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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Meanwhile I am also planning to offer on a different house which we liked and got preapproval for it.
Do you know if I need to wait for refinancing to be done and then move with buying a new house or doing both in parallel is okay?
We don't want to lose the house we saw so want to move forward with our offer.
Thanks.
Meanwhile I am also planning to offer on a different house which we liked and got preapproval for it.
Do you know if I need to wait for refinancing to be done and then move with buying a new house or doing both in parallel is okay?
We don't want to lose the house we saw so want to move forward with our offer.
Thanks.
edit:
per this link [mortgage.info], it's entirely up to the contract you sign when you refi
Some loan programs require you to sign a disclosure stating that you will occupy the property. If this is the case, you could be in legal trouble if you turn around and sell the home too soon. Pay close attention to what you agree to when signing the disclosures. If you state you will live in the home for the next 12 months, you have to do as you said. Some lenders can look at it as mortgage fraud if you go against what you stated on your legal documents.
Whether or not it makes sense to sell your home right after refinancing is a personal decision. You have to weigh all of the fees involved. First, of course, you should check for a prepayment penalty. This could be the most costly part of selling too soon. If it will cost you several thousand dollars to sell early, it may eat away at your profits. You should also consider the closing costs you paid, though. You cannot recover these costs by selling your home. Understanding the amount of profit you have in the home will help you make the right decision.
edit:
per this link [mortgage.info], it's entirely up to the contract you sign when you refi
CycloneFW posted a better pricing Lender "Watermark Home Loans [watermarkhomeloans.com]".
I called and they seem to have the best pricing for my scenario quoted (no LE yet as I haven't applied).
2.625% zero fees (+Title, taxes, escrows).
2.75% with zero costs and a credit upto $3500 (wont give cashback).
Shahhere
Is it Zero Fees and credit upto $3500
or Zero closing Cost (A+B+C offset to 0 by lender's credit) and an extra 3500?
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Is it Zero Fees and credit upto $3500
or Zero closing Cost (A+B+C offset to 0 by lender's credit) and an extra 3500?
Yes, no additional fees is whats listed in the email and how the Loan Officer explained.....I'll fire off an Application to see this on a Lender Estimate for the official numbers but looks to be the best so far.
Shahhere
Shahhere
I just signed today, so I have the documents handy, here's what I have found so far:
you agree that "the property will be occupied". it doesnt' specify any timeframe, but it must be true at least at the time of signing/closing. You have not yet closed, and it appears you are not intending in occupying...so that could definitely spell trouble.
IANAL by the way,
if you close and then you start looking for a new house, then I don't see much of a problem ,but since you are already looking for one...you could indeed get in trouble, in my interpretation (again, not a lawyer)
"IX. ACKNOWLEDGEMENT AND AGREEMENT
Each of the undersigned specifically represents to Lender and to Lender's actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees
and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation
of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation
that I have made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001,
et seq.; (2) the loan requested pursuant to this application (the "Loan") will be secured by a mortgage or deed of trust on the property described in this application; (3) the property will not be
used for any illegal or prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining a residential mortgage loan; (5) the property will be occupied
as indicated in this application; (6) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the Loan is approved;
(7) the Lender and its agents, brokers, insurers, servicers, successors, and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or
supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (8) in the event that my payments on
the Loan become delinquent, the Lender, its servicers, successors or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and
account information to one or more consumer reporting agencies; (9) ownership of the Loan and/or administration of the Loan account may be transferred with such notice as may be required
by law; (10) neither Lender nor its agents, brokers, insurers, servicers, successors or assigns has made any representation or warranty, express or implied, to me regarding the property or the
condition or value of the property; and (11) my transmission of this application as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal
and/or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as
if a paper version of this application were delivered containing my original written signature.
Acknowledgement. Each of the undersigned hereby acknowledges that any owner of the Loan, its servicers, successors and assigns, may verify or reverify any information contained in this
application or obtain any information or data relating to the Loan, for any legitimate business purpose through any source, including a source named in this application or a consumer reporting agency"
Btw my better dedicated concierge hardly responds or is reachable, is it okay to call and speak to another loan agent.
Any lenders willing to provide an Loan Estimate without providing your social security number?
Both Loan Cabina and Watermark are asking for SS#
I already locked the rate at Better but it doesn't look as great as some stated here.
I personally want to lock as back in the haydays of refinancing the pricing was all over the place and you'd be days out and then the rate would be all different and the excuse was "you did not lock the rate".
I think the rates are so low that its in the best interest to lock.
They did say that they'll float down the rate if it gets better but no additional credit will be given (ehh) but still competitive enough.
Shahhere
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Any lenders willing to provide an Loan Estimate without providing your social security number?
Both Loan Cabina and Watermark are asking for SS#
I already locked the rate at Better but it doesn't look as great as some stated here.
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