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aliwnec10
mom of 3 boys
Member since 4/06 11426 total posts
Name:
Ali
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Refinancing questions...
Okay ladies/gentlemen...
Can i ask...
-what kind of rate did you get?
-what were your closing costs/extra fees like?
-how much money did you save?
-what did you have to provide in order to refinance? I ask because one company is asking for A LOT and the other isn't.
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Posted 3/17/09 11:50 AM  |
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Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
MikesCutie
May 26, 2007
Member since 12/07 1478 total posts
Name:
Marianne
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Re: Refinancing questions...
Posted by aliwnec10
Okay ladies/gentlemen...
Can i ask...
-what kind of rate did you get?
-what were your closing costs/extra fees like?
-how much money did you save?
-what did you have to provide in order to refinance? I ask because one company is asking for A LOT and the other isn't.
We actually just called the mortgage company last night to find out about refinancing.
We were quoted a rate of 4.375%. The closing costs were about $10,000. We actually wouldn't be saving too much because the house would have to be reappraised and in this market, I doubt it will be appraised for the amount they are looking for. If it isn't, then we'd have to pay PMI and that basically brings us back to what we are paying now.
We were interested in lowering the mortagage to 15 years instead of the 30 we have now but that was $600 more a month because of that stupid PMI... not worth it for us in the end.
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| Posted 3/17/09 12:37 PM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: Refinancing questions...
We're in the middle of it right now.
Our rate is 4.875% and we're saving about $270/month. We have to provide our last 2 pay stubs and tax returns for the last 2 years because my husband has his music business as well.
Our closing costs I think are going to be about $7000. We don't have a final estimate yet.
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| Posted 3/17/09 12:45 PM |
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aliwnec10
mom of 3 boys
Member since 4/06 11426 total posts
Name:
Ali
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Re: Refinancing questions...
were you guys charged a fee to get quotes in the first place?
One place requires a $350 fee for the application i guess. Is this right or on par? 
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| Posted 3/17/09 1:57 PM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: Refinancing questions...
We were not charged to get quotes. We were charged a $95 application fee once we said let's go ahead and refinance.
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| Posted 3/18/09 8:52 AM |
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