Home refinance request

[LaunchHard]

3.5% is awesome low as it is man. On our new house I think we locked in at 3.625 or something. I personally wouldn't buy my rate down, seems like it'd just take too long to make that money back to really make it that worth it to me.

My townhouse I'm sitting at 6% though, so refinancing down to 3.5% might just be worth it.

Dumb question, but are you upside down at all? I know a lot of places won't do a refinance if you owe more than it's worth. That's my current issue with my townhouse, but we plan to pay a bunch off it once we sell the Fargo house.

Have you done a check through Fannie Mae or Freddie Mac to see if your home is backed by either. If it is, you can refinance, likely without an appraisal with no out of pocket costs to you. It's a free online check and I would be happy to walk you through it or even just do it for you.

I will be out of the office all day today (Wed) as I'm going to Milwaukee to purchase an STi. Either leave me a message with the best time to call back tomorrow or just call me anytime on Thursday.

Junaid
763-557-9683

[Halon]

That house is financed through TCF, and we went there and asked them about refinancing and they said they wouldn't even consider it if we owed more than it was worth. If you know a way we might be able to, hell yeah I'm all for giving it a shot. I'll give you a buzz for sure, thanks!

As for our WF experience, yeah a lot probably had to do with our loan agent being MIA a lot. But funny thing is of the 4 we spoke with when shopping for a mortgage, she was the best. But once they locked us in, they stopped answering the phone. We would get tons of emails from random different "departments" asking for the same info, pay stubs, etc over and over, it became obvious that none of them must work in the same building, none of them spoke to each other, things just did not flow well. They stopped answering their phones. I had to track down a random admin office of theirs on my lunch break to talk to them and get them to realize they were going to delay our closing. Was extremely frustrating. Just felt like they were a big company and we were not important. Moving all of our money out of there and into some sort of local small bank/credit union is on our to-do list now.

[asshanson]

Brandon, there are now programs for Freddie/Fannie that let you refinance if you are upside down, but only up to 125% loan to value ratio or something. So if the value has dropped significantly, it might not be eligible.

[Tachyon]

Have you done a check through Fannie Mae or Freddie Mac to see if your home is backed by either. If it is, you can refinance, likely without an appraisal with no out of pocket costs to you. It's a free online check and I would be happy to walk you through it or even just do it for you.

I will be out of the office all day today (Wed) as I'm going to Milwaukee to purchase an STi. Either leave me a message with the best time to call back tomorrow or just call me anytime on Thursday.

Junaid
763-557-9683


Do you have a business email I can send my financial criticals to for a best rate quote?

My house is not financed though Fannie Mae or Freddie Mac and I would be looking to do a conventional 30-year as the new rules on MIP make FHA streamline actually more expensive per month for me.

-Paul

[Halon]

I owe 138k, and I'd say it's worth about 110k. It was about 1 year ago when I asked about refinancing and they said no. Will see what LaunchHard is able to find out.

[LaunchHard]

Do you have a business email I can send my financial criticals to for a best rate quote?

My house is not financed though Fannie Mae or Freddie Mac and I would be looking to do a conventional 30-year as the new rules on MIP make FHA streamline actually more expensive per month for me.

-Paul

Junaidkhan@mortgageelite.com