Home refinance request

[Halon]

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.

[Tachyon]

Good question, but no. I purchased this house at the lowest point of 2009 at a greatly distressed price. Since then, it's been appraised *significantly* higher (single family, w/acreage in nice part of the south-west burbs).

I am just getting really anal about finding the best *actual* rate as it seems like not all places compare apples to apples when they advertise their rates.

[LaunchHard]

Originally Posted by Halon

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

[Tachyon]

Originally Posted by LaunchHard

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

[LaunchHard]

Originally Posted by Tachyon

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