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Refi's

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  • Nick NikonNick Nikon Posts: 3,103 Captain
    Mr. Cooper offered to refinance our rental at 3.99% ... .

    It would put another $222 per month in the bank.

    Might be able to do better, but there's No cash-out allowed.

    The Feds put a stop to that a few weeks ago.
  • mplspugmplspug Palmetto FloridaPosts: 11,904 AG
    mplspug said:
    mplspug said:
    Thanks @ferris1248 I'll give him a call and see if it makes sense.
    Well your guy took a week to respond.  I just happened to call MR C. directly yesterday morning. It looks like I'll get a decent knock down on my monthly payment, especially since I am sticking with a 30 year.   I really wish I was in a position for a 15 year term. 

    I am not counting my chickens until I have it all signed.  They are so backed up it is taking up to 60 days to process.  Yes, you get locked in, but things can happen in 60 days.  I got the last of the paperwork in.  I hope it all goes through before the Feds talk this afternoon.  Who knows what that could do.  
    All paperwork has finally been uploaded.  Should be getting locked in at 3% and we only have to pay for the appraisal.  In fact he said we should be getting a small amount money back at the signing. Everything was structured into the financing. 

    Now we wait on the appraisal and processing.

    Captain Todd Approves

  • ferris1248ferris1248 Posts: 7,963 Moderator
    I'm waiting on mine to be completed. They have a problem with some warehouses I own.

    "That which is hateful to you, do not do to your fellow. That is the whole of the law. The rest is commentary."

    Rabbi Hillel (c20 BCE)

  • manleymanley Posts: 887 Officer
    I'm currently working on my through Quicken Loans / Rocket Mortgage.  Going from 4.125% with 24 years and 9 months remaining to a 15-year fixed at 2.625%.  I'm not terribly thrilled, because they are also hitting me with 1.875 points to buy the rate down. What are y'all (and you - ferris1248) seeing on points? I'm in Texas, if that matters.
  • mplspugmplspug Palmetto FloridaPosts: 11,904 AG
    I'm waiting on mine to be completed. They have a problem with some warehouses I own.
    Well, my hold up was getting a statement on a loan that still has my name on it from almost 30 years ago.  My daughter's mom.  I wish I could force her to refinance and get my **** name off of it. 

    Captain Todd Approves

  • micci_manmicci_man Somewhere in FLPosts: 14,472 AG
    manley said:
    I'm currently working on my through Quicken Loans / Rocket Mortgage.  Going from 4.125% with 24 years and 9 months remaining to a 15-year fixed at 2.625%.  I'm not terribly thrilled, because they are also hitting me with 1.875 points to buy the rate down. What are y'all (and you - ferris1248) seeing on points? I'm in Texas, if that matters.
    i didn't have to buy any points
    Common Sense can't be bought, taught or gifted, yet it is one of the few things in life that is free, and most refuse to even attempt to possess it. - Miguel Cervantes
  • micci_manmicci_man Somewhere in FLPosts: 14,472 AG
    mplspug said:
    mplspug said:
    mplspug said:
    Thanks @ferris1248 I'll give him a call and see if it makes sense.
    Well your guy took a week to respond.  I just happened to call MR C. directly yesterday morning. It looks like I'll get a decent knock down on my monthly payment, especially since I am sticking with a 30 year.   I really wish I was in a position for a 15 year term. 

    I am not counting my chickens until I have it all signed.  They are so backed up it is taking up to 60 days to process.  Yes, you get locked in, but things can happen in 60 days.  I got the last of the paperwork in.  I hope it all goes through before the Feds talk this afternoon.  Who knows what that could do.  
    All paperwork has finally been uploaded.  Should be getting locked in at 3% and we only have to pay for the appraisal.  In fact he said we should be getting a small amount money back at the signing. Everything was structured into the financing. 

    Now we wait on the appraisal and processing.
    Same here. Paid $500 for the appraisal and nothing else. We got  back  $2,160.00 when we went in and put ink on paper. Our monthly payment includes property taxes and insurance too. 
    Common Sense can't be bought, taught or gifted, yet it is one of the few things in life that is free, and most refuse to even attempt to possess it. - Miguel Cervantes
  • mplspugmplspug Palmetto FloridaPosts: 11,904 AG
    I don't think will get that big of a chunk on signing because we had a short last year in escrow because our property taxes ballooned last year as stated in a thread several months ago.

    Captain Todd Approves

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