Refinance Your Home (1 Viewer)

El Caliente

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Rates are near an all time low.

 

Saints318

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Who do I call? I'm at 4.4% now plus paying 90$ in PMI but I'm at 70% LTV at this point. It would save me a few hundred a month I'm sure.
 

zeetes

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i would but i'm selling by year's end (my house has gone up in value by a 1/5 of what i purchased. the math doesn't make enough sense for me to. plus my interest rate is only 3. something. plus i don't really care about where i live. still better than denham though. going back to nola, hopefully.
 

brandon8283

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I'm at 3.375 from 2 years ago on a 15.

I need about 2.375 without points to make it worthwhile. I inquired this week but that doesn't seem like it's gonna happen, so gonna stick with what I have for the time being. Best I can find on a conventional 15 refi with no points is 2.75%.
 

brandon8283

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Who do I call? I'm at 4.4% now plus paying 90$ in PMI but I'm at 70% LTV at this point. It would save me a few hundred a month I'm sure.
You can request PMI be dropped at 80% LTV, and your bank is supposed to drop PMI automatically at 78% LTV. You should call them first and ask them why they haven't yet.
 

efil4stnias

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You guys still getting low rates? I am at 4.25 with 10 years left.
did mine mid may- went from 4.25 to 3.125 and due to my appraisal, im now at 84% LTV than just a year into original mortgage which was 90% LTV. So im that much closer to knocking off PMI ( moved that date up 2-3 years )

Standard Mortgage is around 2.7-3.0 for a 30 yr right now ( as of Tuesday night ) and 2.3 for 15 year.

Im with GMFS and not sure but they are main competitor of STandard ( they dont sell the mortgage- they are the mortgage co ) so i would imagine their rates are comparable too.

caveat- of course, credit has to be really good to obtain these rates.
 

James Spader

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did mine mid may- went from 4.25 to 3.125 and due to my appraisal, im now at 84% LTV than just a year into original mortgage which was 90% LTV. So im that much closer to knocking off PMI ( moved that date up 2-3 years )

Standard Mortgage is around 2.7-3.0 for a 30 yr right now ( as of Tuesday night ) and 2.3 for 15 year.

Im with GMFS and not sure but they are main competitor of STandard ( they dont sell the mortgage- they are the mortgage co ) so i would imagine their rates are comparable too.

caveat- of course, credit has to be really good to obtain these rates.
Copy that. Much appreciated. I might look at 10 as I really don’t want to extend out my maturity date.
 

Saints318

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Who do I call? I'm at 4.4% now plus paying 90$ in PMI but I'm at 70% LTV at this point. It would save me a few hundred a month I'm sure.
So, I did this. I had 25 years left on a 30 @ 4.4%. Now I'm down to 15 years @ 2.5%. My note is going up about $60 and it's adding about $4000 to my overall balance but I'll owe less on the house than I would've otherwise in about 2 years and it just keeps being a better decision the longer I go after that.
My only problem is I don't love my house, but it's very cheap so I'm stuck in it. I can only hope to upgrade in a few years or be completely debt free before I'm 50.
 

efil4stnias

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So, I did this. I had 25 years left on a 30 @ 4.4%. Now I'm down to 15 years @ 2.5%. My note is going up about $60 and it's adding about $4000 to my overall balance but I'll owe less on the house than I would've otherwise in about 2 years and it just keeps being a better decision the longer I go after that.
My only problem is I don't love my house, but it's very cheap so I'm stuck in it. I can only hope to upgrade in a few years or be completely debt free before I'm 50.
not to mention you just took 10 years off the amortization schedule.

And what you will notice is the amounts for interest and principal will level out pretty fast.
 

Saints318

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not to mention you just took 10 years off the amortization schedule.

And what you will notice is the amounts for interest and principal will level out pretty fast.
Thanks. I needed to hear that. I've been nervous over whether this was the right thing to do or if I was getting a good deal. I'm sure interest rates will be 0.99% next week or something. lol
 

efil4stnias

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Thanks. I needed to hear that. I've been nervous over whether this was the right thing to do or if I was getting a good deal. I'm sure interest rates will be 0.99% next week or something. lol
they will never go below 2.0. Absolutely right thing to do.

At that point, with all the servicing involved, it would cost the mtg co over the life of the loan. My tennis pal that works for Standard Mortgage said there is no way it goes lower than 2.25.

Just wait til you tell folks who own what your rate is...watch their facial expressions. LOL.
 

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