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Old 07-12-2009, 01:19 PM
 
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Thinking of using Pulte mortgage. Any comments of competitive on rates and terms, as well as closing costs. Also ease of use and closing??
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Old 07-12-2009, 07:42 PM
 
Location: Sacramento
2,568 posts, read 6,084,267 times
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Originally Posted by gregandvicky View Post
Thinking of using Pulte mortgage. Any comments of competitive on rates and terms, as well as closing costs. Also ease of use and closing??
We used them twice before all this economic mess. We used them to get the discount on the home price. The first time we refi after 1 year because we sold our previous home and we wanted to get rid of PMI. Second time we refi after 1 month because ING was offering a zero closing cost special.
The second time we were getting our closing costs reimbursed by the relo company so when we said we didn't want any closing costs paid. Well at closing the stuck us with all the closing costs including the ones that are the sellers responsibility. But our GFE didn't show that so after closing we called them and had the money reimbursed. So my advice to you take your GFE to closing and compare it line by line with the HUD.
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Old 07-14-2009, 08:56 AM
 
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Why would you refinance to remove PMI?If you pay your loan balance to 80% of your original purchase price you can request for the PMI to be removed. Or if you reach 78% or less it automatically falls off. How much did you pay in closing costs to refinance the PMI off? I would assume the mortgage broker didn't mention this and instead was calculating their profit. Did they roll it in to the mortgage as well? -oh man
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Old 07-14-2009, 11:39 AM
 
Location: Sacramento
2,568 posts, read 6,084,267 times
Reputation: 1919
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Originally Posted by evenso View Post
Why would you refinance to remove PMI?If you pay your loan balance to 80% of your original purchase price you can request for the PMI to be removed. Or if you reach 78% or less it automatically falls off. How much did you pay in closing costs to refinance the PMI off? I would assume the mortgage broker didn't mention this and instead was calculating their profit. Did they roll it in to the mortgage as well? -oh man
This was when house prices were going up and up. In a year the house appraised for 12% more. We also refi to get a much lower rate. And no we didn't take any cash out.
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