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  • May 31, 2020 at 10:46 AM #22903
    simombart
    Participant

    Greetings Piggington’s,

    Any recommendations on a mortgage broker who can do a re-fi with zero points and only require W2 and pay stubbs for income verification?

    I have excellent credit and approx. 65% existing equity on primary residence.

    Thanks in advance.

    May 31, 2020 at 12:37 PM #817683
    HLS
    Participant

    I’m a mortgage broker with plenty of Piggington’s references.

    Guidelines are guidelines. I’m not sure what you are trying to avoid
    providing, but for salaried employees 2 recent pay stubs and W2 is all that is generally required for income.
    Bank statements can often be avoided and no appraisal is needed in many cases.
    Covid has caused a bit of disruption to underwriting but rates are the lowest they’ve ever been. 15yr-20yr-30yr

    Having an 800 credit score and 80% equity doesn’t make it any easier to qualify for a loan. Some guidelines are just dumb. There are people who have $1 million or more in the bank with millions in assets who don’t qualify for a loan.

    No cost/no point loans are usually available.
    30 year rates are around 3.00% today, but may come with a small cost, well worth it for most people if they are at 3.25% or higher now.
    There is no one rate that fits everyone and not everyone can qualify but I’ll be happy to see if I can help you if you wish to contact me.
    Sheldon

    PS: It’s very possible to close clean loans in 2-3 weeks.
    some banks are taking 2-3 months and their rates are terrible

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