[quote=sdrealtor]After getting 3.125 in December 2013 for a no cost refi I figured it would be a cold day in hell before I refinanced again. Today I put on a down jacket in a heatwave. Locked in 2.625 on 30 year with no points and out of pocket costs around $1000. The 20 year was no lower and I didn’t think the 15 was low enough to commit to shorter amortization schedule. I’ll be making payments most months well above what my 15 year payment would’ve been but Also wanted to leave some borrowing powder dry for the ADU I hope to add. Also this is for a self employed borrower. Had I been w-2 guy I could’ve gotten a bit lower. Saving about $150/month in interest. I guess this is what they call found money[/quote]
Just signed my closing disclosures. Should be closing next week. Process was easy and they asked for surprisingly little. Last years two years tax returns, a self reported P and L this year and last two months business checking account statements was pretty much it. Appraisal was waived. I really expected them to want more documentation for this year and they got pretty much nothing. I had it all but it wouldve been a pain to provide. I guess I’ll have to chalk that up to a 30% LTV on the loan.
