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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Those who refinanced in the last few weeks...
what was your rate?
Chase is offering us 4.875 on fixed thirty year. we are currently at 6.25 for the next 28 years...
since we already have our loan with them, closing costs are low and paperwork and running around is minimal. We are locking in but they will give us a lower rate should it drop before closing...
we will save $385 per month....
sound good....
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Posted 9/13/10 12:00 PM  |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: Those who refinanced in the last few weeks...
That sounds like a good rate. Someone my MIL works with got 4.3 last week.
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| Posted 9/13/10 12:27 PM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: Those who refinanced in the last few weeks...
Posted by Mici C
That sounds like a good rate. Someone my MIL works with got 4.3 last week.
what is appealing to me...is that b/c we are with chase already...the paperwork is minimal and the running around is much less. we do not have to get a new appraisal b/c they are accepting the electronic appraisel already in the system that they have.
our credit union had much lower rates...but they can be a huge PITA to deal with loans and such!!!
Message edited 9/13/2010 12:40:27 PM.
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| Posted 9/13/10 12:40 PM |
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VeeJay
Love baby feet
Member since 2/09 2894 total posts
Name:
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Re: Those who refinanced in the last few weeks...
I went to teachers federal credit union and their rate for a 20 year was a little less than 4%. I'm not exactly sure what the rate for a 30 year was.
The darn closing costs are ridiculous, but about half of it is my escrow account.
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| Posted 9/13/10 12:40 PM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: Those who refinanced in the last few weeks...
Posted by VeeJay
The darn closing costs are ridiculous, but about half of it is my escrow account.
Another reason why we are staying with chase b/c we are not transferring our loan, we do not have to pay a ton of closing costs....
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| Posted 9/13/10 12:42 PM |
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TreAnt427
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Member since 8/06 8652 total posts
Name:
Tracy
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Re: Those who refinanced in the last few weeks...
I'm re-fing with US Bank who currently has my mortgage. Locked in at 4.5 from 6.625 saving over $400/month
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| Posted 9/13/10 6:24 PM |
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cutie
LIF Adult
Member since 2/06 1893 total posts
Name:
Janine
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Re: Those who refinanced in the last few weeks...
Posted by VeeJay
I went to teachers federal credit union and their rate for a 20 year was a little less than 4%. I'm not exactly sure what the rate for a 30 year was.
The darn closing costs are ridiculous, but about half of it is my escrow account.
Last week a 30 was at 4% (its now 4.3, but I wouldn't be shocked if it went back down). We are refinancing with them and while the closing costs are a lot we are financing them. Over the life of the loan, a percentage rate difference of .8% would be just over $61,000 - a lot more than we are paying in closing costs.
We are currently at Wells Fargo with 5.875%, so going to Teachers at 4% will save us over $700 a month.
Also, if you refinance with a different bank, your current lender will refund any $$ that is currently held in escrow.
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| Posted 9/13/10 6:43 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: Those who refinanced in the last few weeks...
You don't have to include the pre-paids into the loan. You could pay them at closing and then get the refund from your current lender if you wanted to switch banks.
I'm investigating this now. I'm with Chase and their rates suck compared to others but the convenience of doing a no doc or low doc loan is tempting.
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| Posted 9/13/10 6:43 PM |
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sleepie76
enjoying every minute
Member since 12/07 3881 total posts
Name:
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Re: Those who refinanced in the last few weeks...
I was with Chase @ 5.875%. Their rates were not worth staying for.
I got 4.5% from citibank and locked in 2 months ago. Chase was offering me 5.00% at the time.
I would think the rates are closer to 4.3% now from what I have seen.
You can Assign the loan, so you save on the mortgage tax. That will save you THOUSANDS if you switch banks.
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| Posted 9/14/10 7:56 AM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: Those who refinanced in the last few weeks...
Posted by Blu-ize
I'm with Chase and their rates suck compared to others but the convenience of doing a no doc or low doc loan is tempting.
I just got 4.75...locked in...and it took one hour to secure the refinance...we go to closing in 60 days or less...
the process was so fast it was ridiculous...we will not be staying in our house for the next 30 years...so it worked for us....
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| Posted 9/14/10 12:01 PM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: Those who refinanced in the last few weeks...
4.875 from 6.75
we are saving almost 500 per month 
we stayed with Wells Fargo, minimal closing costs, paperwork and hassle!
Message edited 9/14/2010 12:13:09 PM.
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| Posted 9/14/10 12:11 PM |
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sunnyflies
LIF Adult
Member since 9/09 1757 total posts
Name:
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Re: Those who refinanced in the last few weeks...
How did you manage that? Lucky you. Chase wanted a new appraisal when we inquired.
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| Posted 9/14/10 1:10 PM |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
Name:
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Re: Those who refinanced in the last few weeks...
4.375 staying with Citibank. Appraiser is coming tonight  We are only saving $22 a month but went from a 30 to a 20 year mortgage.
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| Posted 9/14/10 1:30 PM |
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curley999
Family!
Member since 5/05 2314 total posts
Name:
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Re: Those who refinanced in the last few weeks...
My original mortgage is with Chase at 6.25%, when I called to refi, they said they were maxed out on mortgage loans and referred me directly to Quicken Loans and even transferred my info to them on the call. I am surprised to hear that everyone else has the opportunity to stay with chase.
Anyway with Quicken I went down to a 15 year at 3.87% with about 6K closing cost and the payment is still $30 less a month. We did however make additional principle payments on the original mortgage.
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| Posted 9/14/10 1:34 PM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: Those who refinanced in the last few weeks...
The 1-800 number at bank of america told me that my house was worth between 299-319k and they would mortgage up to 298K i'd have to put 30K down.
haha. 
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| Posted 9/14/10 4:12 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: Those who refinanced in the last few weeks...
Yes, Chase will raise rates to slow the refi process.
wow...
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| Posted 9/14/10 5:06 PM |
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MrsPowers
So blessed!
Member since 11/06 10348 total posts
Name:
Ivelysse
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Re: Those who refinanced in the last few weeks...
WE just closed on our refinance today! We were at 6.25% and we refinanced at 4.5% for 30 years. Our closing costs were minimal and we are saving about $450/month! I am so happy!
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| Posted 9/14/10 7:13 PM |
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nicrae
He's here!
Member since 12/06 9289 total posts
Name:
Mommy
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Re: Those who refinanced in the last few weeks...
We were supposed to refi with BFCU but someone screwed up and forgot to mention that we couldn't do it because we have an 80/20 with BOA and our house is worth less than what we owe.
So we went with BOA who already holds our mortgages. We are refi our first mortgage from 6.25 to 5.125. We are saving $430 dollars a month. Our closing costs are $4398. With Bethpage they would have been $18K. We do not have to do any of the paper work like sending in our pay stubs etc and we do not have to have our house appraised.
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| Posted 9/14/10 8:37 PM |
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sunnyflies
LIF Adult
Member since 9/09 1757 total posts
Name:
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Re: Those who refinanced in the last few weeks...
I'll have to call Chase to see what it has to say. Our mtg is with them. But, I read that Astoria has a 4.5% rate. What are average bank closing costs? Any one know? Do they vary from bank to bank? I'm so ignorant.
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| Posted 9/15/10 12:00 PM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: Those who refinanced in the last few weeks...
Posted by sunnyflies
I'll have to call Chase to see what it has to say. Our mtg is with them. But, I read that Astoria has a 4.5% rate. What are average bank closing costs? Any one know? Do they vary from bank to bank? I'm so ignorant.
It really depends. If you stay with your current lender, you'll save on closing costs.
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| Posted 9/15/10 12:27 PM |
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