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Posted: 12/20/2011 5:56:00 AM EDT
[#1]
30 year?
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Posted: 12/20/2011 5:56:59 AM EDT
[#2]
I just did the same thing the end of Nov. 15 year 3.25 nothing out of pocket.
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Posted: 12/20/2011 5:57:12 AM EDT
[#3]
Wow, that's amazing. We got our mortage (20 yr) at 4.25% about 18 months ago and I thought that was a good deal. Congrats.
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Posted: 12/20/2011 5:57:51 AM EDT
[#4]
Quoted:
Wow, that's amazing. We got our mortage (20 yr) at 4.25% about 18 months ago and I thought that was a good deal. Congrats. yep, 1 year ago this month I locked in at 4.25%. Not complaining
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Posted: 12/20/2011 5:58:56 AM EDT
[#5]
Nice, how much is it saving you a month?
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Posted: 12/20/2011 6:00:30 AM EDT
[#6]
We should close on our first home in about three weeks. Our rate is 3.75%
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Posted: 12/20/2011 6:04:32 AM EDT
[#7]
Rates are crazy low. I just refinanced in Nov 2010 and the rates dropped again.
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Posted: 12/20/2011 6:12:15 AM EDT
[#8]
Quoted:
I just did the same thing the end of Nov. 15 year 3.25 nothing out of pocket. Who with if you don't mind me asking? |
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Posted: 12/20/2011 6:27:41 AM EDT
[#9]
Quoted: Quoted: I just did the same thing the end of Nov. 15 year 3.25 nothing out of pocket. Who with if you don't mind me asking? Yeah, I'd like to know too. |
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Posted: 12/20/2011 6:31:31 AM EDT
[#10]
TAG.
CMOS |
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Posted: 12/20/2011 6:32:08 AM EDT
[#11]
Quoted: Quoted: Quoted: I just did the same thing the end of Nov. 15 year 3.25 nothing out of pocket. Who with if you don't mind me asking? Yeah, I'd like to know too. this |
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Posted: 12/20/2011 6:33:27 AM EDT
[#12]
Quoted:
Quoted:
Quoted:
I just did the same thing the end of Nov. 15 year 3.25 nothing out of pocket. Who with if you don't mind me asking? Yeah, I'd like to know too. tagged for answer |
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Posted: 12/20/2011 6:34:02 AM EDT
[#13]
Quoted:
We should close on our first home in about three weeks. Our rate is 3.75% Through who? |
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Posted: 12/20/2011 6:34:41 AM EDT
[#14]
That is a great rate....I am tickled with the 4% I have.
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Posted: 12/20/2011 6:34:58 AM EDT
[#15]
There are refi deals out there. You got to watch out for the refi deals that end up using an adjustable rates. Those that refi using that plan will be living large now but when rates go up they are gonna pay the piper...
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Posted: 12/20/2011 6:35:42 AM EDT
[#16]
Wife and I are refinancing. Since we're going to be moving in the next couple of years, we're going for a five year ARM, 2.875%. It's like free money.
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Posted: 12/20/2011 6:35:53 AM EDT
[#17]
We just went from 5.75% to 3.75%. It did cost $2100 in closing costs, but still worth it. |
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Posted: 12/20/2011 6:37:17 AM EDT
[#18]
Quoted:
Quoted:
Quoted:
Quoted:
I just did the same thing the end of Nov. 15 year 3.25 nothing out of pocket. Who with if you don't mind me asking? Yeah, I'd like to know too. this That. 
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Posted: 12/20/2011 6:37:35 AM EDT
[#19]
I refi last summer at 4.5% 30-year and thought that was a great rate (previously at 5.875%). Now same place has'em at 4%, no points.
The rates now, last 2 months I've been tempted to refi again but to a 15 year. Lowest i saw was 3.25% with no points
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Posted: 12/20/2011 6:37:38 AM EDT
[#20]
Fixed?
