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  • March 20, 2009 at 3:51 PM #371236
    davelj
    Participant

    [quote=equalizer][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

    Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

    Did you lock today, or have you already closed?

    I got ripped off at 4.7% APR refi few months ago. Should have waited for 4%. Now I have no choice but to walk away or ask for a bailout.

    [/quote]

    I locked yesterday. If rates go to 4%, so be it. Again, I’m not trying to bottom-tick anything. Anyone lending anyone else money for 4.6% fixed for 30 years is making a bad trade, although the degree to which the trade is bad for the lender may not be known for a few years.

    If you feel ripped off because you didn’t bottom-tick your re-fi, would you turn around and pay a higher rate if fixed rates went to 6.5% in the future? Or does the “rip-off” only work in one direction? Just curious.

    March 20, 2009 at 3:55 PM #370638
    davelj
    Participant

    [quote=pri_dk][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.[/quote]

    What are you including in the closing costs? $1200
    sounds like quite a bargain!
    [/quote]

    Combination of Application Fee + Lender Closing Fee + Tax Report Fee + Title Search + Notary Fee + Recording Deed Fee is about $1200.

    I’m NOT including tax reserve and prepaid interest, as these are costs you’re paying no matter what – that’s part of an existing loan, in effect.

    They’re probably low because I already had my original loan through BofA.

    March 20, 2009 at 3:55 PM #370922
    davelj
    Participant

    [quote=pri_dk][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.[/quote]

    What are you including in the closing costs? $1200
    sounds like quite a bargain!
    [/quote]

    Combination of Application Fee + Lender Closing Fee + Tax Report Fee + Title Search + Notary Fee + Recording Deed Fee is about $1200.

    I’m NOT including tax reserve and prepaid interest, as these are costs you’re paying no matter what – that’s part of an existing loan, in effect.

    They’re probably low because I already had my original loan through BofA.

    March 20, 2009 at 3:55 PM #371090
    davelj
    Participant

    [quote=pri_dk][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.[/quote]

    What are you including in the closing costs? $1200
    sounds like quite a bargain!
    [/quote]

    Combination of Application Fee + Lender Closing Fee + Tax Report Fee + Title Search + Notary Fee + Recording Deed Fee is about $1200.

    I’m NOT including tax reserve and prepaid interest, as these are costs you’re paying no matter what – that’s part of an existing loan, in effect.

    They’re probably low because I already had my original loan through BofA.

    March 20, 2009 at 3:55 PM #371134
    davelj
    Participant

    [quote=pri_dk][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.[/quote]

    What are you including in the closing costs? $1200
    sounds like quite a bargain!
    [/quote]

    Combination of Application Fee + Lender Closing Fee + Tax Report Fee + Title Search + Notary Fee + Recording Deed Fee is about $1200.

    I’m NOT including tax reserve and prepaid interest, as these are costs you’re paying no matter what – that’s part of an existing loan, in effect.

    They’re probably low because I already had my original loan through BofA.

    March 20, 2009 at 3:55 PM #371246
    davelj
    Participant

    [quote=pri_dk][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.[/quote]

    What are you including in the closing costs? $1200
    sounds like quite a bargain!
    [/quote]

    Combination of Application Fee + Lender Closing Fee + Tax Report Fee + Title Search + Notary Fee + Recording Deed Fee is about $1200.

    I’m NOT including tax reserve and prepaid interest, as these are costs you’re paying no matter what – that’s part of an existing loan, in effect.

    They’re probably low because I already had my original loan through BofA.

    March 20, 2009 at 3:56 PM #370643
    davelj
    Participant

    [quote=donaldduckmoore][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

    Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

    Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is [email protected].[/quote]

    No broker. Straight through BofA over the phone. Although I already had my original loan through BofA which influenced the closing costs.

    March 20, 2009 at 3:56 PM #370926
    davelj
    Participant

    [quote=donaldduckmoore][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

    Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

    Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is [email protected].[/quote]

    No broker. Straight through BofA over the phone. Although I already had my original loan through BofA which influenced the closing costs.

    March 20, 2009 at 3:56 PM #371095
    davelj
    Participant

    [quote=donaldduckmoore][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

    Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

    Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is [email protected].[/quote]

    No broker. Straight through BofA over the phone. Although I already had my original loan through BofA which influenced the closing costs.

    March 20, 2009 at 3:56 PM #371139
    davelj
    Participant

    [quote=donaldduckmoore][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

    Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

    Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is [email protected].[/quote]

    No broker. Straight through BofA over the phone. Although I already had my original loan through BofA which influenced the closing costs.

    March 20, 2009 at 3:56 PM #371251
    davelj
    Participant

    [quote=donaldduckmoore][quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

    Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

    Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is [email protected].[/quote]

    No broker. Straight through BofA over the phone. Although I already had my original loan through BofA which influenced the closing costs.

    March 20, 2009 at 4:17 PM #370652
    Anonymous
    Guest

    [quote=davelj]Combination of Application Fee + Lender Closing Fee + Tax Report Fee + Title Search + Notary Fee + Recording Deed Fee is about $1200.
    [/quote]
    Interesting. I guess there is technically no escrow required. Also, no need for another title insurance policy?

    March 20, 2009 at 4:17 PM #370937
    Anonymous
    Guest

    [quote=davelj]Combination of Application Fee + Lender Closing Fee + Tax Report Fee + Title Search + Notary Fee + Recording Deed Fee is about $1200.
    [/quote]
    Interesting. I guess there is technically no escrow required. Also, no need for another title insurance policy?

    March 20, 2009 at 4:17 PM #371105
    Anonymous
    Guest

    [quote=davelj]Combination of Application Fee + Lender Closing Fee + Tax Report Fee + Title Search + Notary Fee + Recording Deed Fee is about $1200.
    [/quote]
    Interesting. I guess there is technically no escrow required. Also, no need for another title insurance policy?

    March 20, 2009 at 4:17 PM #371149
    Anonymous
    Guest

    [quote=davelj]Combination of Application Fee + Lender Closing Fee + Tax Report Fee + Title Search + Notary Fee + Recording Deed Fee is about $1200.
    [/quote]
    Interesting. I guess there is technically no escrow required. Also, no need for another title insurance policy?

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