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Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
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TONS of refi questions
Who did everyone use to refi with?
Did you stay with your current bank (we currently have Wells) or did you use someone else bc they gave a better rate etc.
How much was everyone's Closing Costs? and What rate did you get?
Was it a HARP loan?
TIA!
Message edited 4/30/2012 12:04:57 PM.
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Posted 4/30/12 12:04 PM  |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: TONS of refi questions
Refi'd with same bank. Chase. Excellent all around. We did it under the Harp plan.
Our costs without pre-paids were about $6K if I remember correctly.
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| Posted 4/30/12 12:24 PM |
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Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
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Re: TONS of refi questions
Posted by Blu-ize
Refi'd with same bank. Chase. Excellent all around. We did it under the Harp plan.
Our costs without pre-paids were about $6K if I remember correctly.
What do you mean by Prepaids??
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| Posted 4/30/12 1:09 PM |
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Aubreysmommy
LIF Adolescent
Member since 5/10 499 total posts
Name:
Baby Noelle is here!
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Re: TONS of refi questions
Stayed with the same bank (BOA).
We did a 15 yr fixed at 2.5%.
Closing costs were ~6k, which we put into the loan.
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| Posted 4/30/12 1:13 PM |
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MrsS1976
LIF Adolescent
Member since 5/11 534 total posts
Name:
M
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Re: TONS of refi questions
Stayed with same bank (Mid Island) got a rate of 4.75% for a 30 yr fixed (investment property). No points. Closing costs were $2500 (paid out of pocket).
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| Posted 4/30/12 1:29 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: TONS of refi questions
Posted by Serendipity
Posted by Blu-ize
Refi'd with same bank. Chase. Excellent all around. We did it under the Harp plan.
Our costs without pre-paids were about $6K if I remember correctly.
What do you mean by Prepaids??
Pre-paids are things you have to pay like insurance, taxes and principal. These have to be either paid up front or rolled into the loan. They are not considered closing costs or fees to refi.
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| Posted 4/30/12 2:36 PM |
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JDubs
different, not less
Member since 7/09 13160 total posts
Name:
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Re: TONS of refi questions
we ended up going w/ a different bank because of a realtor recommendation and because the loan officer i spoke with told us we could close in 4 weeks, and there would only be 4k in closing costs... turns out we had more like 6k in closing costs which we rolled in, then we had to bring a little over 5k in closing costs to cover our taxes/insurance (we should be getting most of that back though.) and took more like 2 months to close (we had to wait for the CEMA which eliminated most of the transfer tax). We got a 4.125% rate (broker locked as rates were going up about a month or so ago).
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| Posted 4/30/12 4:37 PM |
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KM123
LIF Zygote
Member since 2/11 37 total posts
Name:
Kate
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Re: TONS of refi questions
same bank (Wells), 30 year, no points, 3.875%. Rolled all the closing costs in so i forget what they were. sorry. we went down a full point in less then a year! love REFI!
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| Posted 5/1/12 11:27 AM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: TONS of refi questions
Sorry, I had misinformation.
Message edited 5/2/2012 10:18:58 AM.
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| Posted 5/1/12 2:09 PM |
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caps612
In love with my little guys!!
Member since 8/10 5108 total posts
Name:
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Re: TONS of refi questions
We stayed with Wells, 4%. Closing costs were around $4K.
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| Posted 5/1/12 3:14 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: TONS of refi questions
Posted by Cheeks24
You can only do a HARP if you are upside down, otherwise it's a traditional refi.
I did a HARP refi and I am not underwater. HARPis a government program. If your loan is owned by Fannie or Freddie you can refi under HARP.
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| Posted 5/1/12 4:16 PM |
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Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
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Re: TONS of refi questions
Posted by Blu-ize
Posted by Cheeks24
You can only do a HARP if you are upside down, otherwise it's a traditional refi.
I did a HARP refi and I am not underwater. HARPis a government program. If your loan is owned by Fannie or Freddie you can refi under HARP.
Yes that is what we were told as well.
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| Posted 5/1/12 5:18 PM |
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