrote:
Sat Sep 07, 2019 9:04 pm
I'm looking to take $170k from a rental property I own outright and occupy.

This is to buy another property I plan to live in. I want the mortgage in my rental property, not my personal residence.
Investment property loan rates are usually around half a percent higher or so than owner occupant loans. You may also find yourself paying higher origination fees.
The loans quoted ended up being a full 1% higher and the closing costs were really high. I ended up just buying the condo with cash. I ended up getting a good price and the closing costs were about $1500.
Yeah, that sounds about right. I closed on my latest rental two weeks ago. 4.25%, 30 years, 20% down, $6500 in closing costs (mostly to buy down the rate). Compare that to owner occupied rates/fees, and I cry a few tears.

Nothing wrong with just using cash.
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arsenalfan
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Re: Refinance Mega Thread

Post by arsenalfan » Sun Oct 13, 2019 8:59 am

Refinancing 4 rental properties that are longterm payoff & rent.
All in 5/5 over 20 commercial loans, each worth $400k with $200-250k left on each note. At about 4.5-5% on each, and they are about to reset to mid 5%.
Refi to 3.5% 5/5 over 20 commercial note.
RoI should be about 2 years from ReFi costs.

deikel
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Re: Refinance Mega Thread

Post by deikel » Tue Oct 15, 2019 10:58 am

Bacchus01 wrote:
Fri Oct 11, 2019 7:25 pm
deikel wrote:
Thu Sep 12, 2019 11:36 am
I searched multiple online sites and the offers seemed oddly high, I talked to Ally and the rates were downright silly ( around 4%), then I went to my local CFCU and got a great offer, refinancing from a 30 yr fixed at 4% (4.2 APR) to a 15 yr fixed 2.85 % no points and closing costs of about 1700 (TBD since some of the state tax will be saved, but unknown right this second).

Very smooth sailing so far, the originator was super organized, took 30 min to check all options and another 30 to bring all my paperwork to sign the application and lock the rate.

Just throwing in a plug for local brick and mortar banks (credit unions in particular), this was the best rate I found - by far.

I’m curious, did you just look at their rates online (CFCU) or did you have to call them up? I’m watching online rates of locals and they just aren’t that great.

Granted, I have a 15 year at 3.25% already, so I’m trying to get sub 3 with no costs or better yet a cash out refinance, but still.
In my case, I walked in the door on a Friday, just generally curious about refinancing and they gave me a good rate for the day (I recall it was like 3% at the time) and I wanted to pull the trigger. They send me home with some paperwork requests and I came back the next Tuesday (Monday was a holiday) and on that single day, the rate was 2.8 - this rate was also published online and was searchable - although a bit hidden by three clicks to get there (very clunky website)

I took it and made the application with a lock in. I then monitored the published rate for the next couple of weeks and I somehow was very lucky and this rate was not reached for the following weeks (it stayed around 3-3.25)...but their rates are online and updated daily. And they are constantly better then what I saw online in the meantime.

They had options for cash outs, and options for 'no closure costs', but those did not really apply to me.

Maybe my local Credit Union is special (although I doubt it), what I am saying is that people should consider their local CU and not just check online. I also heard bad things about the closing process of the very same CU, so maybe I just got a lucky combination - but my process was fast and without problems whatsoever, the gal working with me was whip smart and explained everything very well - I am very pleased with how this worked out.

Even if rates would drop down to 2.5%, I have no more need to refinance till this debt is gone.
Everything you read in this post is my personal opinion. If you disagree with this disclaimer, please un-read the text immediately and destroy any copy or remembrance of it.

MrTom
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Re: Refinance Mega Thread

Post by MrTom » Tue Oct 15, 2019 9:06 pm

Just refinanced with Sebonic.com (cardinal financial). Closed yesterday.
Went from 4.25 down to 3.375 on a 30 year. No fees except for title, (even the appraisal was waived) and i used radiantitledirect.com to get the title fees down significantly.

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Re: Refinance Mega Thread

Post by LadyGeek » Wed Oct 16, 2019 7:31 pm

mookie had a post which was moved to a new thread. See: mortgage refinance math--locking in today
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Jags4186
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Re: Refinance Mega Thread

Post by Jags4186 » Wed Oct 16, 2019 8:31 pm

My current offer that I’m moving forward with is:

90 day rate lock
3.625% 30 yr fix conventional
$2,721 lender credits
Waived appraisal
2 months escrow requirement (some lenders want 8 months :shock: )

I will slow roll having application done to see if rates drop between now and January.

whistleblower
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Re: Refinance Mega Thread

Post by whistleblower » Thu Oct 17, 2019 12:04 pm

I'm hunting for the unicorn 2.87% 15 year that the Algorithm continues to show me in banner ads.

