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
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If it was a change in terms/limited cash out, you can refi immediately but there could be obstacles in better T&Cs allowing them to not price match within 6 months of funding a better loan, and new loan and release of previous loan not having been recorded. Ymmv.
Or do you mean one with a credit that offsets the closing costs ?
Anyone use them lately? Their website is down and the contact I had hasnt returned my call since yesterday but as noted they have been the cheapest I've found in PA.
Shahhere
PS. I called ALTTitle.com and their quoted rate is almost $400 more than my last Refi rates from January which were around $1600 for Radian vs. $2040 for ALTTitle.
Anyone use them lately? Their website is down and the contact I had hasnt returned my call since yesterday but as noted they have been the cheapest I've found in PA.
Shahhere
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I'm a little confused.
Anyone use them lately? Their website is down and the contact I had hasnt returned my call since yesterday but as noted they have been the cheapest I've found in PA.
Shahhere
PS. I called ALTTitle.com and their quoted rate is almost $400 more than my last Refi rates from January which were around $1600 for Radian vs. $2040 for ALTTitle.
Typically on a 15 year load the Loan-Value ratio under 90% = no PMI. Its on a 30 year loan you need under 80%.
Soft hits on credit are pretty meaningless. I wouldnt worry about that. You could call your loan guy at better and explain the situation.
I would call Lenderfi, and tell them you are planning to lock in the best rate today. They get paid based on how fast they can close a loan after the application. If they close in less than 30 days from app, the person gets a higher commission. So tell them you are ready to lock a rate today if they can get you a competitive LE. It should light a fire under them. And tell them if they cant, you are happy to move onto another lender.
PMI is all about risk. With a 15 year loan, you are paying off more principal up front, so you are less of a risk of them having to take an under-water mortgage a few years in, and thus PMI isn't as big of an issue. Also if you are doing a 15 year loan, they typically can look at the customer as in better financial shape, as they can afford a higher payment, while still being under the 38% debt-income ratio.
On a 30 year loan, you pay off almost zero principle for first few years, so you are at a much higher risk of defaulting on an under-water(to the lender they are underwater even if your house is worth more than your loan, due to all the costs they have in evicting you, and then reselling the property).
Just look around, most lenders will wave PMI on 15 year loans with LTV at 90%.
Or do you mean one with a credit that offsets the closing costs ?
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I would call Lenderfi, and tell them you are planning to lock in the best rate today. They get paid based on how fast they can close a loan after the application. If they close in less than 30 days from app, the person gets a higher commission. So tell them you are ready to lock a rate today if they can get you a competitive LE. It should light a fire under them. And tell them if they cant, you are happy to move onto another lender.
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