5-07 MAJOR NEWS! Conforming Jumbo Rates Slashed

[(former)FormerSanDiegan]

NicMM – I did not mean to discourage you from posting. I was just poking a little fun. Glad to see that you take it in stride. Your main points come across clear. The language that is most important here is math. Running the numbers is far more important than verb conjugation. It appears that you have run the numbers and balanced the ARM versus 30-year fixed and made the right choice.

It’s also obvious that you have your eyes open through the process to make sure you don’t get screwed at the end. If they try to pull a fast one on you, simply don’t sign the loan docs. You have a couple contacts here on this board who can help.
Keep us updated on what your final rate and costs end up being when you close.

[NicMM]

Piggs,

I finally finished my refinancing and thought I could make an update here. The bank is Citi Mortgage. The rate is 5.875%.
It should be 0 cost. But I still end up to pay some locking fee about $2800 because the lender required us to have 6 months payment history. When I got the rate we had only made 5 mortgage payments. Comparing with today’s rate (about 6.35%), we feel it still makes sense to pay the fee to lock the rate.
Finally it is done. It took a bit long.

-NicMM

[NicMM]

Piggs,

I finally finished my refinancing and thought I could make an update here. The bank is Citi Mortgage. The rate is 5.875%.
It should be 0 cost. But I still end up to pay some locking fee about $2800 because the lender required us to have 6 months payment history. When I got the rate we had only made 5 mortgage payments. Comparing with today’s rate (about 6.35%), we feel it still makes sense to pay the fee to lock the rate.
Finally it is done. It took a bit long.

-NicMM

[NicMM]

Piggs,

I finally finished my refinancing and thought I could make an update here. The bank is Citi Mortgage. The rate is 5.875%.
It should be 0 cost. But I still end up to pay some locking fee about $2800 because the lender required us to have 6 months payment history. When I got the rate we had only made 5 mortgage payments. Comparing with today’s rate (about 6.35%), we feel it still makes sense to pay the fee to lock the rate.
Finally it is done. It took a bit long.

-NicMM

[NicMM]

Piggs,

I finally finished my refinancing and thought I could make an update here. The bank is Citi Mortgage. The rate is 5.875%.
It should be 0 cost. But I still end up to pay some locking fee about $2800 because the lender required us to have 6 months payment history. When I got the rate we had only made 5 mortgage payments. Comparing with today’s rate (about 6.35%), we feel it still makes sense to pay the fee to lock the rate.
Finally it is done. It took a bit long.

-NicMM

[NicMM]

Piggs,

I finally finished my refinancing and thought I could make an update here. The bank is Citi Mortgage. The rate is 5.875%.
It should be 0 cost. But I still end up to pay some locking fee about $2800 because the lender required us to have 6 months payment history. When I got the rate we had only made 5 mortgage payments. Comparing with today’s rate (about 6.35%), we feel it still makes sense to pay the fee to lock the rate.
Finally it is done. It took a bit long.

-NicMM

[Author]

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