Refi Company Suggestion - Long Island - New York (NY) - Page 2 - City-Data Forum

Mstrlucky74 · 03-06-2021, 12:23 AM

One thing my wife is worried about is all these hard credit pulls brining down our credit score. I think ours dropped a little because our current refi company were
Considering had to pull our credit twice .. she went to diff company and had to kind of start process over to a degree . Thanks

likm · 03-08-2021, 11:44 PM

Previously, I've done new mortgage or refinancing with Bethpage Federal Credit Union or Teachers Federal Credit Union.

Unbelievably (to me), my refinance that just closed at the end of February was done with Citibank. Their deal was better than BFCU, TFCU, or Better.com.

2.375% on a 30 year, 0 points, $1500 lender credit.

No one else got close to this. The refi is going to pay for itself in a little over a year.

rocafeller05 · 03-09-2021, 08:22 AM

From what I read on financial forums it seems that refinancing is a hit or miss. Depends on the amount of work the banking institution has, how much the refi is, location ext. What rate you get might not be what so and so in Kentucky gets. That’s why it’s good to get quotes from a few different companies.

mb11111 · 03-09-2021, 09:12 AM

Quote:

Originally Posted by Spanky25

It all depends on the rate. I paid the $2,500 in mortgage tax by switching to a different lender. However, I had a better rate. It saved me $60 per month. Made up the difference in less than 3 years.

If you're in NY and your old bank had let you do a CEMA you would only pay the doc / legal fees and not the mortgage tax again - probably would have been only a couple hundred bucks and no mortgage tax. I just moved my mortgage to Citi from JPM via CEMA and refinanced and didn't pay the mortgage tax again since JPM allowed me to do that. Saved thousands.

FYI - Citi was a nightmare to work with and I have perfect credit and my refinance was plain vanilla. Avoid them at all costs. If I could do it all over I would have gone with another bank but I locked in at a crazy low rate. Citi also offloads the loans immediately to Cenlar for servicing, which I didn't know until it was too late. Not like it matters all that much, but you don't deal with the big bank when calling in with questions.