Any recent leads for institutions that offer this?

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AZAttorney11
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Re: Refinance Mega Thread

Post by AZAttorney11 » Fri Oct 18, 2019 7:16 pm

whistleblower wrote:
Thu Oct 17, 2019 12:04 pm
I'm hunting for the unicorn 2.87% 15 year that the Algorithm continues to show me in banner ads.

Any recent leads for institutions that offer this?
You can still find those deals, but the ones that I have seen require buying points (which might make sense depending on how long you intend to stay in the home). I don't think a 2.875% "no-cost" 15 year refi exists at the moment. If it does, someone should post a link!

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AZAttorney11
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Re: Refinance Mega Thread

Post by AZAttorney11 » Fri Oct 18, 2019 7:19 pm

MrTom wrote:
Tue Oct 15, 2019 9:06 pm
Just refinanced with Sebonic.com (cardinal financial). Closed yesterday.
Went from 4.25 down to 3.375 on a 30 year. No fees except for title, (even the appraisal was waived) and i used radiantitledirect.com to get the title fees down significantly.
I've never heard of radiantitledirect. Do you mind posting what they charged compared to what you were quoted by other title companies?

nehawk87
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Re: Refinance Mega Thread

Post by nehawk87 » Wed Oct 23, 2019 2:07 pm

I've been paying down a 30-yr 3.75% mortgage from $245K to $168K over the past 3.5 years.

I'm projecting to pay the whole thing off 6 years from now.

I am looking at refinancing into a 15-yr fixed mortgage on Aimloan. I can get into a 3.5% 15-yr fixed loan for near the same payment (within $100) I have on my 30-yr now. It'll cost me $246.18 out of pocket and save me about $1,800 over the next 6 years.

For those who have gone through a refinance before, is it worth the hassle to save $1,800? Obviously that benefit grows if I pay my mortgage down slower but I hope to pay it off in 6 years.

UnLearnYourself
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Re: Refinance Mega Thread

Post by UnLearnYourself » Wed Oct 23, 2019 2:22 pm

AZAttorney11 wrote:
Fri Oct 18, 2019 7:16 pm
whistleblower wrote:
Thu Oct 17, 2019 12:04 pm
I'm hunting for the unicorn 2.87% 15 year that the Algorithm continues to show me in banner ads.

Any recent leads for institutions that offer this?
You can still find those deals, but the ones that I have seen require buying points (which might make sense depending on how long you intend to stay in the home). I don't think a 2.875% "no-cost" 15 year refi exists at the moment. If it does, someone should post a link!
I've been in a 20yr fixed at 3.5% for almost 3 years now.

Anybody have a general rule of thumb for what type of rate decrease I would need to justify the costs of a refinance down to a 15yr fixed loan?

gr7070
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Re: Refinance Mega Thread

Post by gr7070 » Wed Oct 23, 2019 2:35 pm

nehawk87 wrote:
Wed Oct 23, 2019 2:07 pm
I've been paying down a 30-yr 3.75% mortgage from $245K to $168K over the past 3.5 years.

I'm projecting to pay the whole thing off 6 years from now.

I am looking at refinancing into a 15-yr fixed mortgage on Aimloan. I can get into a 3.5% 15-yr fixed loan for near the same payment (within $100) I have on my 30-yr now. It'll cost me $246.18 out of pocket and save me about $1,800 over the next 6 years.

For those who have gone through a refinance before, is it worth the hassle to save $1,800? Obviously that benefit grows if I pay my mortgage down slower but I hope to pay it off in 6 years.
1. Yes and no. Mostly no??? But that's also over 6 years. A refi doesn't take that much of your time. And 1800 bucks is 1800 bucks. I'm still not sure it's worth the hassle, and even then is it worth the risk that you're missing something and it might cost you a slight amount?

