Is it time to refinance or buy??

[AssMan]

What are refi rates for a 30yr now with zero points? I’m seeing 4.0 and 3.5, pretty big spread.


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[Name Taken]

Just send an email. We bought recently but rates weren't this low when we bought.

 

[El_flasko]

Rates are coming back down in the low 3’s again for high credit conventional 30yrs. VA rates are similar and FHAs are all over the place depending on scores.

 

[marko]

Just closed on a 3.125% 30 year fixed a few weeks ago. Saved over $500 a month.

NOW be really smart and dump that $500 and maybe more into principle each month and buy down that loan.
Unless you are are 100% confident the market will return greater than 3 1/8% - and I am not.
This last year I dumped $81k into my mortgage instead of stocks - mtg. paid off, would have lost my shirt in the market.
Good move.....

 

[marko]

And 20% down is the minimum one should start a new purchase with - otherwise - you can't afford it.

 

[spoon059]

Just did a refi 2 weeks ago. Dropped from 18 years left to a new 15 year loan. Went from 3.875% to 2.62%.

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[niftyvt]

NOW be really smart and dump that $500 and maybe more into principle each month and buy down that loan.
Unless you are are 100% confident the market will return greater than 3 1/8% - and I am not.
This last year I dumped $81k into my mortgage instead of stocks - mtg. paid off, would have lost my shirt in the market.
Good move.....

Nope, not right now, wife lost her job. Extra $500 going to basics. The refi pulled us out of the red. . .barely.

 

[Speed3]

Just did a refi 2 weeks ago. Dropped from 18 years left to a new 15 year loan. Went from 3.875% to 2.62%.

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2.62% for a 15 is nice... I'm gonna start searching hard again

 

[Ammo Jon]

I was at a 2.7/15 before my divorce. I had to buy her out and go to a 3.25/30. My payment stayed the same. Willing to refi it it makes sense or rates drop even lower.

 

[Doobie]

I have 3.875%/30 year loan with 22 years left. It's a darn USDA loan. Our first house and we didn't know much about loans, buying houses, or houses in general. Trying to get out of this communist state, but in the mean time(1-2 years) if I can lower my payment, that would be great.

 

[S.M.I.B]

I have a 4.625%/30 year with 22 years remaining. It might be time to refinance. I would be looking for a 15 or 20 year. I don't want to add more years.

 

[Name Taken]

Keeping my fingers crossed we can get in a 30 fixed at 3.0 or under. I'm only 4 months in so it isn't a big deal. Hoping the rates keep going down.

 

[El_flasko]

Sub 3% rates on the 30yrs are pretty unlikely. Not saying never, but I can see the 15yr rates getting back to 2.625% again with 30’s around 3-3.125%. With my clients now anything sub 3.5% (depending on credit, equity position, debt ratios, etc.), it’s worth looking to lock imho.

 

[Speed3]

Just did a refi 2 weeks ago. Dropped from 18 years left to a new 15 year loan. Went from 3.875% to 2.62%.

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Did you have to pay closing costs? Get a credit? I'm seeing 2.75% but no closing credit.

 

[spoon059]

I went thru a credit union, but about $2500 in closing costs out of pocket.

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[DraKhen99]

My wife went on Lending Tree yesterday and someone called her, and she had good rapport with him, so she's going through with him. 2.875% for 15yrs, rolling in closing costs.

-John

 

[Batt816]

My wife went on Lending Tree yesterday and someone called her, and she had good rapport with him, so she's going through with him. 2.875% for 15yrs, rolling in closing costs.

-John

That sounds like a good deal.

 

[El_flasko]

As a reference, because I’ve been asked a bunch recently, here are the states I can do business.


Maryland
Pennsylvania
Delaware
Virginia
North Carolina
Georgia
Tennessee
Florida
Ohio

Through a STM referral, we can also accommodate NJ, WV, SC

Thanks all!

 

[Batt816]

As a reference, because I’ve been asked a bunch recently, here are the states I can do business.


Maryland
Pennsylvania
Delaware
Virginia
North Carolina
Georgia
Tennessee
Florida
Ohio

Through a STM referral, we can also accommodate NJ, WV, SC

Thanks all!

Do you travel to all these places to close or is it somehow all done online? Or do your clients have to travel to you?

 

[El_flasko]

Places like lending tree, I’m not a huge fan from experiences I’ve heard about. Credit unions I do respect a bunch in most cases. Slow, but can have great rates on shorter term loans especially. IMHO anyway.

Of course neither pay MDS IP dues and I’m much cooler and bald too so....

Lol