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xosweetiexo
LIF Adolescent
Member since 8/09 856 total posts
Name:
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Refinance
Has anyone refinanced lately? Do you mind telling me what you got locked in at? Just spoke to someone who said 4 weeks ago, we could’ve locked in at 2.75, but that the rate now has gone up to 3.25%. Debating if I should refinance right now.
ETA: Also, did you go through a bank or mortgage broker?
Message edited 8/15/2020 3:38:38 PM.
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Posted 8/15/20 11:10 AM  |
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LuckyStar
LIF Adult
Member since 7/14 7272 total posts
Name:
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Refinance
I know someone who got 2.3 at the beginning of April.
We just bought and got a smidge over 3 for a 30 year jumbo (we locked in June).
I find it hard to believe they went up THAT much so quickly.
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| Posted 8/15/20 11:12 AM |
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PhyllisNJoe
My Box Is Broken
Member since 6/11 9145 total posts
Name:
Phyllis
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Re: Refinance
It didn’t go up that fast. Just 3 days ago it was 2.7
We have a call into our broker. Hoping we still catch it come Monday when we speak to him.
ETA: we are looking at a 15 yr. so maybe that’s why is lower ?
Message edited 8/15/2020 2:08:53 PM.
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| Posted 8/15/20 2:07 PM |
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queensgal
Smile
Member since 4/09 3287 total posts
Name:
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Re: Refinance
I got a 2.8 for a 10 year. We are in the middle of the paperwork process right now.
The longer the term and if it’s jumbo will usually make the rate higher.
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| Posted 8/15/20 2:55 PM |
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mommy2be716
LIF Adult
Member since 1/16 2921 total posts
Name:
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Refinance
2.75 25 year mortgage, closing in about a week
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| Posted 8/15/20 3:30 PM |
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snoopyaa
LIF Zygote
Member since 7/08 13 total posts
Name:
ang
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Re: Refinance
I looked into 15 year refinance with Chase and closing fees were over 8,000. Rate was 2.75. Is that normal? We had Astoria and they no longer do mortgages so went to another bank.
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| Posted 8/15/20 3:34 PM |
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xosweetiexo
LIF Adolescent
Member since 8/09 856 total posts
Name:
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Re: Refinance
Posted by mommy2be716
2.75 25 year mortgage, closing in about a week
Wow! Do you mind me asking what bank? If you’re not comfortable saying, can you please FM me? I’ve been talking to a mortgage broker, not sure if I should go to a bank instead.
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| Posted 8/15/20 3:40 PM |
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mommy2be716
LIF Adult
Member since 1/16 2921 total posts
Name:
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Re: Refinance
Posted by xosweetiexo
Posted by mommy2be716
2.75 25 year mortgage, closing in about a week
Wow! Do you mind me asking what bank? If you’re not comfortable saying, can you please FM me? I’ve been talking to a mortgage broker, not sure if I should go to a bank instead.
The federal savings bank. Teachers get $500 off closing. Even got the appraisal waived and saved the $$ on that. Very happy so far
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| Posted 8/15/20 9:36 PM |
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FirstMate
My lil cowboy
Member since 10/10 7789 total posts
Name:
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Re: Refinance
WE are refinancing now. We locked in at 2.875 for 20 years. DON'T USE CITI. We have been in the process for 11 weeks and they are telling me I can't close until mid-September.
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| Posted 8/16/20 9:35 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: Refinance
Posted by FirstMate
WE are refinancing now. We locked in at 2.875 for 20 years. DON'T USE CITI. We have been in the process for 11 weeks and they are telling me I can't close until mid-September.
There is some kind of new fee that will be charged for refinancing that begins middle of September I believe. I'd inquire to make sure you won't be expected to pay it!
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| Posted 8/17/20 8:36 AM |
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xosweetiexo
LIF Adolescent
Member since 8/09 856 total posts
Name:
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Re: Refinance
Posted by JandJ1224
Posted by FirstMate
WE are refinancing now. We locked in at 2.875 for 20 years. DON'T USE CITI. We have been in the process for 11 weeks and they are telling me I can't close until mid-September.
There is some kind of new fee that will be charged for refinancing that begins middle of September I believe. I'd inquire to make sure you won't be expected to pay it!