2. Are you even saving that? You said "It'll cost me $246.18 out of pocket". Does that mean you have something rolled in? Is that accounted for in the 1800?

kpc77
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Re: Refinance Mega Thread

Post by kpc77 » Wed Oct 23, 2019 2:42 pm

AZAttorney11 wrote:
Fri Oct 18, 2019 7:19 pm
MrTom wrote:
Tue Oct 15, 2019 9:06 pm
Just refinanced with Sebonic.com (cardinal financial). Closed yesterday.
Went from 4.25 down to 3.375 on a 30 year. No fees except for title, (even the appraisal was waived) and i used radiantitledirect.com to get the title fees down significantly.
I've never heard of radiantitledirect. Do you mind posting what they charged compared to what you were quoted by other title companies?
I also used Radiant and would highly recommend them. They saved me ~$800 compared to the lender's usual title company.

Jags4186
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Re: Refinance Mega Thread

Post by Jags4186 » Wed Oct 23, 2019 2:47 pm

nehawk87 wrote:
Wed Oct 23, 2019 2:07 pm
I've been paying down a 30-yr 3.75% mortgage from $245K to $168K over the past 3.5 years.

I'm projecting to pay the whole thing off 6 years from now.

I am looking at refinancing into a 15-yr fixed mortgage on Aimloan. I can get into a 3.5% 15-yr fixed loan for near the same payment (within $100) I have on my 30-yr now. It'll cost me $246.18 out of pocket and save me about $1,800 over the next 6 years.

For those who have gone through a refinance before, is it worth the hassle to save $1,800? Obviously that benefit grows if I pay my mortgage down slower but I hope to pay it off in 6 years.
I have refinanced twice and and in the process of doing it again now.

All times it has taken the following steps:

1) Email 2 months paystubs, copy of drivers license, most recent mortgage statement, 2 months statements of primary checking account

2) click “sign here” about 50 times on a DocuSign document.

3) have a person come to my house and actually sign everything in the DocuSign document

4) send check for new escrow account

5) get check back from old escrow account

I would do it every week if it saved me $100 let alone $1800.

mookie
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Re: Refinance Mega Thread

Post by mookie » Wed Oct 23, 2019 9:24 pm

Started shopping for a refinance last week. I contacted a number of lenders including big bank (current lender), credit unions, and online lenders. Loandepot, Amerisave, and Keystone Funding (via mtgprofessor.com) were all very close, and I'm going with Keystone Funding.
Loan amount $410K, 15 years fixed at 3%, $2700 in total closing costs, which I'm adding to my loan amount.

nehawk87
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Re: Refinance Mega Thread

Post by nehawk87 » Thu Oct 24, 2019 2:30 pm

Jags4186 wrote:
Wed Oct 23, 2019 2:47 pm
nehawk87 wrote:
Wed Oct 23, 2019 2:07 pm
I've been paying down a 30-yr 3.75% mortgage from $245K to $168K over the past 3.5 years.

I'm projecting to pay the whole thing off 6 years from now.

I am looking at refinancing into a 15-yr fixed mortgage on Aimloan. I can get into a 3.5% 15-yr fixed loan for near the same payment (within $100) I have on my 30-yr now. It'll cost me $246.18 out of pocket and save me about $1,800 over the next 6 years.

For those who have gone through a refinance before, is it worth the hassle to save $1,800? Obviously that benefit grows if I pay my mortgage down slower but I hope to pay it off in 6 years.
I have refinanced twice and and in the process of doing it again now.

All times it has taken the following steps:

1) Email 2 months paystubs, copy of drivers license, most recent mortgage statement, 2 months statements of primary checking account

2) click “sign here” about 50 times on a DocuSign document.

3) have a person come to my house and actually sign everything in the DocuSign document

4) send check for new escrow account

5) get check back from old escrow account

I would do it every week if it saved me $100 let alone $1800.
Easy enough. I just got the application done on Aimloan. Going to save a quarter point on my existing mortgage and it'll cost me $78. Going to try and work with the lender to waive the appraisal fee and see if there's any chance I can also waive the escrow. I'd rather pay taxes & insurance on my own. Thanks.

gr7070
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Re: Refinance Mega Thread

Post by gr7070 » Thu Oct 24, 2019 3:11 pm

nehawk87 wrote:
Thu Oct 24, 2019 2:30 pm
Jags4186 wrote:
Wed Oct 23, 2019 2:47 pm
nehawk87 wrote:
Wed Oct 23, 2019 2:07 pm
I've been paying down a 30-yr 3.75% mortgage from $245K to $168K over the past 3.5 years.

I'm projecting to pay the whole thing off 6 years from now.

I am looking at refinancing into a 15-yr fixed mortgage on Aimloan. I can get into a 3.5% 15-yr fixed loan for near the same payment (within $100) I have on my 30-yr now. It'll cost me $246.18 out of pocket and save me about $1,800 over the next 6 years.

