Refinance

I was actually looking for this thread the other day...I’m starting to get some mailers from my banks talking about no fees, and dropping my rate about .6% which would put me under 3%. I called up my current lender and asked if they could relay what I prequalified for if I wanted to refinance...same rate but with quite a few fees. I feel like there’s a catch somewhere I’m missing, so I’m not giving it much attention...but saving $100ish/month doesn’t sound bad either.
 
I have a quote in hand for 2.5% 30 year refi at 1.5 points (1.5% of loan balance). Really tempted to pull rhe trigger. When i finished construction and refi in February, I bought points to get it down to 3.25% "because there's no way it will ever be less than that" :rolleyes: :shaking:
 
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Geez, Better.com is telling me I can lock in a rate at 2.5% APR for 15 yr. $36k savings AND finishing sooner. Thats insane.
 
jeepinmatt said:
I have a quote in hand for 2.5% 30 year refi at 1.5 points (1.5% of loan balance). Really tempted to pull rhe trigger. When i finished construction and refi in February, I bought points to get it down to 3.25% "because there's no way it will ever be less than that" :rolleyes:
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30 year at 2.5%? You might compare total against a 15 yr and look at the total interest savings.
 
RatLabGuy said:
30 year at 2.5%? You might compare total against a 15 yr and look at the total interest savings.
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I'm well aware of the math, just don't know where the extra 69% per month would come from.
 
jeepinmatt said:
69
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2DFB4969-0173-4B61-95AF-54D8504667E5.jpeg
 
RatLabGuy said:
30 year at 2.5%? You might compare total against a 15 yr and look at the total interest savings.
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Screw that. Do a 30 pay it as a 15. If bad things happen you have a 50% option
 
shawn said:
stay-out-of-the-daggum-restaurants.jpg
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If we stopped eating completely (no groceries, no restaurants, no seeds for the garden) it still would not cover the extra 69% ;)
 
Got a quote today. 20 year or 30 year both at 2.875%, the 20 year 1700 in closing costs, the 30 has 2500... hmmm. Basically increase my payment 40 bucks a month and knock 5 years off the loan, but have 1700 in closing costs, probably a smart move
 
DSM Turbos said:
Got a quote today. 20 year or 30 year both at 2.875%, the 20 year 1700 in closing costs, the 30 has 2500... hmmm. Basically increase my payment 40 bucks a month and knock 5 years off the loan, but have 1700 in closing costs, probably a smart move
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is that with any points?
 
I signed on today 2 1/4 15 fixed
Total close is 1350 (1%) but rolling it in so no oop...
 
DSM Turbos said:
dang. Your quote is better than mine. 2.675 for a 15
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They told me 2.675 for 25 or 2.75 for 30

but I’m sub 50 LTV based on appraisal which helps
 
jeepyjman said:
if you dont mind me asking did you use one of the people you sent in the group convo about the contacts? I need to get on the ball to get mine refinanced. Im at 3.3
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Yes used Dan L.
At 3.3 it'll be hard to justify I was at 3.5 I think and it was still close
 
Ron said:
Yes used Dan L.
At 3.3 it'll be hard to justify I was at 3.5 I think and it was still close
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@Ron - you mind sharing your contacts as well? I'm at 3.99% and prob ~25-30% LTV...it's prob time for me
 
Yeah, whats this talk of a secret handshake and group i'm not part of. I wanna know how low they will go.
 
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