Of course they’re planning on adding another fee to refinance thank you for the heads up!
Message edited 8/17/2020 2:12:12 PM.
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| Posted 8/17/20 2:11 PM |
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FirstMate
My lil cowboy
Member since 10/10 7789 total posts
Name:
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Re: Refinance
Posted by JandJ1224
Posted by FirstMate
WE are refinancing now. We locked in at 2.875 for 20 years. DON'T USE CITI. We have been in the process for 11 weeks and they are telling me I can't close until mid-September.
There is some kind of new fee that will be charged for refinancing that begins middle of September I believe. I'd inquire to make sure you won't be expected to pay it!
They can kiss my big chubby ass if they think I'm paying them another dime! As it is, they said they would extend a courtesy and waive any associated costs with extending my rate lock. Statements like that could land me on an episode of Snapped! Thank you for the heads up though!
Message edited 8/18/2020 2:16:12 PM.
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| Posted 8/18/20 11:59 AM |
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xosweetiexo
LIF Adolescent
Member since 8/09 856 total posts
Name:
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Re: Refinance
Posted by FirstMate
Posted by JandJ1224
Posted by FirstMate
WE are refinancing now. We locked in at 2.875 for 20 years. DON'T USE CITI. We have been in the process for 11 weeks and they are telling me I can't close until mid-September.
There is some kind of new fee that will be charged for refinancing that begins middle of September I believe. I'd inquire to make sure you won't be expected to pay it!
They can kiss my big chubby ass if they think I'm paying them another dime! As it is, they said they would extend a courtesy and waive any associated costs with extending my rate lock. Statements like that could land me on an episode of Snapped! Thank you for the heads up though!
I went today to submit my paperwork and my mortgage broker told me the refinancing fee is already worked into it
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| Posted 8/25/20 9:08 PM |
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Refinance
We refinanced 2.75 for 20 year mortgage at mid- Island mortgage, definitely has been worth it. We have good incentives through my union
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| Posted 8/25/20 9:16 PM |
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mommy2be716
LIF Adult
Member since 1/16 2921 total posts
Name:
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Re: Refinance
Posted by xosweetiexo
Posted by FirstMate
Posted by JandJ1224
Posted by FirstMate
WE are refinancing now. We locked in at 2.875 for 20 years. DON'T USE CITI. We have been in the process for 11 weeks and they are telling me I can't close until mid-September.
There is some kind of new fee that will be charged for refinancing that begins middle of September I believe. I'd inquire to make sure you won't be expected to pay it!
They can kiss my big chubby ass if they think I'm paying them another dime! As it is, they said they would extend a courtesy and waive any associated costs with extending my rate lock. Statements like that could land me on an episode of Snapped! Thank you for the heads up though!
I went today to submit my paperwork and my mortgage broker told me the refinancing fee is already worked into it
Call them back and have it changed. Fannie Mae and Freddic Mac announced yesterday that the fee is now delayed to closings AFTER december 1st. there should be no fee anymore
Message edited 8/26/2020 8:04:39 AM.
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| Posted 8/26/20 8:04 AM |
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xosweetiexo
LIF Adolescent
Member since 8/09 856 total posts
Name:
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Re: Refinance
Posted by mommy2be716
Posted by xosweetiexo
Posted by FirstMate
Posted by JandJ1224
Posted by FirstMate
WE are refinancing now. We locked in at 2.875 for 20 years. DON'T USE CITI. We have been in the process for 11 weeks and they are telling me I can't close until mid-September.
There is some kind of new fee that will be charged for refinancing that begins middle of September I believe. I'd inquire to make sure you won't be expected to pay it!
They can kiss my big chubby ass if they think I'm paying them another dime! As it is, they said they would extend a courtesy and waive any associated costs with extending my rate lock. Statements like that could land me on an episode of Snapped! Thank you for the heads up though!
I went today to submit my paperwork and my mortgage broker told me the refinancing fee is already worked into it
Call them back and have it changed. Fannie Mae and Freddic Mac announced yesterday that the fee is now delayed to closings AFTER december 1st. there should be no fee anymore
That’s great news!! Thank you for sharing! Will definitely give them a call tomorrow
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| Posted 8/26/20 8:47 PM |
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