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!!
expiredGreenworld123 posted Dec 08, 2019 02:27 PM
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expiredGreenworld123 posted Dec 08, 2019 02:27 PM
Amex offer: $2,500 statement credit for home refinance Better.com
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-15yr fixed @ 2.375%
-30yr fixed @ 2.75%
$500k loan. No points.
Not sure if its best deal though !!
It says "What will happen to your mortgage with [Lender]" with my mortgage balance for the property I'm trying to refi
The options are a bit weird. They are:
- This is the property I'm refinancing and will be paid off
- This is the property I'm refinancing and will NOT be paid off (with the disclaimer: This mortgage belongs to the property you are refinancing and will not be paid off at closing. Choose this option if it is a second mortgage you want to keep. The lender will consider this mortgage payment when calculating your debt-to-income ratio. This will increase your DTI and decrease your chances of getting approved.)
Obviously I'm not going to be paying off my mortgage, so I would choose the 2nd one, but I don't want to keep a 2nd mortgage per the note. Not sure which one to pick.
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It says "What will happen to your mortgage with [Lender]" with my mortgage balance for the property I'm trying to refi
The options are a bit weird. They are:
- This is the property I'm refinancing and will be paid off
- This is the property I'm refinancing and will NOT be paid off (with the disclaimer: This mortgage belongs to the property you are refinancing and will not be paid off at closing. Choose this option if it is a second mortgage you want to keep. The lender will consider this mortgage payment when calculating your debt-to-income ratio. This will increase your DTI and decrease your chances of getting approved.)
Obviously I'm not going to be paying off my mortgage, so I would choose the 2nd one, but I don't want to keep a 2nd mortgage per the note. Not sure which one to pick.
Are you paying off or keeping your current mortgage? Yes = first option , No = second option.
If you don't pay off your prior mortgage with the new one, the old one is your first mortgage and the new one is the second, unless the first agrees to a subordination.
You can't have it where you don't pay off the existing mortgage and you don't take a second mortgage. A light switch is either on or off.
Are you paying off or keeping your current mortgage? Yes = first option , No = second option.
If you don't pay off your prior mortgage with the new one, the old one is your first mortgage and the new one is the second, unless the first agrees to a subordination.
You can't have it where you don't pay off the existing mortgage and you don't take a second mortgage. A light switch is either on or off.
Also, chatted with the LenderFi person. Wow, of course I got connected with an aggro jerk. I asked for the loan estimate to discuss it with my wife and he kept saying he's too busy and doesn't want to waste his time, and I should just write down the details he'd give me instead of needing an estimate.
It is the same thing. You go through Amex link, it takes your to your account and you fill a new application. The same concierge in my case.
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Yes, I called them and specifically asked that and they said yes.
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