PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Yea, I started my refi as I will save and when the PMI drops off, will save another large chunk of money per month. My lender did say there is a chance they extend the cut-off date, but who knows...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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If you only plan on living in the house for 10 years or less then go with the 5/5ARM. With that mortgage, you are basically mortgaging your house at a max rates of 3.75% for 10 years (this is...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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NY requires an attorney to close the loan, a lot of other states only require a settlement agent (notary). You can imagine the attorney is a little more expensive :) with that being said still...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Has anyone done HARP-II refinance recently with LTV > 95%? what are the rates you are seeing?
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Well PenFed replied to my email about the carbon monoxide detector
"We will need you to install one and the appraiser will need to make another trip to your home to confirm installation"
What a...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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I have a 2.625 rate with Provident. Do you think Penfed will be willing to push the rate down from 2.75 to 2.625 but pay the same thing when it comes to closing costs?
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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So has anyone in NY state re-financed with the 5/5 ARM under this deal yet? I am trying to see what the title insurance costs will actually be (That is the only cost Penfed won't pay in NY state)....
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Perhaps someone here can give me some advice- I currently owe $45k at 5.00% with 6 years 8 months remaining on a 15-year fixed rate mortgage through Bank of America. The house should appraise at...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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What does that mean? How much are closing costs? Are you saying they are giving you $3,700 towards closing costs?
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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When there is a net negative on the closing costs, what happens to that money? Do they cut you a check and you go out to dinner with it?
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Can anyone speak on MIP? I hold an FHA loan and am required to pay these mortgage insurance premiums because I don't have 20% in equity on my house or whatever the requirment is. I went to look into...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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The FHA jacked up the PMI rates from .60 to 1.20 or 1.25 percent of the loan balance per year depending on your LTV. If you bought before June 2009, you can refi and keep your existing rate. I bought...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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The issue I have is my home dropped in value way to much to do a conventional refi. FHA refi, value of the home doesn't matter.
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Correct.
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Yes. My mortgage guy told me that our rate could get lower if our house appraises higher so same thing as putting more down ... We have 100k in equity on the low side, not sure how high the appraisal...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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the 5 year mortgage would be so sweet for me, currently owe only 42k on my house, but it's a 30 year mortgage (27 years left), my monthly payment with insurance/tax is $327 a month, with the 2.75%...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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what about:
Is it worth refinancing with a 330K loan @ 4.5% with a new 30 year @ 3.375%?
:wave:
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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:worship:
Outstanding principal balance ~$310K and the house value ~$370K Thanks!
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Just bought a new home two months ago @ 4%, and I definitely have 20% equity. We'll be living here for much longer than 5 years (hopefully), so the 5/5 is out of the question (unless one of you out...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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When I try to join (through Voices) I get an error message that they are unable to complete my request--anyone else have this issue?
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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If you are trying to decide if it is "worth it" or not to refi your existing loan, there are a couple of things you need to look at
How long do you plan on living in this house? (everything...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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just saw this post. Can I see this FAQ without being a member? I'd like to get an idea of closing costs.
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Would be interested in this too. What range was the out of pocket payments (fees, cc, etc).
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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A bit off topic, but has anyone done a heloc with Penfed? They seem to have a minimum of $10k, so I can't just open one with $0 used and leave it for emergencies. Amy I reading that correctly?
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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I just talked to an officer, you defenitely need to have at least 20% equity on the home (they will finance up to 80% of the home value). For a 280K loan, 15yr fixed will cost about $9.1K in closing...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Gonna have to look into this. Are the rates gonna drop lower in the next few months!?
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Anyone know of any places to get a mortgage with 10-15% down rather than 20%?
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Thanks for the info NotReal. I probably can't do anything until I reach 20% equity.
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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I realize some would deem this sensitive information and you may not be willing to divulge..but in case you are willing, would you mind pm'ing me the closing costs you paid as well as the amount you...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Thanks .. just refinanced my car...saved $40/month
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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I think your bi-weekly payments has a lot to do with it. On top of your extra money you are paying with each payment, when you make bi-weekly payments (every two weeks) your actually also making an...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Looks good. Most of the required cash is escrow & taxes (outside of Penfed's control). My last 2 30yr refis with Penfed each estimated title insurance of approx $1300, but I was only charged $800...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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delete
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Hmm I'm in a similar situation, I have a 3.75%. Are you under the 80% loan to value ratio yet?
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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I applied and will probably go through with it. You can make yourself sick watching mortgage rates. To me, there really is no rhyme or reason. You think the rates should go down because of...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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704 Replies
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Tried for the 5/5 ARM. A bit disappointing as you are responsible for up front fees/appraisal even if you don't get approved as was my case. My house dropped 35% in value since 2009 so way to upside...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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Negative. When you put the 20% down on the original purchase, you don't actually "lose" that money. It just becomes equity in your home rather than cash in your pocket.
When you refinance you...
PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
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Thread created 09-06-2012 by Rokket
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704 Replies
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Try Trident Mortgage company (Part of Prudential Fox and Roach)
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