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Posted: 12/20/2011 6:38:03 AM EDT
[#21]
Quoted:
Quoted:
We should close on our first home in about three weeks. Our rate is 3.75% Through who? FHA through a local bank. With 10% down. |
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Posted: 12/20/2011 6:38:16 AM EDT
[#22]
We have a 20 at 8 would like to refi but the bank won't because I bought at the peak and now the house is worth 100 k less. Funny considering my taxs have tripled. We probably will lose the house
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Posted: 12/20/2011 6:38:27 AM EDT
[#23]
we did 3.75% one year ago for 30 years!!!!!!!
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Posted: 12/20/2011 6:39:28 AM EDT
[#24]
Quoted: We just went from 5.75% to 3.75%. It did cost $2100 in closing costs, but still worth it. It always costs money in closing costs. The people who say "nothing out of pocket" simply had the lender/broker costs paid out of the loan, and added more the principal amount. They still paid it, they simply added the amount to what they are financing. At 3.75%, I cannot say that's a bad thing to do.  |
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Posted: 12/20/2011 6:40:55 AM EDT
[#25]
Quoted: We have a 20 at 8 would like to refi but the bank won't because I bought at the peak and now the house is worth 100 k less. Funny considering my taxs have tripled. We probably will lose the house How have taxes tripled? My taxes havent gone up a dime since I bought in 2006, and you should easily be able to context you tax values and reduce your tax burdens by more than any increase in tax rates. This doesnt make any sense. |
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Posted: 12/20/2011 6:41:48 AM EDT
[#26]
Quoted: We have a 20 at 8 would like to refi but the bank won't because I bought at the peak and now the house is worth 100 k less. Funny considering my taxs have tripled. We probably will lose the house At some point, you just have to toss them the keys and move on. You might be able to get them to lower your rate (not a refi, just a lower rate) if you don't have much equity and tell them you're probably going to have to walk otherwise. And if you can prove to the county that your value is down, you should be able to appeal your taxes. Unless they were just dicks and jacked the millage rates through the roof. Something to consider, at least. |
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Posted: 12/20/2011 6:42:16 AM EDT
[#27]
Closing on my new home in Colorado Springs today at 3.75% fo 30 years. Also haing my home in Florida refinaced today at 3.75% down from 5.375%. Can't wait for the day to be over with. Gonna be a little celebrating tonight.
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Posted: 12/20/2011 6:42:21 AM EDT
[#28]
Quoted:
We have a 20 at 8 would like to refi but the bank won't because I bought at the peak and now the house is worth 100 k less. Funny considering my taxs have tripled. We probably will lose the house If your loan is now owned/guaranteed by Fannie Mae or Freddie Mac, you should be able to refi under the HARP program. Go to www.makinghomeaffordable.gov, to find out if your loan is with Fannie or Freddie and see if you qualify. Good luck. ETA - here is the exact link you need http://www.makinghomeaffordable.gov/get-assistance/loan-look-up/Pages/default.aspx Sorry, can't make it hot at work. |
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Posted: 12/20/2011 6:43:01 AM EDT
[#29]
Quoted:
It's going to cost me $500 out of pocket. I can hardly believe it. when i was in high school, mortgages were 18% And they will be higher again. Soon, the Fed will not be able to support such record low interest rates, and then the rates will rise. Even if only to a historical average of 7 or 8 percent. And then the housing prices will fall and the housing collapse will continue. If you can refinance, do it. But realize the impact that such low rates have on the value of housing and plan accordingly. Everyone should know that the 2008 credit issues have been replaced by easy money again in a hope of keeping the housing market inflated. |
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Posted: 12/20/2011 6:43:16 AM EDT
[#30]
I'm on an FHA (~$50/mo PMI) 30yr, 5.25%, summer of last year.
