Please add sections to this wiki with useful information about the process, so that people don't have to ask the same questions over and over, or scan the whole thread for answers!
Notary and closing
Here is what you can expect or ask for from my experience:
1. New pen for signing wiped thoroughly
2. Pen stays with you after signing
3. Only material they will touch would be your ID
4. ID would be wiped and returned back
5. Can expect gloves to be worn
6. Signing can happen in your front yard or in your garage
7. If you have a Costco table then you can sit on either sides to maintain distancing
8. Masks might be recommended given new guidelines
9. Plus discuss with the notary!!
expired Posted by Greenworld123 • Dec 8, 2019
Dec 8, 2019 2:27 PM
Item 1 of 1
expired Posted by Greenworld123 • Dec 8, 2019
Dec 8, 2019 2:27 PM
Amex offer: $2,500 statement credit for home refinance Better.com
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Also have HELOC taken out the same year.
Refinancing the mortgage to 15 year with Wells and was able to lock for 2.75% and 3/8th points (120 day lock) APR 2.914. I did shopping around and no one was really able to do better on rate or closing fees. I figured the CEMA would also be easier if doing it with the same bank
Since property is in NY, we will be doing a CEMA.
Closing costs are high though - but at least it was all rolled in
$1500 for Title and attorney (after shopping around for it)
$1000 for "loan processing" - this is bogus but they would not waive it
$1339 for the 3/8 points
$2800 for the recording fees
$625 appraisal and credit fee
Upset that i was not able to include the HELOC in this loan, since Wells stopped doing cash out refi - but i was really happy with the refi rate and didnt want to take any chances of losing out on this for the primary mortgage.
If anyone has any thoughts or suggestions on the above, please do let me know!
Should I see if Better.com would match or beat?
https://www.creditkarma
https://www.creditkarma
Why wouldnt if be worth it if I am shaving off 6 years of the mortgage?
Why wouldnt if be worth it if I am shaving off 6 years of the mortgage?
It might be worth it
You'll pay $300 more a month, but you'll save $82,782 in total interest. It's worth it if you can afford the higher monthly payme
Thats from the calculator
Also have HELOC taken out the same year.
Refinancing the mortgage to 15 year with Wells and was able to lock for 2.75% and 3/8th points (120 day lock) APR 2.914. I did shopping around and no one was really able to do better on rate or closing fees. I figured the CEMA would also be easier if doing it with the same bank
Since property is in NY, we will be doing a CEMA.
Closing costs are high though - but at least it was all rolled in
$1500 for Title and attorney (after shopping around for it)
$1000 for "loan processing" - this is bogus but they would not waive it
$1339 for the 3/8 points
$2800 for the recording fees
$625 appraisal and credit fee
Upset that i was not able to include the HELOC in this loan, since Wells stopped doing cash out refi - but i was really happy with the refi rate and didnt want to take any chances of losing out on this for the primary mortgage.
If anyone has any thoughts or suggestions on the above, please do let me know!
Should I see if Better.com would match or beat?
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You'll pay $300 more a month, but you'll save $82,782 in total interest. It's worth it if you can afford the higher monthly payme
Thats from the calculator
Create your own amortization calculator to see the change month to month. You need to KNOW when you're going to recover your closing costs ($8k) moving to this loan. Otherwise it's not worth it.
What if I told you it's gonna take you 6 years to recover that $8k in interest versus principal? Is it worth it? That's the question you need to ask yourself.
I'm 3% w/o points on a 15 year and no escrow at better (2.875 if had escrow). Thankfully my point cost is cheap, at
2.875% with 0.48% point
2.75% with 0.85% point
2.625% with 1.23% point
What sucks is that I sent Better a competing offer with 2.875% with 0 points and $1,295 + recording fees + prepaid interest in closing costs and they aren't budging one iota.
"Loan costs on the estimate you sent is better by $756 but we're offering the $2500 in AMEX statement credit. So the net savings is better by $1744.
We can not discount further as you have the lowest pricing available for your loan amount."
I'm 3% w/o points on a 15 year and no escrow at better (2.875 if had escrow). Thankfully my point cost is cheap, at
2.875% with 0.48% point
2.75% with 0.85% point
2.625% with 1.23% point
What sucks is that I sent Better a competing offer with 2.875% with 0 points and $1,295 + recording fees + prepaid interest in closing costs and they aren't budging one iota.
"Loan costs on the estimate you sent is better by $756 but we're offering the $2500 in AMEX statement credit. So the net savings is better by $1744.
We can not discount further as you have the lowest pricing available for your loan amount."
Also have HELOC taken out the same year.
Refinancing the mortgage to 15 year with Wells and was able to lock for 2.75% and 3/8th points (120 day lock) APR 2.914. I did shopping around and no one was really able to do better on rate or closing fees. I figured the CEMA would also be easier if doing it with the same bank
Since property is in NY, we will be doing a CEMA.
Closing costs are high though - but at least it was all rolled in
$1500 for Title and attorney (after shopping around for it)
$1000 for "loan processing" - this is bogus but they would not waive it
$1339 for the 3/8 points
$2800 for the recording fees
$625 appraisal and credit fee
Upset that i was not able to include the HELOC in this loan, since Wells stopped doing cash out refi - but i was really happy with the refi rate and didnt want to take any chances of losing out on this for the primary mortgage.
If anyone has any thoughts or suggestions on the above, please do let me know!
Should I see if Better.com would match or beat?
I also need to refi wiht a heloc
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