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PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
Today I received an email from PenFed (Pentagon Federal Credit Union) touting new lower mortgage rates: "Limited-Time Offer -- PenFed Lowers Mortgage Rates AGAIN!"
The 5/5 adjustable rate mortgage is now just 2.75%, with no origination fees and PenFed paying closing costs up to $10K. (There's also the 5 year HEL with a 1.99% rate; the HEL rate is not new.)
https://www.penfed.org/55-Adjusta...-Mortgage/
https://www.penfed.org/Home-Equit...-Overview/
The 30-year fixed rate mortgage is now just 3.375%, with no origination fees (per fine print on the application page).
https://www.penfed.org/30-Year-Fixed-Mortgage/
PenFed used to charge a 1% origination fee on all fixed rate mortgages, but right now the 30-year fixed rate mortgage seems to be exempt!
There are many ways to join PenFed; for example, you can make a donation to the National Military Family Association. The PenFed website has further details: https://www.penfed.org/
The 5/5 adjustable rate mortgage is now just 2.75%, with no origination fees and PenFed paying closing costs up to $10K. (There's also the 5 year HEL with a 1.99% rate; the HEL rate is not new.)
https://www.penfed.org/55-Adjusta...-Mortgage/
https://www.penfed.org/Home-Equit...-Overview/
The 30-year fixed rate mortgage is now just 3.375%, with no origination fees (per fine print on the application page).
https://www.penfed.org/30-Year-Fixed-Mortgage/
PenFed used to charge a 1% origination fee on all fixed rate mortgages, but right now the 30-year fixed rate mortgage seems to be exempt!
There are many ways to join PenFed; for example, you can make a donation to the National Military Family Association. The PenFed website has further details: https://www.penfed.org/
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Community Wiki
Last Edited by rdmustang1
May 1, 2013
at
08:12 AM
EVEN BETTER! PenFed 5/5 down to 2.5% with 0 points
...
A good site to follow daily rate movements and lender intraday price movements: http://www.mortgagenew
...
PenFed Calculator
https://penfed.mortgage
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...
A good site to follow daily rate movements and lender intraday price movements: http://www.mortgagenew
...
PenFed Calculator
https://penfed.mortgage
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.
Once a Thread Wiki is added to a thread, "Create Wiki" button will disappear. If you would like to learn more about Thread Wiki feature, click here.
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Thanks, I didn't know that. I will request Thomas Racioppe.
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The payoff amount listed for my current mortgage is $136,491.19, the new loan amount is $139,500 and they want $1462.03 in cash/certified check at closing Friday. They are rolling my current escrow of $1600 into new loan.
This is for a 20 year loan at 3.875%
Fees I see are:
Origination: $650
Points: $1220.63
Credit Report: $15.05
Tax service: $14
Flood Certification: $5
Daily Interest (7/1013 to 8/1/13): $325.82
Refer to Addendum for additional fees (but I see no addendum): $714.93
Reserves deposited with lender (homeowners insurance 12 months @ $81.75 = $981, Property Taxes 5 months at $233.34 = $1166.70, Aggregate Adjustment = $51.93)
Settlement or closing fee: $550
Lenders title insurance: $320
Government Recording charges: $175
Anyone think this is crap or is it ok? Keep in mind my house is not worth much more than the $136K or so I owe on it.
Then again I used a full price agent and she literally came out to my house one time, took some pictures, and put it on the MLS so I would say a lot of it actually depends on what agent you get.
As a buyer I would totally use a service like that though.
The payoff amount listed for my current mortgage is $136,491.19, the new loan amount is $139,500 and they want $1462.03 in cash/certified check at closing Friday. They are rolling my current escrow of $1600 into new loan.
This is for a 20 year loan at 3.875%
Fees I see are:
Origination: $650
Points: $1220.63
Credit Report: $15.05
Tax service: $14
Flood Certification: $5
Daily Interest (7/1013 to 8/1/13): $325.82
Refer to Addendum for additional fees (but I see no addendum): $714.93
Reserves deposited with lender (homeowners insurance 12 months @ $81.75 = $981, Property Taxes 5 months at $233.34 = $1166.70, Aggregate Adjustment = $51.93)
Settlement or closing fee: $550
Lenders title insurance: $320
Government Recording charges: $175
Anyone think this is crap or is it ok? Keep in mind my house is not worth much more than the $136K or so I owe on it.
The payoff amount listed for my current mortgage is $136,491.19, the new loan amount is $139,500 and they want $1462.03 in cash/certified check at closing Friday. They are rolling my current escrow of $1600 into new loan.
This is for a 20 year loan at 3.875%
Fees I see are:
Origination: $650
Points: $1220.63
Credit Report: $15.05
Tax service: $14
Flood Certification: $5
Daily Interest (7/1013 to 8/1/13): $325.82
Refer to Addendum for additional fees (but I see no addendum): $714.93
Reserves deposited with lender (homeowners insurance 12 months @ $81.75 = $981, Property Taxes 5 months at $233.34 = $1166.70, Aggregate Adjustment = $51.93)
Settlement or closing fee: $550
Lenders title insurance: $320
Government Recording charges: $175
Anyone think this is crap or is it ok? Keep in mind my house is not worth much more than the $136K or so I owe on it.
Thank you Jaynos and OhioState.
Sign up for a Slickdeals account to remove this ad.
The payoff amount listed for my current mortgage is $136,491.19, the new loan amount is $139,500 and they want $1462.03 in cash/certified check at closing Friday. They are rolling my current escrow of $1600 into new loan.
This is for a 20 year loan at 3.875%
Fees I see are:
Origination: $650
Points: $1220.63
Credit Report: $15.05
Tax service: $14
Flood Certification: $5
Daily Interest (7/1013 to 8/1/13): $325.82
Refer to Addendum for additional fees (but I see no addendum): $714.93
Reserves deposited with lender (homeowners insurance 12 months @ $81.75 = $981, Property Taxes 5 months at $233.34 = $1166.70, Aggregate Adjustment = $51.93)
Settlement or closing fee: $550
Lenders title insurance: $320
Government Recording charges: $175
Anyone think this is crap or is it ok? Keep in mind my house is not worth much more than the $136K or so I owe on it.