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Forum » Miscers with homes, did you REFI?
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Thread: Miscers with homes, did you REFI?

post 1612478231 08-03-2020, 03:04 PM
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Miscers with homes, did you REFI?

While COVID is destroying economies, rates are great!

Rates around 2.50% for 30yr 2.25% 15yr, or did you CEO's buy your house CASH?

If so, who did you use, how was the experience?
445/340/545
post 1612482751 08-03-2020, 03:49 PM
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Fast CEOs
445/340/545
post 1612483601 08-03-2020, 03:58 PM
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Not yet but I haven't really checked into it. Where are you getting 2.5 on a 30 year? Do you know of anywhere that will refinance without me having to fork out more cash?



I only owe 134k at 4% at the moment. Bout 25 years left. Told myself I'd consider refinancing if I could find a place that did 2.5%. A mortgage calculator tells me I'd save around 39K at that rate for 30 years. 32K for a 25 year refinance/considering I owe 25 years left.
post 1612483981 08-03-2020, 04:02 PM
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This came up on the browser this afternoon, was gonna look into it today:

https://get.owning.com/refiquote/?ca...SAAEgJ3-fD_BwE

Edit: Also

https://www.cashcallmortgage.com/rates
445/340/545
post 1612484281 08-03-2020, 04:06 PM
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Yes

2.23 on a 30. Rate was 2.5 on a 15.

Thanks VA
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post 1612484431 08-03-2020, 04:07 PM
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Yep, 15 yr @ 2.875% refi with NBKC bank. Used Costco to find them and saved a bunch on closing costs. Probably could have waited a little longer and gotten a slightly lower rate, but jumped on it when Covid started and didn't know what the future would hold. Really no regrets. NBKC was good to work with. Highly recommend using Costco's site to find them. You have to be Executive to really save.
post 1612486731 08-03-2020, 04:29 PM
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30 yr at 3%, lender fees covered. no out of pocket just rolled into loan
post 1612488511 08-03-2020, 04:47 PM
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post 1612488891 08-03-2020, 04:50 PM
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Originally Posted By guest89⏩
Not yet but I haven't really checked into it. Where are you getting 2.5 on a 30 year? Do you know of anywhere that will refinance without me having to fork out more cash?

I only owe 134k at 4% at the moment. Bout 25 years left. Told myself I'd consider refinancing if I could find a place that did 2.5%. A mortgage calculator tells me I'd save around 39K at that rate for 30 years. 32K for a 25 year refinance/considering I owe 25 years left.
Why would you have to fork out more cash. And why not contact the Leander that did your original loan as a starting point?
post 1612489591 08-03-2020, 04:57 PM
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Originally Posted By FingerNailsBrah⏩
Why would you have to fork out more cash. And why not contact the Leander that did your original loan as a starting point?
I've never researched refinancing but I know a few people that have in the past and they had to pay to refinance. Thousands up front. I haven't actually researched it seriously because my rate is good and I don't owe much but with the rates so low I'm going to have to put some time in.
post 1612550531 08-04-2020, 09:25 AM
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Originally Posted By memcop⏩
Yes

2.23 on a 30. Rate was 2.5 on a 15.

Thanks VA
Great for military brahs, was there an advertised rate for civilians?
Originally Posted By radrd⏩
Yep, 15 yr @ 2.875% refi with NBKC bank. Used Costco to find them and saved a bunch on closing costs. Probably could have waited a little longer and gotten a slightly lower rate, but jumped on it when Covid started and didn't know what the future would hold. Really no regrets. NBKC was good to work with. Highly recommend using Costco's site to find them. You have to be Executive to really save.
Will check out NBKC to see if they finance in CA, thanks.
Originally Posted By ReadyToLift2019⏩
No reason to refi when I bought it in cash to start out with

Chit so good right now and (rates are so low) that the wife and I are considering building a brand new mid century modern clone srs
Strong flex/s.
Originally Posted By SLapCHop⏩
30 yr at 3%, lender fees covered. no out of pocket just rolled into loan
What bank?
Originally Posted By FingerNailsBrah⏩
Working on it rn but my YTD hours are in the toilet cause covid.
Like a lot of COVIDbrahs, guess you gotta wait until it disappears after the election.
Originally Posted By guest89⏩
I've never researched refinancing but I know a few people that have in the past and they had to pay to refinance. Thousands up front. I haven't actually researched it seriously because my rate is good and I don't owe much but with the rates so low I'm going to have to put some time in.
Depends on a lot of things like buying points for a lower rate, who covers the lender fees and closing costs, what they advertise vs what "you" are approved for. Like anything you have to look out for yourself.
445/340/545
post 1612550821 08-04-2020, 09:29 AM
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We refi'd about five years ago. 15yr @ 2.5%. Our rate is too low to refi again. It's not even worth itemizing because our interest expense is so low.


BTW, check bankrate.com for rates and lenders.
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post 1612550861 08-04-2020, 09:30 AM
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Damn.....rates fell even more? I locked into my refi mid June and got 3.125% from previous 4.125%.
post 1612550971 08-04-2020, 09:31 AM
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Originally Posted By jeshelton⏩
Great for military brahs, was there an advertised rate for civilians?



Will check out NBKC to see if they finance in CA, thanks.



Strong flex/s.



What bank?



Like a lot of COVIDbrahs, guess you gotta wait until it disappears after the election.



