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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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.
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.
My suggestion, go to https://www.loancabin.c
As far as lost interest, don't worry about that. You are thinking about that the wrong way. If you are worried about starting all over with a 30 year loan, you can do 20 or 15 year.
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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?
Anyway, mine is an investment property so it is a little different. Watermark gave the best so far (3.375%, no cost, no escrow). They also offer 3% with $2500 cost, but I figure if rate keeps going down, I can refinance again in 6 months.
A+B+C+E = $4000 (GA has big 'E')
1. 2.75% with 3000 credit
2. 2.625 with 1500 credit
On the face of it I am leaning towards the lower rate but I don't think Better is matching that rate. So may be get Better to match 2.75% and try to get Amex credit is the better option? Thoughts?
My suggestion, go to https://www.loancabin.c
As far as lost interest, don't worry about that. You are thinking about that the wrong way. If you are worried about starting all over with a 30 year loan, you can do 20 or 15 year.
Sign up for a Slickdeals account to remove this ad.
Better came up with a high closing cost and no credits to offset
LenderFi came to zero closing after credit.
Sent the LE from Lenderfi to Better and they said they can match but need a new LE to be within the day range. I sent the original LE to be within the window but they took a day to look at it.
Now Lenderfi does not want to give me a new LE and saying they will cancel my application if I don't commit to close with them.
Reached out to Watermark with the Lenderfi LE and they mentioned they can match. In email they mentioned they will give credits so closing costs will be zero. They have a 1500 origination fee which they can't take out so they give credit to offset it. They are taking time to generate a LE so I can take a look to compare.
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