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Old 06-07-2012, 09:23 AM
 
2,180 posts, read 4,537,318 times
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I am looking for a local refinance option... let me know if you guys have any one you would recommend.

I gotta get me some 2.xx% if possible
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Old 06-07-2012, 11:01 AM
 
2,076 posts, read 4,073,711 times
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Why do you want local? The best rates are not local. Do you have equity?

I shopped the heck out of refi rates in Jan and Box Home Loans (in UT) was BY FAR the cheapest when you looked at rates and fees. A lot of lenders pile on garbage fees.

I ended up not closing the refi the Box due to the appraisal coming in about 10k low. I had great service with them though otherwise. They're pretty "internet based" and you can do most everything through their website.

Randomly, the same day my low appraisal came back from Box, Wells Fargo called and offered me a no cost refi (really no cost, not tacked onto the end of the loan) to 15 year fixed @ 3.5% and kept no PMI. It wasn't the absolute cheapest rate, but considering no PMI and no fees/closing costs, it was a good deal.

Quote:
Originally Posted by MSchu View Post
I am looking for a local refinance option... let me know if you guys have any one you would recommend.

I gotta get me some 2.xx% if possible
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Old 06-07-2012, 11:08 AM
 
2,180 posts, read 4,537,318 times
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that WF was a good deal. we're just over 4.5% so it would need to come in at least a point below that.

I think we'll just wait it out for a while.
thanks anyway
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Old 06-07-2012, 12:31 PM
 
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Current rate for 15 years conforming for WF is 3% with 1 point. I'm pretty sure you can get a no points no cost from them for about 3.25.

Yesterday their rate for a 15 was 2.875 with 1 point.
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Old 06-07-2012, 01:44 PM
 
2,180 posts, read 4,537,318 times
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Their?
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Old 06-07-2012, 01:54 PM
 
11,177 posts, read 16,018,972 times
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Quote:
Originally Posted by dkinlv View Post
Current rate for 15 years conforming for WF is 3% with 1 point. I'm pretty sure you can get a no points no cost from them for about 3.25.

Yesterday their rate for a 15 was 2.875 with 1 point.
Quote:
Originally Posted by MSchu View Post
Their?
Thought the color coding might help.
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Old 06-07-2012, 02:10 PM
 
2,180 posts, read 4,537,318 times
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IC^...TY.

we tried WF(currently 4.5%/30yr), they wont touch the loan currently... Probably LTV. I think we may be okay where we are.
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Old 06-07-2012, 08:05 PM
 
2,076 posts, read 4,073,711 times
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Getting no cost loans is mainly dependent on your loan amount, since the lender credit amount which is covering your closing costs making it no cost, is based on a percentage of your loan amount.

If you have a 400k loan, it's pretty easy to find a no cost loan with only a small change in interest rate. If you have a 50k loan, forget it.

Quote:
Originally Posted by dkinlv View Post
Current rate for 15 years conforming for WF is 3% with 1 point. I'm pretty sure you can get a no points no cost from them for about 3.25.

Yesterday their rate for a 15 was 2.875 with 1 point.
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Old 06-07-2012, 10:39 PM
 
Location: ( ͡° ͜ʖ ͡°) (╯°□°)╯︵ ┻━┻ ̡
7,112 posts, read 13,157,837 times
Reputation: 3900
We have been in our home now for about 15 months now. Once we hit the 12 month mark, every bank out there is flooding our mailbox with refi options. We are right above 4.8 now so why not try to get half that.

I'm trying out one bank now that specializes in VA refi. They claim to be able to get me to high 2%.

Will find out in about a week or two.


Sent from my iPhone while driving using Tapatalk.
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Old 06-08-2012, 12:42 AM
 
2,724 posts, read 4,764,096 times
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Quote:
Originally Posted by von949 View Post
I'm trying out one bank now that specializes in VA refi. They claim to be able to get me to high 2%.
Was the mortgage on your short sale government insured?
If yes, no VA/FHA for a minimum of 3 years (due to CAIVRS).
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