For those who have gone through a refinance before, is it worth the hassle to save $1,800? Obviously that benefit grows if I pay my mortgage down slower but I hope to pay it off in 6 years.
I have refinanced twice and and in the process of doing it again now.

All times it has taken the following steps:

1) Email 2 months paystubs, copy of drivers license, most recent mortgage statement, 2 months statements of primary checking account

2) click “sign here” about 50 times on a DocuSign document.

3) have a person come to my house and actually sign everything in the DocuSign document

4) send check for new escrow account

5) get check back from old escrow account

I would do it every week if it saved me $100 let alone $1800.
Easy enough. I just got the application done on Aimloan. Going to save a quarter point on my existing mortgage and it'll cost me $78. Going to try and work with the lender to waive the appraisal fee and see if there's any chance I can also waive the escrow. I'd rather pay taxes & insurance on my own. Thanks.
Something doesn't seem right here. Cost $78 for what?

If you're paying for an appraisal, how is it only costing you $78 total, unless they're already waiving fees.

Are you only looking at costs as out of pocket? If so, you are likely ignoring rolled in costs, which are very important and very much affect the viability of a refi.

In my earlier reply I noted a risk of unknowingly incurring costs. Feels like that may be happening.

rywi
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Re: Refinance Mega Thread

Post by rywi » Thu Oct 24, 2019 5:03 pm

I just finished refinancing with Owning Corporation. Got a 2.875% fixed 15 mortgage and paid absolutely $0 closing costs, appraisal cost, etc. The only cost was $198 recording fee on the old mortgage. Had a very good and easy experience with Owning, got everything done in about 2 weeks. Their rates are 2.99% now for 15 year fixed under ~$480K.

nehawk87
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Re: Refinance Mega Thread

Post by nehawk87 » Thu Oct 24, 2019 6:30 pm

gr7070 wrote:
Thu Oct 24, 2019 3:11 pm
nehawk87 wrote:
Thu Oct 24, 2019 2:30 pm
Jags4186 wrote:
Wed Oct 23, 2019 2:47 pm
nehawk87 wrote:
Wed Oct 23, 2019 2:07 pm
I've been paying down a 30-yr 3.75% mortgage from $245K to $168K over the past 3.5 years.

I'm projecting to pay the whole thing off 6 years from now.

I am looking at refinancing into a 15-yr fixed mortgage on Aimloan. I can get into a 3.5% 15-yr fixed loan for near the same payment (within $100) I have on my 30-yr now. It'll cost me $246.18 out of pocket and save me about $1,800 over the next 6 years.

For those who have gone through a refinance before, is it worth the hassle to save $1,800? Obviously that benefit grows if I pay my mortgage down slower but I hope to pay it off in 6 years.
I have refinanced twice and and in the process of doing it again now.

All times it has taken the following steps:

1) Email 2 months paystubs, copy of drivers license, most recent mortgage statement, 2 months statements of primary checking account

2) click “sign here” about 50 times on a DocuSign document.

3) have a person come to my house and actually sign everything in the DocuSign document

4) send check for new escrow account

5) get check back from old escrow account

I would do it every week if it saved me $100 let alone $1800.
Easy enough. I just got the application done on Aimloan. Going to save a quarter point on my existing mortgage and it'll cost me $78. Going to try and work with the lender to waive the appraisal fee and see if there's any chance I can also waive the escrow. I'd rather pay taxes & insurance on my own. Thanks.
Something doesn't seem right here. Cost $78 for what?

If you're paying for an appraisal, how is it only costing you $78 total, unless they're already waiving fees.

Are you only looking at costs as out of pocket? If so, you are likely ignoring rolled in costs, which are very important and very much affect the viability of a refi.

In my earlier reply I noted a risk of unknowingly incurring costs. Feels like that may be happening.
Lender credit exceeding the cost of the appraisal. I’m taking a higher interest rate to keep my out of pocket costs on the refinance as close to zero as possible.

I am not rolling any costs into the loan.
Last edited by nehawk87 on Thu Oct 24, 2019 6:44 pm, edited 1 time in total.

