what are the negatives/costs to refinancing?

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Feb 28, 2020
2:47:39pm

itsame 3rd String

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itsame

Bio page: itsame
Joined: Apr 12, 2019
Last login: Sep 17, 2022
Total posts: 605 (1 FO)

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Messages

Author

Time

Rates are 3.125% to 3.375% fixed for 30 years. Refinance, people!

mulletino vergüenza ajena

2/28/20 2:17pm

I'm sure my wife will understand me taking financial advice from someone on CB

MikeDitka'sStache

2/28/20 2:18pm

He's legit. Just keep something in mind: There's no such thing as a "no cost"

El Fuego

2/28/20 2:20pm

You'd be one of dozens who have followed people's recommendations to listen to him and been thankful for it.

cougfanblue

2/28/20 2:25pm

ha ha. So true. But hundreds can vouch for me. Or use your past guy. Just a PSA more than anything.

mulletino

2/28/20 2:29pm

I've used him 5 times. He's great. Even hooked me up with a few

jwf

2/28/20 2:48pm

He’s done well for me for 5 years now.

breakingblue

2/28/20 6:07pm

Hear hear! Crazy good deals in the mortgage marketplace right now.

monteburns

2/28/20 2:18pm

What are you seeing for 15 year? Seems like the rates haven't moved much as I would have expected given the

cheezedawg

2/28/20 2:19pm

Just saw city creek 15 yr fixed at 2.75%

TempeCoug

2/28/20 2:20pm

How many points? What was the APR?

cheezedawg

2/28/20 2:22pm

Just go here and no I don’t work for them.

TempeCoug

2/28/20 2:24pm

I already went there and they wanted my contact info for a rate quote. so I bailed. Screw that.

cheezedawg

2/28/20 2:24pm

Oh- now I see the table at the bottom. Thats 2.951% APR, so quite a bit higher than what I was looking at

cheezedawg

2/28/20 2:25pm

High 2s with costs. 3% flat with no costs.

mulletino

2/28/20 2:30pm

Dang, I just found this: 2.375% with .7 points, APR 2.52% for a 15 year fixed

cheezedawg

2/28/20 2:46pm

Crazy. Yeah, I never quote with points.

mulletino

2/28/20 2:50pm

Here is there quote for no points:

cheezedawg

2/28/20 2:52pm

Crazy. Yeah, everyone needs to lock in lower debt payments.

mulletino

2/28/20 3:03pm

I emailed the place- my bet is that these rates are vapor

cheezedawg

2/28/20 5:31pm

Sounds clickbaity.

mulletino

2/28/20 5:48pm

But the heinakenvirus

TNT

2/28/20 2:20pm

I just locked 2.75 fixed for 30 yrs. no points!

TheLoanArranger

2/28/20 2:20pm

Are banks as evil as they say?

TNT

2/28/20 2:22pm

Much more so. Imagine if Cruella de Vil and The Brain had a baby

TheLoanArranger

2/28/20 2:29pm

Insane.

mulletino

2/28/20 2:28pm

I have a few rental properties in the high 4 and I‘m interested

Bell of the Ball

2/28/20 2:21pm

Probably high 4s on those.

mulletino

2/28/20 2:28pm

I wish I could lock rates now for a build in the late summer early fall.

Ycrazy

2/28/20 2:27pm

I wouldn't sweat it, rates are projected to stay in this range for the year.

monteburns

2/28/20 2:34pm

What if I'm already at 3.5?

Huge Manatee

2/28/20 2:27pm

Do it anyway on a no fee loan.

mulletino

2/28/20 2:29pm

How would one go about this?

Ojiisan

2/28/20 2:47pm

go to his website

jwf

2/28/20 2:52pm

BM sent.

mulletino

2/28/20 3:04pm

Send me your website please

TempeCoug

2/28/20 3:33pm

BM sent.

mulletino

2/28/20 3:38pm

Send me your website, I know a couple people who need to refi

Cougrrrs Roll

2/28/20 6:52pm

sent

mulletino

2/28/20 7:45pm

I'm at 3.5% 30 year, if it makes sense for me, I'd like more info / your website

ray ray

2/28/20 8:02pm

Cheapest way to refinance? Is Quicken Loans really the cheapest option?

Bluesangue

2/28/20 2:31pm

Not even. We use Quicken Wholesale in my brokerage, and the retail is far more

monteburns

2/28/20 2:33pm

Yep. Quicken retails is garbage. Quicken Wholesale is pretty good.

mulletino

2/28/20 5:05pm

what are rates at for 15?

Nuke

2/28/20 2:31pm

High 2s with fees. 3% with no fees for many.

mulletino

2/28/20 2:34pm

What's the 10 year rate?

El Fuego

2/28/20 2:38pm

BM coming

mulletino

2/28/20 2:39pm

Ugh I just refinanced last week with a 3.5%

cougarnerd

2/28/20 2:41pm

what are the negatives/costs to refinancing?

itsame

2/28/20 2:47pm

I wish I could get the same for my investment properties

jhingman

2/28/20 2:52pm

mid- to high-3s on those. Still great!

mulletino

2/28/20 3:05pm

Must be owner occupied?

ag4cougs

2/28/20 2:55pm

Yes but still great for 2nd homes/INVs.

mulletino

2/28/20 3:05pm

What if I want to borrow Jumbo. Say, 650K? Asking for Superkid.

frontrowcougar

2/28/20 2:57pm

Only slightly higher. Still great.

mulletino

2/28/20 3:05pm

I cannot refinance something I no longer have.

SierraCoug

2/28/20 3:06pm

Do I just BM you for more info?

scootsy

2/28/20 3:08pm

yep! Or contact your lender. Really just a PSA for all. But I'd be happy to look into it for you!

mulletino

2/28/20 3:10pm

RE: Rates are 3.125% to 3.375% fixed for 30 years. Refinance, people!

Philosoraptor

2/28/20 3:20pm

Done yesterday (was in process before rates dropped again)

byujdmba

2/28/20 3:37pm

I'm at 3.5%, how low do they need to go for it to make sense for me to refi?

Gente_Boa

2/28/20 4:17pm

Depends. If it's me and there are no fees, I'd do it with any rate drop. NV license in process!

mulletino

2/28/20 5:04pm

Tagged.

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