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Refinance now??
- Thread starter Belchfire1
- Start date
Back to Nias? Went once back in 2015, stayed at Yuni's. Nice for a short stay but I couldn't imagine staying for months on end
Start your day with a shroom smoothie, that’ll get your imagination working.Back to Nias? Went once back in 2015, stayed at Yuni's. Nice for a short stay but I couldn't imagine staying for months on end
ha most people cant stand it after two weeks it turns into the nias prisonBack to Nias? Went once back in 2015, stayed at Yuni's. Nice for a short stay but I couldn't imagine staying for months on end
looking fwd to my 4 month nias prison sentence starting in a few weeks
anyone do a USDA streamlined refinance or have any insight? we got our rate on our condo summer 2017 @ 3.75 with a usda rural loan. looking into refi options now and that seems easiest vs conventional. value of our place has grown by 33% based off what's pending for same unit/floorplan
we went thru costco. they have discounted fees for members. you can choose quotes from up to 5 different companies. we chose first choice and were very happy with their service, rates, etc. worth a look for anyone who is a member.
we were able to refi with 0 appraisal fee, low app fees, bought down a .38pt for a reasonable amt. saved over $300+/mo plus added our prop taxes to our monthly nut.
Wife says theres no guarantee the rates will go lower, and actually may go upwards because of how many refis being applied. Companies have to charge more and take less apps, because they aren't making as much money on the back end. Get it if you can!
we were able to refi with 0 appraisal fee, low app fees, bought down a .38pt for a reasonable amt. saved over $300+/mo plus added our prop taxes to our monthly nut.
Wife says theres no guarantee the rates will go lower, and actually may go upwards because of how many refis being applied. Companies have to charge more and take less apps, because they aren't making as much money on the back end. Get it if you can!
to my points above.....
www.cnbc.com
Mortgage rates could be even lower, but lenders are struggling to keep up with demand
A sharp drop in mortgage interest rates has sparked a sudden and unexpected refinance boom that has lenders large and small scrambling to handle the volume.
agreed. in the big picture i would MUCH rather have the corona hysteria safely go away with minimal impact then save .25 on a mortgage on a vacation/rental investment. My business has ground to a halt right now as people "wait and see" what happens, especially in large cities and transit systems. I'm not worried long term, but yeah the next few months, if this persists, could make a huge dent in my income. In fact, in 4-6 weeks, right before closing on the condo- if things are really dire and it looks like my income will nosedive, adios vacation condo.
My paperwork is in. Locked in at 3.375. Down from 4.25.
Saving me $200 a month. We just lost all my wife's income so this will help.
Glad we live beneath our means and can still pay bills and even save without her income. There's going to be alot of people in serious financial trouble if this drags on for months.
Maybe I'll lose the $300 cable and internet bill. Perfect time to do it.
Saving me $200 a month. We just lost all my wife's income so this will help.
Glad we live beneath our means and can still pay bills and even save without her income. There's going to be alot of people in serious financial trouble if this drags on for months.
Maybe I'll lose the $300 cable and internet bill. Perfect time to do it.
Locked in 3.125 but the new paperwork had an error so waiting for the updated docs to sign. Makes me nervous and pissed. Loan officer assured me I’m locked and not to worry. I was told my loan was sent to processing. I recommend calling and emailing your people. They are way backed up and your loan might get lost in the pile.
Nice, how many years? I was quoted 2.75% for 15 and 3.25% for 20, but neither of those would work for me. I could drop my % by a quarter percent, but not worth it with the closing costs of $3k.
Noob here, have a 30 year mortgage and now a car payment. Is it really worth refinancing? Don’t you end up giving the bank more money through interest and extending the payment period? Other than that what other negatives do you guys find?
Check the closing costs. Those will be added to the principal and averaged into the life of the loan. Therefore if the closing costs are $2000, and the lower rate lowers your payment by $50, you will have to stay in your house for another 40 months to break even.
If the closing costs are less than $1000 and you are planning to stay for at least a few years, that is less of a concern.
30 years for me. Be prepared for the prepaid interest. 30 days. Keep in mind you’ll likely ’skip’ a months payment.
yeah you’re resetting the clock, but at your current balance (if you’re not cashing out). So, you’re really not taking on new debt - I think. I’m looking at the short term. Decrease monthly by $400? Sign me up!
I’m less than 4 years into my mortgage
id do it. I’d be kicking myself if I didn’t do the application a couple weeks ago
yeah you’re resetting the clock, but at your current balance (if you’re not cashing out). So, you’re really not taking on new debt - I think. I’m looking at the short term. Decrease monthly by $400? Sign me up!
I’m less than 4 years into my mortgage
id do it. I’d be kicking myself if I didn’t do the application a couple weeks ago