9liner
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Re: Refinance Mega Thread

Post by 9liner » Thu Oct 24, 2019 6:44 pm

We recently closed on a VA Streamline ReFi with AimLoan. We went from a 30-year at 4.0% to a 30-year at 3.0% with $957.00 in lender's credits which washed out the lender's fees. Overall, I was very happy with the process.

nehawk87
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Re: Refinance Mega Thread

Post by nehawk87 » Thu Oct 24, 2019 7:00 pm

rywi wrote:
Thu Oct 24, 2019 5:03 pm
I just finished refinancing with Owning Corporation. Got a 2.875% fixed 15 mortgage and paid absolutely $0 closing costs, appraisal cost, etc. The only cost was $198 recording fee on the old mortgage. Had a very good and easy experience with Owning, got everything done in about 2 weeks. Their rates are 2.99% now for 15 year fixed under ~$480K.
Wow. Just when I thought I’d be moving forward with Aimloan. I’ll be looking into this. Great rate.

MrTom
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Re: Refinance Mega Thread

Post by MrTom » Thu Oct 24, 2019 11:01 pm

AZAttorney11 wrote:
Fri Oct 18, 2019 7:19 pm
MrTom wrote:
Tue Oct 15, 2019 9:06 pm
Just refinanced with Sebonic.com (cardinal financial). Closed yesterday.
Went from 4.25 down to 3.375 on a 30 year. No fees except for title, (even the appraisal was waived) and i used radiantitledirect.com to get the title fees down significantly.
I've never heard of radiantitledirect. Do you mind posting what they charged compared to what you were quoted by other title companies?
Sebonics preferred title company fees for the title insurance/endorsement/fees was ~$2200. Radian's was ~$1600. So roughly $600 difference.

Process was very smooth. Closed at their office and they waived an additional notary fee.

TropikThunder
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Re: Refinance Mega Thread

Post by TropikThunder » Thu Oct 24, 2019 11:28 pm

nehawk87 wrote:
Thu Oct 24, 2019 6:30 pm
I am not rolling any costs into the loan.
Well, technically that's exactly what you are doing:
nehawk87 wrote:
Thu Oct 24, 2019 6:30 pm
Lender credit exceeding the cost of the appraisal. I’m taking a higher interest rate to keep my out of pocket costs on the refinance as close to zero as possible.
You're adding the loan fees to the loan in the form of a higher interest rate. If you keep the loan longer than the break-even point, the bank wins (e.g., if the loan costs were $2,000 and the higher rate makes your P&I $25 higher, then break-even is $2,000/$25 = 80 months = 6.7 years). Nothing wrong with that if the numbers make sense, just don't fool yourself. :wink:

comehither2k18
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Re: Refinance Mega Thread

Post by comehither2k18 » Fri Oct 25, 2019 6:53 am

Any recommendations for lenders in New York? (feel free to PM me or post here if allowed)

I'm looking for $70k(plus closing costs added in) in a 15yr fixed with lowest closing costs. I currently don't have mortgage but my HELOC has a $65K balance which is what I want to refi. Also looking for extra $5k for some home improvement which again, brings that total to $70k+cc.

My heloc now is 4.64 variable which isn't bad but I would just feel way, way more comfortable in a fixed rate and it seems like a good time to save some $$ overall.

No plans on selling for next 10yrs, if ever, so no doubt we will make and pass that break even point for factoring in all closing costs into new balance.

Ficos are between 739 and 770 so I would hope to get around 3.00 for 15 fixed for what I want. Not sure if lenders have much interest in me because I'm borrowing under $100K.

Discover home loans quote came in at 5.99 15 fix no CC. That rate sucks.

The only soft quote without pull gave an "estimated on the high side" quote on closing costs was $5500-$6K which seems ridiculously high and almost not worth doing. That would get me into 3.125 15yr fixed. Decent rate, but good Lord, that puts me at $76K. No thanks.

I can't seem to find a Heloc that has both a option to convert to fixed loan immediately, and good rate.

Haven't had any pulls for this yet. I am hoping to narrow down to 3 or 4 lenders before I allow the pulls.

I did start my own thread with this info last week or so, but I figure it couldnt hurt to have more eyes seeing this and hopefully help.

nehawk87
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Re: Refinance Mega Thread

Post by nehawk87 » Fri Oct 25, 2019 8:05 am

TropikThunder wrote:
Thu Oct 24, 2019 11:28 pm
nehawk87 wrote:
Thu Oct 24, 2019 6:30 pm
I am not rolling any costs into the loan.
Well, technically that's exactly what you are doing:
nehawk87 wrote:
Thu Oct 24, 2019 6:30 pm
Lender credit exceeding the cost of the appraisal. I’m taking a higher interest rate to keep my out of pocket costs on the refinance as close to zero as possible.
You're adding the loan fees to the loan in the form of a higher interest rate. If you keep the loan longer than the break-even point, the bank wins (e.g., if the loan costs were $2,000 and the higher rate makes your P&I $25 higher, then break-even is $2,000/$25 = 80 months = 6.7 years). Nothing wrong with that if the numbers make sense, just don't fool yourself. :wink:
At the end of the day, I'm improving my interest rate position relative to my current loan with very minimal out of pocket costs. Sure, I could pay thousands of dollars and get an even lower rate but that doesn't make sense in my situation.