Depends on a lot of things like buying points for a lower rate, who covers the lender fees and closing costs, what they advertise vs what "you" are approved for. Like anything you have to look out for yourself.
They are sub 3% with good credit right now.
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post 1612551091 08-04-2020, 09:33 AM
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Yes. I was only 2 years into my mortgage. Went from 4.8% to 3.0%.
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<HTC>
post 1612551321 08-04-2020, 09:34 AM
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Originally Posted By phikappa⏩
We refi'd about five years ago. 15yr @ 2.5%. Our rate is too low to refi again. It's not even worth itemizing because our interest expense is so low.


BTW, check bankrate.com for rates and lenders.
Was just browsing that site thanks brah. You have a great rate as it is.
Originally Posted By nrowles⏩
Damn.....rates fell even more? I locked into my refi mid June and got 3.125% from previous 4.125%.
Yup, decimated economies mean cheap interest for a year or so.
Originally Posted By memcop⏩
They are sub 3% with good credit right now.
Good to know, I've got 3.625% now and was hoping to drop a full point to make it worth the amortization restructure.
Originally Posted By JUGGERNAUT1333⏩
Yes. I was only 2 years into my mortgage. Went from 4.8% to 3.0%.
That's a great call, 30 year to 30 year? What bank?
Originally Posted By Anachron⏩
Yes and recommend doing so.

I also recommend securing a line of credit for excess equity in your home before the value drops as well.
I've got a HELOC zero balance they asked to renew up to 350k, shooting for that even if I don't use it.

What bank/s?
445/340/545
post 1612551471 08-04-2020, 09:36 AM
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Originally Posted By jeshelton⏩
Was just browsing that site thanks brah. You have a great rate as it is.



Yup, decimated economies mean cheap interest for a year or so.



Good to know, I've got 3.625% now and was hoping to drop a full point to make it worth the amortization restructure.



That's a great call, 30 year to 30 year? What bank?
Yup 30 to 30, I went with Citizen's Bank. Current mortgage was already with them, so it was an easy refinance.
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post 1612551481 08-04-2020, 09:36 AM
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Originally Posted By jeshelton⏩
Was just browsing that site thanks brah. You have a great rate as it is.



Yup, decimated economies mean cheap interest for a year or so.



Good to know, I've got 3.625% now and was hoping to drop a full point to make it worth the amortization restructure.



That's a great call, 30 year to 30 year? What bank?
Yeha man. You should get at least a point. 2.25 for 15 and 2.50 for 30. Shop SHop SHop
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post 1612551501 08-04-2020, 09:36 AM
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we already refi'd back in december. if we refi'd again now, it would take like 4 years to get to the break even point and i doubt i will still be in that house in 4 years
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post 1612551701 08-04-2020, 09:38 AM
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dropped mine a hair under 3, but probably should have waited a little longer. Oh well. Tried looking at other lenders than our original but it seemed like everyone wanted HUGE $5k or greater fees for doing the refi. I went with my original lender and I think it was $2k total out of pocket which I think I saved within the first year or so.
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post 1612551811 08-04-2020, 09:39 AM
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Originally Posted By memcop⏩
Yes

2.23 on a 30. Rate was 2.5 on a 15.

Thanks VA
^This.

Except when I re-fi'd the rate was at 2.8 for a 30 year fixed. Zero out of pocket.
post 1612552871 08-04-2020, 09:50 AM
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Originally Posted By JUGGERNAUT1333⏩
Yup 30 to 30, I went with Citizen's Bank. Current mortgage was already with them, so it was an easy refinance.
Noted, writing all these banks down to slap chop.
Originally Posted By memcop⏩
Yeha man. You should get at least a point. 2.25 for 15 and 2.50 for 30. Shop SHop SHop
Will keep looking, will likely close the HELOC before I attempt to refi the primary note. VA would be my 100% if I was ex/current militarybrah.
Originally Posted By scooterbrah⏩
we already refi'd back in december. if we refi'd again now, it would take like 4 years to get to the break even point and i doubt i will still be in that house in 4 years
Such is life for homeownercels, I think we did 4 years in our starter home and have been in a nicer neighborhood about 7, still talk about leaving because communist CA.
Originally Posted By RobParks2M⏩
dropped mine a hair under 3, but probably should have waited a little longer. Oh well. Tried looking at other lenders than our original but it seemed like everyone wanted HUGE $5k or greater fees for doing the refi. I went with my original lender and I think it was $2k total out of pocket which I think I saved within the first year or so.
I'm seeing a lot of banks pushing close to 5k fees/points to get down to 2.5% @ 30yr, and staying far away from that chit.
Originally Posted By Bo_Flecks⏩
^This.

Except when I re-fi'd the rate was at 2.8 for a 30 year fixed. Zero out of pocket.
Bank?
Originally Posted By NextPound⏩
2.75 30 year no costs. Literally no costs. Would recommend lender, but they closed down the option for new loans because of backlog.
Damn good on you. Thread is proving not all miscers are retarded.
445/340/545
post 1612553731 08-04-2020, 09:59 AM
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I did, but too soon. Moved from a 30 to a 15 year loan and mortgage stayed the same. Didn't take any money out. Got 3.375% in Feb. US Bank was the lender and they've since sold the loan to Fannie Mae, but is still servicing the note.

I'm hoping to have home paid for in the next 5 years though.
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post 1612554311 08-04-2020, 10:08 AM
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Originally Posted By jeshelton⏩
Bank?
Guaranteed Rate, Inc.
post 1612554581 08-04-2020, 10:11 AM
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only planning to keep my house another 5 years before i go bigger. not worth it for me
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