Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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Just make sure this is for a cashout refi (as it is not specified within that screenshot).
The rate of 3.625% reflects you are paying 1.00 point to buy it down; but then there is a lender credit...
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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11 Replies
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I think that's a decent rate. You can take the difference in your new mortgage payment and old one, then spread that out monthly until it totals your closing costs on the refi. If that takes a long...
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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11 Replies
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Thanks. In FL, the mortgage and intangible tax costs are $60 per $1000 in refinance value. So for $200k it's $1200.
For APR, I'm getting 3.722% APR excluding Florida taxes: See...
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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11 Replies
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Ahh so it seems FL is not a great place to refi in. Should have specified my location. Though I did say it was a little over a year ago.
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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11 Replies
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In Florida you have a Mortgage Tax and an Intangible Tax that you cannot avoid and will add to your costs.
Plus, as previously mentioned, there are pricing adjustments for 80% LTV and Cashout...
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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Yeah sorry. Cap center advertises where i live so that's how i heard of them.
As for shopping around there is lendingtree and bankrate. Also google the loan you want and it will bring up some...
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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11 Replies
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Where do you suggest I shop around? Is there a particular site that aggregates mortgage rates?
EDIT: I searched on CapCenter - they do not service Florida it seems?
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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11 Replies
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Where did you search? Points/Fees don't mean much in the long run. It's the APR that matters. I see APR around 3.82% when I pay $5k in fees: https://i.imgur.com/kepLLU9.png
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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11 Replies
1,842 Views
Even with credit 740+ (the top tier) there are pricing adjustments for 80% LTV as well as cash-out (v. rate/term) refinance; that is why you are seeing large fees associated with lower rates.
A true...
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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11 Replies
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cap center did cash out refi for me. only a $900 fee which was apparently a fed thing, not even for them. got in at 3.625, but that was a month before the election last year. they had no problem...
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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11 Replies
1,842 Views
Could you even get under 4% (realistically) with such an arrangement? Poking around online I only find under 4% for a 30 with like $7k in fees :lol: APR on that is *just* under 4%.
Best way to do a 30-year cash out refi?
Thread created 12-19-2017 by simpleman1
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11 Replies
1,842 Views
I bought my home for $200k cash in 2014 and is worth $250k today.
I have excellent credit (800 credit score) and $1M in other assets.
I'd like to pull out $200k (80%) if I can lock in a nice...
