2.5% 0-point 30-year is here!

[gzz]

Online quote from loancabin.com:

480k no-cash-out 30 year refi 1.1m home value: 2.500%/2.504%

They also have a 15 at 2.375, but why bother!

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Investment condo rate with LTV<50% is 3.0%.

When I do my rental condo revenue less taxes/ins/hoa at a 3% cap rate, I get that it is worth about 30% more than its zestimate.

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Other sites with very low rates now: lenderfi, better.com, owning.com.

There is a Better.com $2500 offer from Amex, and Better.com also does rate matches. If you are willing to jump through additional hoops, that could be the best deal. I did not see that offer when I logged into my CC and browsed through them, but it seems like most people do.

[OC transplant]

Geez! That’s amazing, thanks for sharing. I just started refi process with another shop at 2.875% zero cost but may have to jump over to them or see if my lender will match.

[sdrealtor]

Thank you and that is incredible.. Will see what happens as I just sent in app to refi to 20 years at 2.5%. If this works out there will be a very nice bottle of wine coming your way

[EVSDCA]

Thank you. I just finished my refi to 20 years at 3.0% with a $2,300 cost. I may need to take another close look at what is offering now.

[gzz]

OC, I saw 2.75 zero cost/negative points on a few sites.

Rates for 20 and 25 seemed to be exactly the same as 30, and 15 barely any savings.

I’ve been looking on and off for a couple years, and I can’t think of ever seeing a savings for a 20 or a large savings for a 15.

[scaredyclassic]

i just paid down my mortgage, a lot, but im a little tempted to start over and cashout refi at 2.5 %.

I was quoted 1.5 points on that.

im too scared to act at 2.5% i think but at some point,not sure where; 2% ? 1.8%? id feel like a dope for not taking the money and trying to beat it investing.

if oil can go negative, maybe the 15 y. could head down to close to zero? crazy.

[Coronita]

I need to buy another house so I can take out a mortgage.

Wait, usually isn’t it I need to get a mortgage so I can buy a house?

Lol

[sdrealtor]

[quote=gzz]OC, I saw 2.75 zero cost/negative points on a few sites.

Rates for 20 and 25 seemed to be exactly the same as 30, and 15 barely any savings.

I’ve been looking on and off for a couple years, and I can’t think of ever seeing a savings for a 20 or a large savings for a 15.[/quote]

Rates are so low that usually same on 20 vs 25 or 30 lately. Difference is more in the costs.

[sdrealtor]

dupe

[gzz]

SDR: I didn’t see even a cost difference for going 20 instead of 30.

Scaredy: avoid the big interest rate penalty for cash-out by doing a normal no cash-out refi, and then getting a HELOC if you actually need money.

[scaredyclassic]

[quote=gzz]SDR: I didn’t see even a cost difference for going 20 instead of 30.

Scaredy: avoid the big interest rate penalty for cash-out by doing a normal no cash-out refi, and then getting a HELOC if you actually need money.[/quote]

Problem is i owe only 175k and its not enough for the lowest rate

[Coronita]

[quote=scaredyclassic][quote=gzz]SDR: I didn’t see even a cost difference for going 20 instead of 30.

Scaredy: avoid the big interest rate penalty for cash-out by doing a normal no cash-out refi, and then getting a HELOC if you actually need money.[/quote]

Problem is i owe only 175k and its not enough for the lowest rate[/quote]

Well, like I said, normally one would need get a mortgage to pay for a new house.

But lately I’m thinking ….

I need to find a new house so I can get a brand new mortgage.

Lol, yeah I know that’s backwards…But interesting times we live in.

[scaredyclassic]

[quote=Coronita][quote=scaredyclassic][quote=gzz]SDR: I didn’t see even a cost difference for going 20 instead of 30.

Scaredy: avoid the big interest rate penalty for cash-out by doing a normal no cash-out refi, and then getting a HELOC if you actually need money.[/quote]

Problem is i owe only 175k and its not enough for the lowest rate[/quote]

Well, like I said, normally one would need get a mortgage to pay for a new house.

But lately I’m thinking ….

I need to find a new house so I can get a brand new mortgage.

Lol, yeah I know that’s backwards…But interesting times we live in.[/quote]

I really dont want any extra money. Its too painful to spend. But i want a 2.5 perc. Mortgage!

300k min to refi.

Money is annoying to ha e, not have, desire, avoid, slave for …its just a cruel mistress.

[Coronita]

I got it scardey. Do a $300k cash out refinance. And then make a $125k principle payment right after your loan is funded….. j/k

[scaredyclassic]

Would it be crazy to just do the max cashout refi for 15 yeats and try to arbitrage a profit with a diversified portfolio. Hell make it 30. Thatll take me to almost 90.

Might be a little nervewracking but seems like a decent bet at 2 to 2.5 perc. 15 y mortgage.

Really weird—

5 y. arm rate HIGHER than 15 y fixed.

Does that mean the market think rates are headed down? You actually pay more for the chance to pay less, with a 10 year shorter term? Seems very very strange

[Author]

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