locked in a refi 15 yr fixed at 4.5

[HomeBrewerDude]

Just thought I would share... had 23 yrs left on a fixed 6.25. Now we have 8 years fewer payments!

 

[krylon]

I like my 5.0 30 year.

 

[MustISO]

Congrats. Was that 0 points? We're at 5.3% right now and I've been considering refinancing if I could get something around 4.5%.

 

[HomeBrewerDude]

Originally posted by: MustISO
Congrats. Was that 0 points? We're at 5.3% right now and I've been considering refinancing if I could get something around 4.5%.

Right, zero points. My wife and I have excellent credit and all the other crap that makes us attractive borrowers.

 

[AmigaMan]

Originally posted by: HomeBrewerDude
Just thought I would share... had 23 yrs left on a fixed 6.25. Now we have 8 years fewer payments!

LOL! That's almost exactly what I did. Went from a 7% 30 year to 4.5% 15 year after being in the house for 8 years. 7 years fewer payments and tons of interest saved.. Although in our case we'll be selling it as soon as the market picks back up. Four people in 1200 sq feet just isn't big enough. Plus I want at least half an acre of land instead of the .12 acres I have now.

 

[Vette73]

from who/bank?

 

[Mursilis]

Originally posted by: HomeBrewerDude

Originally posted by: MustISO
Congrats. Was that 0 points? We're at 5.3% right now and I've been considering refinancing if I could get something around 4.5%.

Right, zero points. My wife and I have excellent credit and all the other crap that makes us attractive borrowers.

Care to name what bank gave you that rate? Oh, and congrats on a smart decision!

 

[Descartes]

I am in the process of closing on a 4.65% 30 year. Congrats to you OP.

 

[alkemyst]

We are offering an extended friends and family deal. It's a pretty quick turn-around (a week or so versus many taking over a month or two).

There is no obligation and so far our rates have been just as good or better than the competition. The kicker is we are not charging fees.

You can apply online at https://mortgageapp.khov.com/refi

use Chris Feeny as the referrer to get the deal.

 

[Blieb]

I'm waiting on a call from our mortgage holder to do a refi under the new affordable refinance plan.

We don't have PMI now, but the values have changed so we would have PMI on standard refi ... the new affordable refi plan as it was explained to me means we would not have PMI even though the value has turned.

BB&T said 30yr 4.875 no points ... that was their rate on Monday ...

 

[vi edit]

I locked in at 4.625 for 15 at a local CU. There's some solace knowing they keep their loans in house and I don't have a different bank to pay every 6 months after it gets flipped.

We took a 30 year that was just under 3 years into the loan at effectively 7% and turned it into a 15 year and kept the payments the same. We're actually building a house in three years and squeezing the amortization schedule down gets us an extra $30,000 in principal in that time frame.

 

[ViviTheMage]

yay

 

[HomeBrewerDude]

Originally posted by: Mursilis

Originally posted by: HomeBrewerDude

Originally posted by: MustISO
Congrats. Was that 0 points? We're at 5.3% right now and I've been considering refinancing if I could get something around 4.5%.

Right, zero points. My wife and I have excellent credit and all the other crap that makes us attractive borrowers.

Care to name what bank gave you that rate? Oh, and congrats on a smart decision!

Local credit union....

 

[alkemyst]

Originally posted by: vi edit
I don't have a different bank to pay every 6 months after it gets flipped.

This should happen only once in the course of most loans. Usually before the first payment is even due. A local CU can be a great deal though, however; for plain jane style loans they usually aren't the best choice.

 

[AmigaMan]

Originally posted by: HomeBrewerDude

Originally posted by: Mursilis

Originally posted by: HomeBrewerDude

Originally posted by: MustISO
Congrats. Was that 0 points? We're at 5.3% right now and I've been considering refinancing if I could get something around 4.5%.

Right, zero points. My wife and I have excellent credit and all the other crap that makes us attractive borrowers.

Care to name what bank gave you that rate? Oh, and congrats on a smart decision!

Local credit union....

Yep, same here. Coastal Federal CU.

 

[gsethi]

Locked in earlier on 4.50% with 1/2 point for 30-yr fixed (or 4.80% with zero points and zero lender fees/closing costs)....currently on 5.875%

 

[Chunkee]

Originally posted by: gsethi
Locked in earlier on 4.50% with 1/2 point for 30-yr fixed (or 4.80% with zero points and zero lender fees/closing costs)....currently on 5.875%

what bank?

we are looking at 30 year, with 4.69 with 1/2 point...

jC

 

[Chunkee]

Originally posted by: alkemyst
We are offering an extended friends and family deal. It's a pretty quick turn-around (a week or so versus many taking over a month or two).

There is no obligation and so far our rates have been just as good or better than the competition. The kicker is we are not charging fees.

You can apply online at <a target=_blank class=ftalternatingbarlinklarge href="https://mortgageapp.khov.com/refi">https://mortgageapp.khov.com/refi</a>

use Chris Feeny as the referrer to get the deal.

what is your current 30 year mortgage?

 

[Drakkon]

Originally posted by: alkemyst
We are offering an extended friends and family deal. It's a pretty quick turn-around (a week or so versus many taking over a month or two).

There is no obligation and so far our rates have been just as good or better than the competition. The kicker is we are not charging fees.

You can apply online at <a target=_blank class=ftalternatingbarlinklarge href="https://mortgageapp.khov.com/refi">https://mortgageapp.khov.com/refi</a>

use Chris Feeny as the referrer to get the deal.

doh my state isn't listed (NV) - tons of houses on the market is making the current rates and offers hard to pass up any longer...

 

[Rudee]

I'll be mortgage free within 5yrs, so yay for me!

 

[gsethi]

Originally posted by: Chunkee

Originally posted by: gsethi
Locked in earlier on 4.50% with 1/2 point for 30-yr fixed (or 4.80% with zero points and zero lender fees/closing costs)....currently on 5.875%

what bank?

we are looking at 30 year, with 4.69 with 1/2 point...

jC

I locked in last thursday when rates dropped for like 1-2 hours in the morning. This is through a loan broker/agent with which I had been working for a month before.

We never locked a rate, just started the application process and locked in right when I felt it was the lowest for 30 year fixed. Was monitoring rates like a hog for like 4+ weeks.

IIRC, she told me it was through Citi Bank. I dont care about what bank as long as i get the rate and its 30 year fixed with 0 pre-payment penalty.

My last loan got bought out by Wells Fargo within 2 weeks of getting it from Fannie Mae. I think current rates are ~4.875% with 0 pts (so 4.69 with 1/2 points looks right)

 

[OCGuy]

Great day for rates, 30 year fixed @ 4.625% before risk adjustments.

 

[charrison]

got 4.6 @20 years a couple months ago. I wonder if they are going to get lower than that.

 

[theApp]

Got a 4.875% 30 year Wednesday for my first home Closing next Friday, I can't wait.

 

[FP]

Are any of you guys refi'ing a loan that you are underwater on? I have a loan that I had initially put 20% down on but looking at comps my home value is about 15% below what my current loan amount is.

I currently have a 10-year ARM and I really really want to roll into a 20 or 30-year fixed at these interest rates. I have excellent credit and have never missed a payment.

I have talked to a couple of banks/CUs already and they basically tell me sorry they won't offer me a loan.

Am I screwed? I have also talked to Fanny/Freddie and I don't qualify for any of the new programs out there due to mortgage-to-income ratio. Any help would be appreciated.