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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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
My principle is about $260,000, fixed rate is 4.25% and I'm 3 years into the 30 year loan. The house is currently valued at $440,000.
A refinance person I used in my house purchase now contacted me with 3.5% rate no closing cost, no points (so I guess the refinance cost me nothing if I proceed?) with the new payment would be $1167 ( a saving of $188/month compared to the current payment of $1,356). Is that a good deal (my credit score is just above 760).
Also if I ended up refinancing the house, isn't all the interest that my current mortgage bank has been aggressively collect since the beginning of the loan now lost? I guess this is the thing a refinance person would not like to tell me about it, all he said is about how much I save per month.
Thanks a lot.
Ordered : 8th July
Received: 14th July
Cleared: 15th July.
What is next?
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Better
WM
American Federal Mortgage
Sebonic
Rate.com
Better and Sebonic are equal as of now. Better promised to match Sebonic but then backtracked (had they matched, additional $2500 would have been no brainer)
Not happy with WM at all. Kept delaying and then gave a horrible rate as compared to what was discussed on Friday via email
Please note that I got a hard check done on my credit and filled out the application for all of the above in order to get an actual Loan Estimate.
My principle is about $260,000, fixed rate is 4.25% and I'm 3 years into the 30 year loan. The house is currently valued at $440,000.
A refinance person I used in my house purchase now contacted me with 3.5% rate no closing cost, no points (so I guess the refinance cost me nothing if I proceed?) with the new payment would be $1167 ( a saving of $188/month compared to the current payment of $1,356). Is that a good deal (my credit score is just above 760).
Also if I ended up refinancing the house, isn't all the interest that my current mortgage bank has been aggressively collect since the beginning of the loan now lost? I guess this is the thing a refinance person would not like to tell me about it, all he said is about how much I save per month.
Thanks a lot.
So, other than Better, WM and Loan Cabin, who else is quoting decent rates?
Loan Depot: 2.75% with 2k in credits
Watermark: Cant do my loan due to being a high balance (its conventional but borderline jumbo for my area)
M&T bank: 2.875% with 5700 in credits
Mortgage Right: 2.875%
Better.com: still waiting to get someone to call me back
Still waiting for an answer...how/when did others confirm they had the $2500 offer? After locking I can try and confirm, right?
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Say, closing costs are $2000, but lender credit is $4000 and no escrow account.
Do you get $2000 cash back? What would happen?
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