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Thread: Shopping for a mortgage
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02-28-2020, 11:32 AM #51
Any recs on who I should talk to in NY?
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02-28-2020, 11:38 AM #52
Anyone have a guy in OR? Looking to refi, and my current mortgage carrier (USBank) is making it difficult.
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02-28-2020, 11:44 AM #53
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02-28-2020, 11:45 AM #54Registered User
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- Aug 2006
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- 376
Trying to lock in a 3.375 on a ~$365k refi in CO. Anyone else in the front range seeing better? Wife (800+) and I (~760) both have strong credit.
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02-28-2020, 11:46 AM #55
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02-28-2020, 11:47 AM #56
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02-28-2020, 11:49 AM #57
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02-28-2020, 11:52 AM #58Registered User
- Join Date
- Aug 2006
- Posts
- 376
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02-28-2020, 12:16 PM #59
Where are you located? I have never found this process anywhere close to used cars. First, always get referrals, that cuts down on the unscrupulous guys. Second, check with a credit union if you have one. Third, use zillow as has been recommended (and read the reviews to make sure your selection is reputable).
On zillow, I saw 3.25. Cruiser on here turned me on to a guy that is usually slightly better than zillow. So yeah, you can probably do better but not much better."fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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02-28-2020, 12:46 PM #60Registered User
- Join Date
- Oct 2007
- Posts
- 12,677
We just refinanced and got 3.375 under similar circumstances. Knocked $350 off our monthly payment so that was nice.
Now I’m trying to figure out how to refi a portfolio loan on another home. Any ideas? Property type basically requires a portfolio loan due to the building having a large percentage of retail. Loan is a 4.25% currently but is a 7/1. Would like to lock it in on a 30 but that isn’t always an option with portfolios.
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02-28-2020, 12:47 PM #61
I'm just a tick over 550 because I missed a couple payments on the Bentley and a chick I met on Ashley Madison rang some stuff up at Nieman Marcus. Any idea what my rate would be on a 30yr?
"timberridge is terminally vapid" -- a fortune cookie in Yueyang
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02-28-2020, 01:03 PM #62
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02-28-2020, 01:15 PM #63
Not exactly. Her name was Svetlana. She had me dress up like a Tsar, then she donned a Bolshevik outfit and would attempt to "revolutionize" me. Our safe word was 'perestroika,' which I learned if mispronounced, sounded like another Russian word which meant "hit me harder."
I haven't met Bobby's Ashlee. Yet."timberridge is terminally vapid" -- a fortune cookie in Yueyang
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02-28-2020, 01:23 PM #64
we're getting told 2.8% on a 15 by detrusor's guy - seems like an honest and straightforward broker, does that sound about right for today's rates to everyone else? 300k in slc
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02-28-2020, 01:58 PM #65
Hard to predict I know, but any sense among the mortgage guys as to whether rates may go down even further given the virus turmoil?
I’m at 4.75 and def looking to refi.
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02-28-2020, 01:59 PM #66
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02-28-2020, 03:13 PM #67
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02-28-2020, 03:22 PM #68
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02-28-2020, 04:23 PM #69
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02-28-2020, 04:26 PM #70
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02-28-2020, 04:33 PM #71
I refi'd to 3.6 a few years ago and figured that was about as good as I could ever do and I'd never worry about it again. I don't want to restart the amortization clock, but things are getting low enough to make me think about it. 3.6->3.2 only saves about $40/mo, but if they went under 3.0 I might have to do it. It's crazy to think that 8-10% was normal not too long ago.
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02-28-2020, 05:06 PM #72
Similar situation here. Went from a 30-year at 4.0% to a 20-year at 3.125% after about 3 years of owning the place. I thought that would be the end of that but dropping to a 15-year below 3% after only a couple of years would mean unchanged payments and shortening the clock by 3 years. Tempting...
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02-28-2020, 05:07 PM #73
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02-28-2020, 05:10 PM #74
Make sure you’re getting a 60 day rate lock included. Everyone is going to be jammed and unlikely able to make a normal 30 day work with the spike in volume
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02-28-2020, 05:25 PM #75
A 60 day lock does cost .50% more in fees than a 30 day lock normally. On a $350,000 loan amount that is $1,750 more If the guy tells you he will get it done, then the lock extension cost is on him or at least that is how I handle it.
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