anhonymous
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Re: Refinance Mega Thread

Post by anhonymous » Sat Nov 02, 2019 4:27 pm

rywi wrote:
Thu Oct 24, 2019 5:03 pm
I just finished refinancing with Owning Corporation. Got a 2.875% fixed 15 mortgage and paid absolutely $0 closing costs, appraisal cost, etc. The only cost was $198 recording fee on the old mortgage. Had a very good and easy experience with Owning, got everything done in about 2 weeks. Their rates are 2.99% now for 15 year fixed under ~$480K.
I just called Owning for a refinance quote. The rate is 2.99% all in. But one thing he mentioned (but i need to verify via documentation) is that they are flexible in the tenure of the mortgage. So a 15 year mortgage can be underwritten for anywhere between 10 years and 1 month and 15 years. I thought I would share this in case someone is looking for a 10 yearish mortgage at low rates. Not sure if other lenders do the same, but this was the first time I heard this approach.
Of course we could do additional payments and get to that tenure.

doogan
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Re: Refinance Mega Thread

Post by doogan » Sun Nov 03, 2019 6:26 am

Good morning

In reference to NY refi, has anyone gone thru THE CEMA process to save on mortgage recording tax, especially via online lenders? Any experiences to share?

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F150HD
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Re: Refinance Mega Thread

Post by F150HD » Sun Nov 03, 2019 11:13 am

Have read the Fed rate cuts don't directly impact mortgage interest rates (immediately)....is there an ideal amount of time to wait after a Fed rate cut to see the cuts affects on mortgage rates? X weeks or months?

-----

Secondary comment- seems many of these refi 'sites' require one to create an account to check refi rates etc (like Rocket Mortgage does) - total hassle. Would be great if folks mentioned whether the company they used requires this (Aimloan does not for example, you can run basic #'s w/out creating an account and risking endless phone call and email solicitations)
Last edited by F150HD on Sun Nov 03, 2019 11:21 am, edited 1 time in total.

Luke P
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Re: Refinance Mega Thread

Post by Luke P » Sun Nov 03, 2019 11:19 am

Too bad Owning is California-only. That's a great rate. I'm looking around for something to replace our current 3.5%/30yr mortgage. First Tech CU offers a 3.082% APR and Pen Fed have a 3.073%. But I'd love to get below 3% without paying out of pocket.

HEDGEFUNDIE
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Re: Refinance Mega Thread

Post by HEDGEFUNDIE » Sun Nov 03, 2019 12:00 pm

Luke P wrote:
Sun Nov 03, 2019 11:19 am
Too bad Owning is California-only. That's a great rate. I'm looking around for something to replace our current 3.5%/30yr mortgage. First Tech CU offers a 3.082% APR and Pen Fed have a 3.073%. But I'd love to get below 3% without paying out of pocket.
How did you get that First Tech rate?

Online they are showing much higher

https://www.firsttechfed.com/rates/rate ... home-loans

Luke P
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Re: Refinance Mega Thread

Post by Luke P » Sun Nov 03, 2019 2:48 pm

Apologies, I was unclear – I'm intending to move from a 30 to a 15 year mortgage.

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MillennialFinance19
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Re: Refinance Mega Thread

Post by MillennialFinance19 » Sun Nov 03, 2019 3:02 pm

Might as well add my recent experience to this.

Locked a 3.0% 30-year rate with Aimloan last Friday. VA IRRRL refinance will drop me down from 3.5%. I'll have $2k in closing costs on a loan in the mid-three hundreds. Not too bad.

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AZAttorney11
Posts: 595
Joined: Wed Jan 21, 2015 12:12 pm

Re: Refinance Mega Thread

Post by AZAttorney11 » Thu Nov 07, 2019 12:56 pm

It appears the lowest refi rates of 2019 are in the rear view mirror. Refi'ing became a lot less attractive over the past few months and this move isn't going to help those seeking a lower rate.

https://www.cnbc.com/2019/11/07/us-trea ... ments.html

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