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Posted on 3/9/20 at 10:26 am to burgeman
quote:
Should I try for a refinance with a 30 yr at 3.625%. I refinanced in 2015 at 167k, paid down to 154k now. I am paying PMI currently.
Unless your credit score is pretty jacked, you should be able to find a sub-3%. We locked a 30 yr @ 2.85 but have a little different set of circumstances than most folks.
This post was edited on 3/9/20 at 10:41 am
Posted on 3/9/20 at 10:28 am to Coon
Where are y’all getting these good rates I’m only finding 3.5%.
We have over 700 credit score
We have over 700 credit score
This post was edited on 3/9/20 at 10:29 am
Posted on 3/9/20 at 10:30 am to Drunken Crawfish
@Drunken Crawfish
Who did you use? I put in 3 apps over the weekend. I’m in a 30-yr, 3.875 loan with cash on hand and a great score. I’m looking for 2.875, 30-yr no cash out on a non-jumbo loan.
Who did you use? I put in 3 apps over the weekend. I’m in a 30-yr, 3.875 loan with cash on hand and a great score. I’m looking for 2.875, 30-yr no cash out on a non-jumbo loan.
Posted on 3/9/20 at 10:32 am to B4YOU
While rates are crazy low, other than obscure cases I have not seen sub-3% on standard 30 year fixed rates YET
as an appraiser I see a lot of contracts so just pointing out what I see
as an appraiser I see a lot of contracts so just pointing out what I see
Posted on 3/9/20 at 10:33 am to burgeman
quote:Dropping PMI and getting into a lower rate is never a bad thing. Depends on how long you plan to stay in the house and when your PMI will drop off currently.
Should I try for a refinance with a 30 yr at 3.625%. I refinanced in 2015 at 167k, paid down to 154k now. I am paying PMI currently.
If they drop even more then i would say yes.
Posted on 3/9/20 at 10:39 am to Shankopotomus
quote:
While rates are crazy low, other than obscure cases I have not seen sub-3% on standard 30 year fixed rates YET
They are out there. I just did a 30-year refi for 2.875 with very low closing costs as well. Principal amount was just below jumbo.
Posted on 3/9/20 at 10:39 am to Drunken Crawfish
Credit is fine, wife is usually at 800+ and I am around 750
Posted on 3/9/20 at 10:40 am to B4YOU
Red River Bank. They are our local bank. This will be our 3rd loan with them and its been very easy each time.
Posted on 3/9/20 at 10:44 am to Drunken Crawfish
Can someone help me?
I'm looking at refinance calculators but I have NO idea what to put regarding refinance fees. Current balance is 106,000 with 14 years left at 3.9.
Also if you do this with someone not local, can it all be done by fax/email/no office visits? We've always used a local bank so I truly have no clue.
I'm looking at refinance calculators but I have NO idea what to put regarding refinance fees. Current balance is 106,000 with 14 years left at 3.9.
Also if you do this with someone not local, can it all be done by fax/email/no office visits? We've always used a local bank so I truly have no clue.
This post was edited on 3/9/20 at 10:51 am
Posted on 3/9/20 at 10:55 am to tiger91
quote:
refinance fees.
Refinance "closing fees" are usually the following and can be rolled in to the new loan if you have enough equity. Some lenders have lower fees but higher rates and vice versa.
Lender fees ($800-1200)
Title Fees ($1000-2000)
Escrows (TBD)
I am local and all my refinances are done via email/phone/fax. My info is in the link a couple posts back if you want to reach out.
Posted on 3/9/20 at 11:00 am to tiger91
I don't work in mortgage or banking. But I have signed most of my documents online via DocuSign. I also bank with them so they have most of my info and account information, though.
Posted on 3/9/20 at 11:07 am to HowboutthemTigers
Thanks == that helps. We have nothing escrowed so yeah for that as well.
Posted on 3/9/20 at 11:15 am to tiger91
We currently have a 30 yr 3.875% mortgage no pmi on primary home. However, we have a HELOC balance as a second mortgage. It’s my understanding that any attempted refi combining the two is a cash-out refi. If so, anyone getting rates on this?
Posted on 3/9/20 at 11:19 am to cmlsu
I got a 3.0% rate on a cash out 30y refi last week.
Posted on 3/9/20 at 11:24 am to NOLAGT
quote:
I got a 3.0% rate on a cash out 30y refi last week
Awesome...what were your closing costs? I’m not sure if I’ll be in this home long term so i doubt it would be worth it for me.
Posted on 3/9/20 at 11:32 am to mylsuhat
quote:
I locked in at 2.625% for 15 years!
Stoked
Went from a 4.25% for 30 years and saving $85k in interest!
That's amazing.
Whats the difference in mortgage price from 4.25% compared to 2.6%?
Posted on 3/9/20 at 11:45 am to CP3LSU25
Just got a new quote on my 30 year jumbo. It wen from 3.2 to 3.125. The agent said that he expects it to be 3 by the end of the week.
Posted on 3/9/20 at 11:46 am to cmlsu
Think 2500ish. I plan to be long term in the home and im using the low cost equity to buy investment property. While its tragic in some sectors this came at a really good time for me and my long term game. Just need to lock up a commercial loan now so hoping for good rates there too.
Posted on 3/9/20 at 11:58 am to NOLAGT
quote:
Think 2500ish. I plan to be long term in the home and im using the low cost equity to buy investment property. While its tragic in some sectors this came at a really good time for me and my long term game. Just need to lock up a commercial loan now so hoping for good rates there
Who’d you go with? I’m in Baton Rouge.
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