If I refinanced at a lower rate, my payments would INCREASE because PMI is now ~$116/mo. I had the money for 20% down and a standard loan, but my credit defaulted to 3 goose eggs a few months before I bought the house. Turns out bad credit is better than NO credit... Right now my credit is just under 800 and the bank was throwing money at me to get the car I just bought, 18 months after denying me a home loan several times... |
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Posted: 12/20/2011 6:43:29 AM EDT
[#31]
Quoted:
Quoted:
Quoted:
I just did the same thing the end of Nov. 15 year 3.25 nothing out of pocket. Who with if you don't mind me asking? Yeah, I'd like to know too. Pentagon Federal Credit Union. https://www.penfed.org/productsandrates/mortgages/mortgagerateslisting.asp The front page shows ARM rates and you have to dig down the linked page here to find the 15 year fixed rate loan, there's lots of other options too. |
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Posted: 12/20/2011 6:43:54 AM EDT
[#32]
We will be buying a house sometime in March - May timeframe in 2012... we have our down payment saved and ready. Planning a 20% down and 15-20 year note, I am praying these rates can stay low, or at least around 4%. 3.25% on a home loan is sick. |
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Posted: 12/20/2011 6:43:58 AM EDT
[#33]
Yeah we just did 3.3% on a 15 year with by-weekly payments, cut it down to a 13.5 year term. Nothing out of pocket. Great deals going on now!
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Posted: 12/20/2011 6:45:17 AM EDT
[#34]
Quoted:
Quoted:
We have a 20 at 8 would like to refi but the bank won't because I bought at the peak and now the house is worth 100 k less. Funny considering my taxs have tripled. We probably will lose the house How have taxes tripled? My taxes havent gone up a dime since I bought in 2006, and you should easily be able to context you tax values and reduce your tax burdens by more than any increase in tax rates. This doesnt make any sense. County/Local keep raising the assessed values and the tax rates. Here in Clark Co, WA, my home value has dropped 25% from purchase price, yet property tax dollar amount have remained the same or slightly increased. They passed a "it's for the schools/children/library" vote (BARELY) back in 2010 and it went into effect in 2011. 
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Posted: 12/20/2011 6:47:28 AM EDT
[#35]
Quoted: Quoted: Quoted: We have a 20 at 8 would like to refi but the bank won't because I bought at the peak and now the house is worth 100 k less. Funny considering my taxs have tripled. We probably will lose the house How have taxes tripled? My taxes havent gone up a dime since I bought in 2006, and you should easily be able to context you tax values and reduce your tax burdens by more than any increase in tax rates. This doesnt make any sense. County/Local keep raising the assessed values and the tax rates. Here in Clark Co, WA, my home value has dropped 25% from purchase price, yet property tax dollar amount have remained the same or slightly increased. They passed a "it's for the schools/children/library" vote (BARELY) back in 2010 and it went into effect in 2011. Round here - people fight that. All you need is comps. They keep lowering my assessed value because comps have dropped. I pay less now than I did in 2006. |
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Posted: 12/20/2011 6:52:44 AM EDT
[#36]
Quoted: Quoted: Quoted: We have a 20 at 8 would like to refi but the bank won't because I bought at the peak and now the house is worth 100 k less. Funny considering my taxs have tripled. We probably will lose the house How have taxes tripled? My taxes havent gone up a dime since I bought in 2006, and you should easily be able to context you tax values and reduce your tax burdens by more than any increase in tax rates. This doesnt make any sense. County/Local keep raising the assessed values and the tax rates. Here in Clark Co, WA, my home value has dropped 25% from purchase price, yet property tax dollar amount have remained the same or slightly increased. They passed a "it's for the schools/children/library" vote (BARELY) back in 2010 and it went into effect in 2011. My town the latest assessments went down, but to make up for the difference they just raised the rates (dirty fucking basterds)
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Posted: 12/20/2011 6:55:03 AM EDT
[#37]
I'm not getting a mortgage. I'm paying 2 siblings 210 each a month for 20 years on our family home recently valued at 300k
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Posted: 12/20/2011 6:57:55 AM EDT
[#38]
Quoted:
We have a 20 at 8 would like to refi but the bank won't because I bought at the peak and now the house is worth 100 k less. Funny considering my taxs have tripled. We probably will lose the house get an appraisal done and contest the taxes I got mine dropped like 20% |
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Posted: 12/20/2011 6:59:13 AM EDT
[#39]
Quoted:
Quoted:
We should close on our first home in about three weeks. Our rate is 3.75% Through who? i found mine thru bankrate.com it's a regional sort of market |
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Posted: 12/20/2011 7:02:07 AM EDT
[#40]
Quoted:
Nice, how much is it saving you a month? $300 approx I actually refinanced a year ago, but fock it for a 3.25% I'll do it again over 5 years i'm saving 12K after tax, pretty nice payoff for signing some forms and faxing some documents |
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Posted: 12/20/2011 7:02:17 AM EDT
[#41]
Quoted: It's going to cost me $500 out of pocket. I can hardly believe it. when i was in high school, mortgages were 18% 15 year Aah the Carter years  We secured a 15 year at 3.5% a few months back |
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Posted: 12/20/2011 7:11:29 AM EDT
[#42]
Seems like lthe mid and east cost,the rates are a little lower. i have not been able to find a rate lower than 3.5% without points when we refied last month. those that say there is not out of pocket cost are incorrect. They just take it out of your pocket later. They don't do it for free.
