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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I locked few weeks ago. I told them interest rate went down. They told me that they cannot re lock the interest rate but if I can get a better offer they will try to match it.
Is there any other online site I can use to get rate so that I can request better to match it?
My loan amount ~220k
Sorry to say there is no other site out there that has better rates than Better.com, you are out of luck.
https://slickdeals.net/f/14173061-07-21-2020-best-mortgage-rates-from-big-reputable-lenders-and-sd-reviews-30year-2-75-15year-2-25-etc?v=1
Shahhere
No other costs that I can see and so far 4 others are getting similar A-G but lower credits in J which is around -$4000-$5000. For the best interest of the community I'll clearly post when I get the Locked Disclosures which I did lock over the phone but don't have in email just yet. As it stands the 3 people who have confirmed is that this new lender is the lowest but no one has a locked document on hand which will matter for the masses.
Shahhere
Okay it looks like Better is going to match based on the email I've gotten to the above LE (Freaking crazy at this point). Anyone get the below email but have any issues getting the match?
I don't have anything back after a few hours but will give them until tomorrow to get something back to me but wow don't know what to do until I have documents on hand and hope whatever manager approval means is good for me!
Shahhere
Our team reviewed your competing loan estimate. Everything looked okay for us to increase our lender credits, I'm just waiting on final manager approval. I will let you know when I have manager approval, but keep a look out for your revised loan estimate on your better.com [better.com] account.
Thanks,
Shahhere
I don't have anything back after a few hours but will give them until tomorrow to get something back to me but wow don't know what to do until I have documents on hand and hope whatever manager approval means is good for me!
Shahhere
I don't have anything back after a few hours but will give them until tomorrow to get something back to me but wow don't know what to do until I have documents on hand and hope whatever manager approval means is good for me!
Shahhere
But the Watermark guy refuses to give an official LE estimate without locking the rate. Any thoughts how to proceed further? What are the implications if one locks in a rate? Are you bound to continue?
There doesn't seem to be a cost to lock the rate though. With out the LE can't go to Better as their advertised rates are nowhere near.
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My current lender is offering me a rate of 2.875% for 30 year fixed. Enough lender credit to cover all closing costs.
Better is showing these. Do I need to shop around to get better rates? I see WM discussed a lot here.
Rate/APR
2.750% / 2.866%
Points
+ $5,232
Rate/APR
2.875% / 2.949%
Points
+ $3,132
My current lender is offering me a rate of 2.875% for 30 year fixed. Enough lender credit to cover all closing costs.
Should I be getting a quote from Better in hopes of zero closing costs and receiving $2,500 in statement credit?
Are you looking for motivation or what would you like to hear? lol.
Do whats best for you and if that means spending some time to apply to Better and/or other lenders to get the Best offer out there for yourself whats stopping you? You can do it!
Shahhere
Started with better, the best they could do was 2.75% but that came with $4,500 in points, $5,700 in total A/B/C costs.
Tried to get a quote from owning.com was told they weren't doing refinances less than $350k.
Couldn't get a response from LoanCabin after I submitted the initial application.
Watermark though, offered me 2.5% for a 30 year with 700 in lender credits A/B/C costs are about ~2,500 before the lender credit. I was also considering a 15 year and they sent me 2.125% for a 15 with the same closing and lender credits (though it was less in lender's credits yesterday). Going to go the 30.
Better wouldn't match. I know others have said better will match if you are further in the process, but not worth trying to go further and then hoping they will match later, so we are going to go with Watermark. Not getting the AMEX credit, but better deal overall with the lower rate and lower costs.
Loan amount :298k
Term 15yrs
Rate 2.25%
Lender credit $2960
appraisal - waived
LTV -77%
Lender credit covers most of closing costs, if I'm lucky to find a cheaper title company I might make a few hundred dollars
Do whats best for you and if that means spending some time to apply to Better and/or other lenders to get the Best offer out there for yourself whats stopping you? You can do it!
Shahhere
I signed the loan estimate with my current lender already, but I think that doesn't mean I necessarily need to go with them right?
I signed up for Better and they provided me with these rates:
Rate/APR
2.750% / 2.866%
Points
+ $5,232
Rate/APR
2.875% / 2.949%
Points
+ $3,132
I think my current lender's offer is better at the moment, so next step would be to apply with other lenders right? I saw WM was mentioned many times in this thread.
Sharing my experience with a Better pricematch:
TX property, 70% LTV, 780+ FICO, ~$300k refi on 30 year fixed:
LoanCabin - 2.625% with $600 lender credit (don't know what A+B+C is, have not received LE)
WM - 2.75% with $4k (A+B+C) costs and $3k lender credit with LE
Better - Matched WM with 2.75% with $2.6k (A+B+C) costs and $2300 credits
Experiences
I wish LoanCabin moved faster (application with hard credit pull on 7/13) but other than email quotes, have not been able to get anyone on the phone.
WM has been SPECTACULAR to work with, super fast & responsive. Needed to have hard credit pull to get WM but was great to work with.
Better had a pretty horrific first offer ($7k A+B+C with $0 credits at 2.75%) and really trimmed it down.
ALL that said, shop around because these differences will save you THOUSANDS over the life of the loan; worth the extra effort.
I signed the loan estimate with my current lender already, but I think that doesn't mean I necessarily need to go with them right?
I signed up for Better and they provided me with these rates:
Rate/APR
2.750% / 2.866%
Points
+ $5,232
Rate/APR
2.875% / 2.949%
Points
+ $3,132
I think my current lender's offer is better at the moment, so next step would be to apply with other lenders right? I saw WM was mentioned many times in this thread.
See if you can read up on my thread on my signature.
Shahhere
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What are people keeping of proof of the Amex deal? I have the initial email stating Amex in it and a screen shot of clicking on the deal. I was told over the phone that I would be getting the credit. Was there a verification of the Card number at some point in the process?
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