YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Your rate is good but not unheard of especially if you have that much in closing costs. I did a refi on mine and got 2.625 with lender credits paying all costs (No add to my balance, and no money...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
who's your lender?..... that's unheard of
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
No, what they were doing was a loan modification that was hidden in the fine print. Loan modification will adversely impact credit.
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Thanks. I know some lenders do this. I have a loan with Third federal and do this " rate relock" with them all the time. I had 5 ARM with them and I have done rate relock many times so my 5 yrs keeps...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
but now you're locked addtional 3 years with 2.74% which in essence you are paying new interest charges on :lmao: they won.
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Such an unwarranted reply. Banks do this to keep the loan locked in so you don't refi elsewhere...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
It depends on your lender in terms of what they’ll require, IF they even do it.
But yes, if they do, generally all that changes is the rate…the other general terms of the loan don’t adjust most of...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
OK. Recast with no APR change and No additional money to be paid for principal
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
I asked them a couple of times, dummy.
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
I had a similar experience with Chase many years ago on an equity line of credit. I had opened the line a few years before and the spread to prime had probably gone down for most banks. Chase sent...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
30 years term. You just need 1 extra payment every year, you will finish your loan by 23 years. Throw extra cash to your principal, bank doesn't like it. That save you more than refi. I did 2 or 3...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
wow great deal!!!
how much total out of pocket for closing costs?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
No points. I actually got $2700 in credits too for 2.625
Not sure what is non-refi adjustment
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Most mortgage lenders do this, especially for people who've paid a fair amount on their mortgage. This is so you won't switch to a different lender/bank. You're not saving on appraisal fees, because...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Recast but allows APR change which doesn't happen with recast
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
I had a similar offer from my current lender offering a lower interest rate when I requested a pay off quote. They said all I have to do is sign a document that they will overnight and from the next...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
thanks for the reply!
So I have chase, can you recommend me what I should ask when I call the customer service? Should I say i am requesting 'pay-out' amount so they get the signal or be straight...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
so something else to consider, but Chase sent me a overnight fedex envelope with an offer late December 2020. It basically said they would refi my current Chase mortgage at 3.75% to the new 30 year...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Unheard of? last year VA refi rates (as one example) bottomed at 1.75 (no pts) on 30yr jumbo for well qualified. Low 2s for many months if not year. Unfortunately my note hadn't seasoned on that dip...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Negatory on my end. I also got a refi deal (Currently at 4.75% with the deal offering 3.275%) in the mail and just got a call from Chase asking if I had received it. I told them I'm not interested in...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Quicken loans giving 2.625% on new mortgage and 2.375 for refinance without any points
Then how chase is better ?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
How do you request this change of interest rate without refinance rewriting ?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
You asked one mortgage lender and they told you "no", so that must mean nobody else does it? So they were okay with you switching to a different mortgage company?
If it's a major lender, they're...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
I don't have chase but curious if I could attempt this with my lender (BoA), how would I approach it? Ask for loan modification direct or what's the secret codeword that I can start the process?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
This isn't recast at all.
A mortgage recast or loan recast is when a borrower pays a large sum toward their mortgage's principal, resulting in the lender recalculating the loan based on the new...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
So doing a modification of the loan instead a full refinance does that mean you don't need to go thorough the full documents and provide income statements, bank statements, DTI calculation, etc. to...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Sounds like a plan!
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
What wording to you use to ask about this?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
This is a good thread to read up on.
https://slickdeals.net/f/14173061-07-26-2021-best-mortgage-rates-from-big-reputable-lenders-and-sd-reviews-30year-2-75-15year-2-25-etc?v=1
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
They do charge a "processing" fee ($1630 in my case) for the loan, and I expect it will be about $3500-$4000 in closing costs when all is said and done. I'll use the same title company from the...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
I agree, shocked to see this from a bank.
My credit union did give me a similar offer about 8 years ago (completely unsolicited) which I took advantage of. My reasoning for that was that they had...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Actually they do. They may not for you because you didn't know.
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Yes, BoA offers this exact rate and rate modification on jumbo loans. It'll cost approximately $900. No credit pull, no changes to your existing loan terms and eliminates the need for any of the...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
For a jumbo loan? Literally just spoke with them last Friday… I know rate dropped but not that significant.
Non refi adjustment just means changing your interest rate without refinance your whole...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Want to thank the OP and chime in as i happened to come across the thread somehow and looked into my mortgage situation with bofa, not even knowing what to call my mortgage refi/adjustment request...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
While this is a decent offer for Chase clients who are eligible, if you are able to move assets around there are better deals to be had with a refinance.
As an example, I have a 30 year jumbo in...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
I didn't request anything from my current lender other than the pay off quote during the refi that was going through with better. com.
They sensed that I will be closing the loan and called me...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Deleted...saw this was asked already
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Read the fine print, it costs a point for that rate. Also, the deal is for a non-refi rate adjustment 😉
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
25,344 Views
Chase offered you a lower rate without refinancing so that you don’t go outside chase to explore the market. I can guarantee that you can get 2.4% rate outside chase today without any points and will...
Page 1 of
2
1
2