I got a 15 year @ 3.5% with 2200 in closing cost for stuff like title and escrow junk. My payment stayed the same,but pay off the house 5 years earlier. The first year of interest savings pay for the refi. |
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Posted: 12/20/2011 7:15:09 AM EDT
[#43]
Quoted: We should close on our first home in about three weeks. Our rate is 3.75% We bought in October and locked into the same rate for 30yrs. |
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Posted: 12/20/2011 7:42:42 AM EDT
[#44]
Quoted:
Seems like lthe mid and east cost,the rates are a little lower. i have not been able to find a rate lower than 3.5% without points when we refied last month. those that say there is not out of pocket cost are incorrect. They just take it out of your pocket later. They don't do it for free. I got a 15 year @ 3.5% with 2200 in closing cost for stuff like title and escrow junk. My payment stayed the same,but pay off the house 5 years earlier. The first year of interest savings pay for the refi. this fock king loan I got is so awesome that they are paying points back to me, it's going to end up costing me $499 and nothing more. but yeah, the normal closing costs on a refi are going to work out to be somewhere around $3K, title insurance is like $2200 all by itself. |
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Posted: 12/20/2011 8:05:24 AM EDT
[#45]
outstanding!
(from someone who has been in the industry for 15 years) |
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Posted: 12/20/2011 8:09:30 AM EDT
[#46]
I just went yesterday and signed the paperwork to go from a 20 year (4.375%) note to a 15 year (3.375%) note. We just did the 20 year last November thinking it'd never get lower. I was initially at a 30 year (6%) note so this will save me a TON of money.
We are also paying $350/mo extra so it should turn my 30 year note into a 12 year......wohooooo!!! |
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Posted: 12/20/2011 8:18:16 AM EDT
[#47]
I refinanced about a year ago from a 30 @ 5.875% to a 15 @ 3.5%... Total payment increased by 6$ / month.
 . Even better was the 9 year cut in length of mortgage.. My interest savings in the first year more than covered the closing costs.
In the past year, my 15 year note has become a 12 year note.
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Posted: 12/20/2011 8:18:33 AM EDT
[#48]
Where are yall going to find these rates?
I bought 21 months ago and got a 5.125 rate on 30 year. Im better off financially then i was 2 years ago. and can swing a 15year now. |
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Posted: 12/20/2011 8:20:52 AM EDT
[#49]
Quoted:
Where are yall going to find these rates? I bought 21 months ago and got a 5.125 rate on 30 year. Im better off financially then i was 2 years ago. and can swing a 15year now. I just called my local bank. If you have a 720-750 FICO score they are more than happy to refinance I was told. |
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Posted: 12/20/2011 8:21:56 AM EDT
[#50]
Quoted:
Quoted:
We just went from 5.75% to 3.75%. It did cost $2100 in closing costs, but still worth it. It always costs money in closing costs. The people who say "nothing out of pocket" simply had the lender/broker costs paid out of the loan, and added more the principal amount. They still paid it, they simply added the amount to what they are financing. At 3.75%, I cannot say that's a bad thing to do.
I'm surprised this thread made it this far without that clarity... pre paids ....taxes...insurance.....title fees....whatever....trust me they are not free and yes they are rolled into loans....nothing out of pocket simply means you are paying for them over the life of the loan and not upfront... |
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