refinance with no closing costs
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Should I Refinance?
Asked by T.B. from San Francisco
on February 5, 2009
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I purchased my home 6 yrs ago at a fixed rate of 6.375% for 30 yrs. My financial advisor is advising that I refinance at a new fixed rate of 5% for 30 yrs and include...
Answers
- you should get the advice of a finance expert that is not positioned to gain a commission if you choose this option. it is hard to get an unbiased opinion from someo...
- Hi T., If you can afford the payments as you have them now, then don't refinance. Not only will you owe more than you do now on the principle but over time you will...
- I've been a Realtor for 40 years, and have seen all the scenarios you can name. One of the crucial things you need to think about before refinancing is "how long do y...
Should We Refinance?
Asked by N.B. from Chicago
on January 29, 2010
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I wondered if there are any mortgage savvy people out there that might have an opinion on what would be the best decision.
We have made not great decisions in the p...
Answers
- I am not a mortgage expert. When I purchased my first condo I made a lot of mistakes because I used a mortgage broker who did not have my best interests in mind (desp...
- I know a great mortgage person who would assess your situation and be honest with you about what would be best for you to do or not do. Respond back if you want her c...
- From our experience, your mortgage payments might double when your arm expires. It's ridiculous how much they can increase your payment, but in the fine print of the ...
Refinance???
Asked by M.P. from Albuquerque
on August 5, 2010
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We recently found out that we need to replace our roof. We originally got out a loan on our car to pay off our debt and to use the remaining money towards the roof. Ho...
Answers
- You need to get all these numbers together and get a numbers person to run them for you. Hannah is right - it costs money to refinance, and it could cost more to do t...
- My husband and I own a roofing company. Just wanted to advise you regarding your roof. It's always a good idea to get a few different quotes. Most companies require...
- Just remember it costs $$ to refinance so you need to weigh whether it is cheaper then getting another lown at whatever % you would then get
Should I Refinance My Mortgage?
Asked by A.D. from Dallas
on January 20, 2009
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I had a 5 yr ARM loan whish I got refinanced last year, March 2008, with 5.5%, 30yrs fixed. I pay monthly escrow with it.
As rates are going down , should I refinan...
Answers
- The easiest way to determine your savings is to go to a website like Bankrate.com and use their mortgage calculators to see how much you will save changing your mortga...
- Another tip: make your monthly payment in 2 seperate payments each month. For example, if your mortgage per month is $1000, pay $500 every two weeks (like one paymen...
- I agree with the previous post - it's too soon and rates haven't changed that much for you to really see any benefit. Plus, refinancing too frequently could have a ne...
Refinance
Asked by H.M. from Phoenix
on September 29, 2010
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I'm looking into refinancing my home loan but not too sure which bank should I go with. It seems like most bank are offering about the same interest rate, the differe...
Answers
- Compare the APR offered from each bank. The APR is what levels the playing field and allows you to truly compare the deals for each lender. It makes it a comparison ...
- Hmm..someone said they had no fees but the closing costs rolled in well, the fees are in the closing costs...they are all put together and normally all rolled into the...
- Hi H. M, Well I am a loan officer for one of the largest banks in the world so hopefully I can help you navigate through this process. 1. Rates are all pretty simila...
Refinance Question
Asked by J.P. from Chicago
on November 3, 2010
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For those of you who have refinanced lately, how long did it take? How much time passed between the appraisal and the closing? We are going thru a broker, and it see...
Answers
- It takes longer these days because the lenders are really scrutinizing people carefully. We lost our patience, also, but we couldn't change mid-way, so stick it throug...
- We are currently going through refinancing, and we are using the same broker we used when we did our first refinance 4 years ago. My hubby's uncle is a real estate in...
- Former bank loan officer speaking- A broker isn't always the best route to go, largely because they are just shopping for you. They may not have actually found a b...
Will It Be Possible for Us to Refinance with Another Lender?
Asked by A.W. from Austin
on March 15, 2010
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Can anyone tell me if it is possible to refinance a loan in which you are currently delinquent on? My husband and I got severely behind on our mortgage. We have tried ...
Answers
- Hi A. - Even in the old lenient days of lending, you couldnt easily refinance a past due mortgage. Other than the lender agreeing to modify your loan, I highly doubt ...
- I don;t know about the refinancing but you can force them to lok over your escrow again. There are legal limit--I think 2 months--that a bank can make you have as cus...
- I seriously doubt you can get a loan when you are behind in your mortgage. Sometimes, I'm sure I sound like a broken record because I suggest it so much but please go...
Mortgage Company to Refinance with and Should I Pay More to Get a Lower Rate?
Asked by K.R. from Charlotte
on January 18, 2009
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I am currently looking to refinance my home. I would like to do this in the next few weeks as i believe the rates will be at the lowest after the election. My loan i...
Answers
- Most of the time it cost about $2000 to refinance your mortgage. With that said, intrest rates are so low it's unreal. I think they are between 4.9% and 5.6% and tha...
- You need to figure out if the closing costs will out weight the benefits of the new rate. What is your current rate? What are they offering? I would not refi if the cl...
- Hi, I just refinanced with a rate of 4.5% for 30 year fixed (did not have to buy the rate down) with RBC in New Bern. The loan originator there is efficient and ver...
Need to Refinance Home
Asked by K.B. from Tampa
on July 3, 2007
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I need help trying to find a good mortgage company that will help me refinance my home. my rate starts adjusting in October and i am not sure what my payments are goin...
Answers
- My husband is a banking center manager and does mortgage re-fi's all day long. Give him a call and see if he can help. Nick Rodriguez at Regions (used to be AmSouth)...
- We've done two mortgages through Dan Larios and both times he was able to work with us to find the best option. He's with Countrywide now and they have some great re-...
- I would be happy to help you out! I'm a SAHM and own Home Funding USA as well. Our fees and rates are very low. We have refinanced many families in the area and we wil...
Looking to Refinance... Any Advice?
Asked by K.B. from Boston
on March 19, 2009
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Does anyone have any advice about refinancing? I'm trying to decide if it's the right time. We pay 6.75 % on our current loan of about $100,000. It's hard to know h...
Answers
- Hi K., My husband & I just refinanced our home last week. We went from having an adjustable mortgage at 6% to a fixed 30-year mortgage at 4 7/8%. The person we us...
- Right new is a great time for a refi with the Fed just buying a bunch of long term debt!! My husband and I have bought two houses and refinanced once (filling out the ...
- definitely refinance, now is a great time, rates are low.. I usually go to lendingtree.com and you'll get 4 quotes - the better your credit,the lower your rate will be...
