Mortgages: Refinance or Purchase at 3.125% with $0 closing costs or even a credit towards closing with Box Home Loans

Quote from Kanjuice : If you have not paid anything out of pocket yet, i would just call and tell them you do not want to refi anymore. Find another lender first... I just got a rate of 3.375% for 30 yr, 80% LTV without any costs. I am in Michigan. Found multiple persons offering those same rates....

I've been charged for the appraisal and reimbursed with points. I don't know if I can pull out at this moment.

I'm refi'ing for more than $417K so am gonna pay slightly more than the conforming loans.

I refinanced with Provident. It was closed a week ago. The whole process took about two months. I have two rooms with no permits in the garage and they said that they would deny my loan. But they later changed their mind and said that they would approve my loan. So, I think that provident is good if everything is standard. But if you have any modification to your home, you will need to be careful.

Quote from gotojanoo : Can they refinance without appraisal or if they credit back appraisal if appraisal came low? Wanna refinance currently have 4.75.,but 3 month ago appraisal came 25k low. Don't wanna risk 500 more for appraisal lol.

Yes there are loans that dont require appraisals such as Fannie Mae DU Refi Plus or Freddie Mac Open access, but both programs need an AUS (automated underwriting system) report stating the appraisal waiver. Also both programs, you note must have recorded with Fannie or Freddie prior to June 1, 2009. Also, both programs were designed to help home owners that are up side down. Hope this helps.

Quote from gotojanoo : Can they refinance without appraisal or if they credit back appraisal if appraisal came low? Wanna refinance currently have 4.75.,but 3 month ago appraisal came 25k low. Don't wanna risk 500 more for appraisal lol.

Noadays, most lenders have no control over where the appraisal will go.
I went thru the same frustration last yr. Got a great rate from Amerisave but the appraiser screwed me, he came 45,000 less.
Instead then in dec 11 I went with this other lender who was able to use a drive by appraisal.I went to 3.875 @30 for no closing cost then.

Now I am ready to do refi again - 2.875 @ 15yr with no closing costs to me.

Does Box Home Loans lend loans for investment properties?

Quote from aunghtain : Does Box Home Loans lend loans for investment properties?

But I don't see why not. It would be worth a call to find out.

Quote from Schooby : But I don't see why not. It would be worth a call to find out.

I can't find an option to choose investment properties for rate calculator.

Quote from aunghtain : I can't find an option to choose investment properties for rate calculator.

You should give them a call...but wouldn't you pick residential property?

Quote from aunghtain : I refinanced with Provident. It was closed a week ago. The whole process took about two months. I have two rooms with no permits in the garage and they said that they would deny my loan. But they later changed their mind and said that they would approve my loan. So, I think that provident is good if everything is standard. But if you have any modification to your home, you will need to be careful.

How did they find out about those rooms?
The reason I am asking is because I finished my basement and built a sizable deck all up to code, just no permits.

Thanks

Quote from Zurg : How did they find out about those rooms? The reason I am asking is because I finished my basement and built a sizable deck all up to code, just no permits. Thanks

During appraisal. The appraisal guy said the total square feet didn't match with the record. He said that he had to report it.

Quote from Schooby : You should give them a call...but wouldn't you pick residential property?

i just chatted with them online. they dont loan for investment properties.

Quote from dssproxy : Who do you think buys mortgages from BHL.. Closed Sept 17th.

I was told it was usually Wells Fargo, Penny Mac, or Providence. It's too bad they're so swamped because the customer service could have been better, especially since I had to close a day later. I'd probably refinance with them again. Their rates were too good to pass up. Hopefully the next one will be smoother.

Quote from aunghtain : i just chatted with them online. they dont loan for investment properties.

Bummer..sorry but thanks for the info. It might help others.

Quote from OCSD : I was told it was usually Wells Fargo, Penny Mac, or Providence. It's too bad they're so swamped because the customer service could have been better, especially since I had to close a day later. I'd probably refinance with them again. Their rates were too good to pass up. Hopefully the next one will be smoother.

Yeah mine from Jan was sold to PennyMac. I never had any issues with them. I kind of hope it goes back to them again since it was trouble free.


I did talk to the loan officer the other day (I had a follow up comment for him) and while talking he did ask that I email him with any feedback or suggestions on what I think would help it run smoother. I mentioned that a few people on the forum commented on how long it took and were a bit concerned that their lock date might get passed up. He said they were working on that since yes, they did get swamped with the drop of interest rates. They want to reduce the amount of time it takes for the process to be completed. When I did mine in Jan. I think it only took about a month. This time I was down to being within a few days of my lock date ending.

Feel free to shoot them an email with any feedback. All-in-all I have been happy with the service and admit that when I did this the first time in Jan I was very skeptical and a bit nervous doing this all on line but it went quite well.
They seem to have really good customer service.


Heck if the rates keep going down I just might do this again in a few months





* And I just got word that it was indeed sold to PennyMac again

Who is offering this: Now I am ready to do refi again - 2.875 @ 15yr with no closing costs to me

Quote from goastros : Noadays, most lenders have no control over where the appraisal will go. I went thru the same frustration last yr. Got a great rate from Amerisave but the appraiser screwed me, he came 45,000 less. Instead then in dec 11 I went with this other lender who was able to use a drive by appraisal.I went to 3.875 @30 for no closing cost then. Now I am ready to do refi again - 2.875 @ 15yr with no closing costs to me.