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Posted: 11/8/2001 8:50:46 AM EST
I want to refinance my home loan. Anyone else do that recently and have a good experience? My current loan is at 8.1% and I figure it's about time to lock it in at some of these lower rates. Thanks guys.
Link Posted: 11/8/2001 8:59:41 AM EST
General rule of thumb is -if you can drop your rate by two percent, and are gonna stay in your home at least five years, you'll have time to recover the refi costs, and make a little money. You really need to do the math, and then weight the savings against your plans and objectives to see if it makes sense. If it allows you to cut your payment low enuf to change to a 15 year mortgage, and you plan on staying wherer you are at till you die, DEFINITELY do it.
Link Posted: 11/8/2001 9:44:53 AM EST
Link Posted: 11/8/2001 9:56:04 AM EST
Any leads on someone in the Southern California area? I'de love to be able to give the business to someone from the board.
Link Posted: 11/8/2001 9:58:08 AM EST
[url]http://www.expandedmortgagecredit.com/rates.shtml[/url] You can get an idea of rates and closing costs from this site. - CD
Link Posted: 11/8/2001 10:50:24 AM EST
STOP THE PRESSES....I can handle your refi from northern Ca NO PROBLEM! Ask DVDTracker about my service. Please call me at 925-634-4600 ext. 224 or on my cell at 925-457-4547. I have some nice promos for fellow Patriots!
Link Posted: 11/8/2001 10:58:47 AM EST
47 - How about a S Carolina refi????
Link Posted: 11/8/2001 11:02:47 AM EST
Wait for a while before refinancing. The rates are gonna continue to go down.
Link Posted: 11/8/2001 4:40:20 PM EST
Hey 47, I live in Southern Kal. Can you do a V.A. Streamline? I'm at 8.25 percent right now. I got a quote just yesterday for 6.25%, 1.75 points, with total closing costs of around 2000 dollars.
Link Posted: 11/9/2001 9:31:28 AM EST
yes i can, I can handle loans all over california and other states. Please call me 925-634-4600 ext.224
Link Posted: 11/9/2001 10:42:43 AM EST
What are the current rates for a 30 year loan with points and a no cost loan? What deals are you offering? Where are you located? I am in San Jose. I'll check to see what I have now and I'll give you a call next week. What is the back log? I be refinancing 150,000. Thanks John
Link Posted: 11/9/2001 10:48:59 AM EST
30 YR @ 6.00% TO 6.5% DEPENDING UPON FEES YOU WANT TO PAY. 7/1 ARM @ 5.5%....15YR @ 5.625%....RATES ARE DROPPING STILL. I OFFER A GIFT CERT TO YOUR LOCAL FFL DEALER DEPENDING UPON YOUR LOAN AMOUNT FROM $200-750, TO SPEND AS YOU SEE FIT. YOU CAN EMAIL ME AT DFG-TS@PACBELL.NET
Link Posted: 11/9/2001 10:50:54 AM EST
IM IN BRENTWOOD, IN THE EAST BAY ABOUT 45 MIN FROM SAN FRANCISCO....TURN AROUND TIME IS ABOUT 3 WEEKS POSSIBLY 2 WITH A FAST APPRAISAL.
Link Posted: 11/9/2001 11:48:23 AM EST
Rates from my credit union just this week 5.875% APR 6.11% for a 15 year loan and 6.375% or 6.56% APR for a 30 year fixed. Points or fees were not in the info. Dropping from 8.1% to 6% will reduce your payments about $150 per month per $100K of mortgage regardless of whether the time period is 15 or 30 years. That is a roughly 15% saving which of course does not take into account the income tax issue which might reduce that savings to around 10% in real terms, still worth it IMO> I've got a 6.5% loan @ 15 years that I got when rates dipped in Oct. of 92 or 93. If rates went to 5% I might be tempted to refi.
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