I need to refi rates look amazing

[treehugger]

I was too conservative for an ARM…..hindsight’s 20/20, coulda, woulda, shoulda…..still too conservative (read chicken).

But hey I just spent the day bombing down the MTB park at Whistler, so not all chicken!

[moneymaker]

Just got a mass mailer for 2.875%/2.899%APR* from Interactive Mortgage, anyone heard of them? So many mortgage/brokers out there, must be a bubble thing.

[moneymaker]

Here’s 2 questions for HLS or others in the industry here, should I approach my current mortgage servicer for refi or go somewhere else first? Can I shop them without giving out too much personal/financial info? Ok 1 more question, how long should a refi take? Seems like it was quick last time I did it, but am reading others are saying 3-4 weeks.

[moneymaker]

[quote=FlyerInHi]8 years since the financial crisis. Still no dollar debasement or hyperinflation.

I still have an adjustable rate mortgage.[/quote]

You might want to lock it in now.
Greenspan said inflation is coming he just doesn’t know when, I tend to agree with him. Since he is 90 years old now he may not see it, but I’m pretty sure we will.

[poorgradstudent]

Okay, apparently my lender got nervous we’d go refi somewhere else and approached us with a rate that somehow is cutting 0.675% off what we refinanced at in January?

This is crazy. It’s also likely to drive up SD home prices even more if money continues to be so cheap.

[moneymaker]

Looks like I’m going to get .875% savings with a refi, hopefully it won’t be too painful.

[Coronita]

So I have a dumb question. I have about $65k left on a rental, and the last time I tried to refinance, I couldn’t because the loan amount was too small and or I could ha e to pay an extra .25% with additional cost.

Since property value has increased significantly…What if I were to cash out refinance $150k, at a rate .875% lower and then immediately pay off $85k. I am wondering if my remaining loan balance would end up being lower, since essentially for the extra $85k I borrowed I would pay only about one month worth of interest

[moneymaker]

ETF- early termination fee?

[Coronita]

[quote=moneymaker]ETF- early termination fee?[/quote]

I wouldn’t he terminating the loan just paying it down a lot faster.. need to see what the payment difference would be

[carlsbadworker]

flu, I believe in this case, your interests would be similar to borrowing $65 only, but your monthly payment (calculated based on $150K) will be x2.3 higher than if you only borrow $65k. So you will pay off much faster than whatever the loan term.

[carlsbadworker]

[quote=moneymaker]Looks like I’m going to get .875% savings with a refi, hopefully it won’t be too painful.[/quote]

How can you guys all save that much, the rate hasn’t dropped that much yet.

http://www.bankrate.com/funnel/graph/

What’s the big Brexit rate drop that that I do not yet see?

[an]

[quote=carlsbadworker][quote=moneymaker]Looks like I’m going to get .875% savings with a refi, hopefully it won’t be too painful.[/quote]

How can you guys all save that much, the rate hasn’t dropped that much yet.

http://www.bankrate.com/funnel/graph/

What’s the big Brexit rate drop that that I do not yet see?[/quote]
I think it depends on when you got your financed last time. I was only able to save 1/8%.

[treehugger]

I just initiated my refi with sebonic, going from 3.5% to 3.25% no fees, so far am being led to believe only out of pocket cost not covered by credit is $475 for appraisal. Appraisal is stupid, neighborhood comps are more than double my current mortgage.

How does that compare to what everyone else is doing?

My last refi was with quicken loans, so I called them to see if they wanted to play, offered me 3.25 with a $7,000 fee, but “rolled into my loan” so nothing “out of pocket” I was a shocked and when I shared the offer from Sebonic to prove I was not making it up they became RUDE and told me that it was a lie and the loan would never close…..

I read reviews for Sebonic they have good reviews overall.

Figure it is worth a shot!

[Coronita]

[quote=AN][quote=carlsbadworker][quote=moneymaker]Looks like I’m going to get .875% savings with a refi, hopefully it won’t be too painful.[/quote]

How can you guys all save that much, the rate hasn’t dropped that much yet.

http://www.bankrate.com/funnel/graph/

What’s the big Brexit rate drop that that I do not yet see?[/quote]
I think it depends on when you got your financed last time. I was only able to save 1/8%.[/quote]

The best rate I could get was 4.25% passing I can get 3.375%, my monthly might be the same if I cash out 140k I need to figure things out.

[an]

I’m in the process of refinancing again. This time with Sebonic. I was offered 3.25% with $0 fee ( but I have to pay for 3rd party fees and appraisal) or 3.375% with $3400 in credit, which covers all 3rd party fees, appraisal, and leave me with about $1k to put into my compound account. I picked 3.375%. I just refied to 3.5% two months ago and got ~$2500 put into my impound.

[Author]

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