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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With some work -- rates on a no-cost refi appear to have dropped enough that it might be worth refi'ing again lower.
Will Better still be open to doing a refi on that property with them again now? If I refi with better.com again on the same property, am I eligible to receive the $2500 credit a second time on the same property?
He keeps saying that J(Credit) can only be used for closing costs but that's not how it works. In the past If ABC=$3000 the remainder $500 would go towards escrows or principle reduction. Credit on J doesnt come with conditions like that so I am not sure how to proceed......
Today he did reply back they locked me at 2.75% with $3500 towards closing costs. If i have a LE showing $0 Origination fees and J=-$3500 I am going to take it. Better hasn't responded yet but this works out to be better than Amex deal with all the money upfront.
People who have LEs from Watermark Please let me know your thought on this Credit dilemma and how they have done this in the past if possible.
Shahhere
I think watermark has a origination fee of 1560. They offer credits to offset it. I dont know if they offer loans with 0 origination fee.
Better:
30 year
2.75% (vs. 2.625% w/ Watermark)
$0 origination (vs. $900ish with Watermark after)
$1,827 credit
Appraisal Waiver
And I get the $2500 from AMEX
I'll end up ahead $850 or so after all is said and done and get 1 1/4 point cut from my current rate. Plus if we get slammed with some crazy second wave or the Fed goes even crazier with monetary policy, we didn't pay any costs OOP or throw it into our loan so we could always refi again.
Using a title company my firm uses (if anybody is looking for a good title company that does title insurance in NY, PA, NJ, DE, WV, MD, SC, or DC feel free to DM me).
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Thats how only you can get a "Better" deal
Lenders Title Insurance
Title - Settlement Fee
Is the 'Title - Settlement Fee' the fee associated with escrow for the whole loan's refinance (ie. the whole transaction)?
The default quote they are giving me is $550 + $550 (in California) - which seems high and I wanted to shop around, but none of the online title rate quotes give me specific info about the 'Title - Settlement Fee' part.
- 7/10/2020 - Received email with after 3 phone call conversations that "30 year at 2.75% with No closing costs, I can credit up to $3,500 towards the closing. The principal and interest payment will be $xxx a month."
- I applied and confirmed that the above is a good offer for me and to send a LE and the LO was emailing even on Saturday so things looks good.
- 7/14/2020 - After numerous calls and emails and nothing I finally heard back in the evening.
- 7/14/2020 - Offer - $1499 in Org Costs and $3,000 in credit. Complained and emailed a few more times as its not the same and got a response that the email1 was for Friday but rates changed and will see what more they can do.
- 7/15/2020 - New Locked offer $1499 Org Costs and -$3500 in Credit with new LE2. Its essentially a -$2000 credit. Its better but not what was quoted.....
No response from Better from the First emails from Better on 7/14 so not sure what and who to reach out as I have emailed this to my Teams Contact. At $3500 credit I'd take Watermark deal and be done with it as they dont even need tons of Docs....That to me is no Org Feed and $3500 in credits.
Shahhere
There rates are quite high. what are other fees ? How do I match if I got the rates verbally
Can someone walk me over the steps
Thanks
Got multiple estimates for 30 years fixed from Sprout Mortgage, WaterMark, LoanDepot, LenderFi and some others. No loanCabin in my state. WaterMark was the one that came out the best with their 2.625 and around 700 lender credits for ~285k loan.
Pretty smooth experience for me matching the estimates all three times. Sent the LE late last night, and received the counter offer by 10 AM! There was a big difference between 2.625 and 2.750 after Better matched. Couldn't resist and locked the 2.750. Almost 3k in credits before the prepaids. Now just need to make sure my prepaids are at least 1k to keep cash at closing below 2k
Thats how only you can get a "Better" deal
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Here is the breakdown of fees in Section C from Fidelity from my CD. This is on a $485K loan in California.
Endorsements to Fidelity National Title Company $25.00
Escrow Fee to Fidelity National Title Company $475.00
Lender's Title Insurance to Fidelity National Title Company $505.00
Mobile Signing Fee to Fidelity National Title Company $200.00
Recording Service Fee to SimpliFile $14.00
Special Courier Fee to Fidelity National Title Company $36.00
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