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Hi All - this is my first post here.

I was concern about going with http://hamiltonnational.com/ mortgage company as they are offering me 4.250 with APR of 4.279 for 30 Yrs fixed with 0 points. The reason for my concern is that I prefer to deal with some one who is local in my town or at least near by my town.

Details - I live in Northern NJ, the mortgage company is in Pennsylvania state. My current interest rate is 4.875 (30 Yrs fixed and I have been living in this brand new house for about 7-8 months). Are their any other important things that I should be worried about when applying for refinancing through the above mortgage company? I Google and I couldn't find anything good or bad about it either.

Good faith Estimate I received -
Origination - 845.00
Appraisal - 350.00
Title Insurance - 1250.00
Govr. Recording Fee - 150.00
Escrow (prop. tax + all Insurance) - 1540.00
Daily Interest Chr (15 days) - 731.00

If I go for their deal - I have to pay out of pocket couple Ks and I would be saving roughly around $200.00 per month.

Any help/tip would be great!!

Thank you all
Networm

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Checked their Website. Very legit. Go for it!

Maybe you can save on your title insurance:

FW Text

Why don't you just ask for the no cost refi rate? You would still save money with no out-of-pocket expenses except for impounds.

Thanks for the updates - my only concerns are - should I trust this mortgage company? Any tips that I should be careful off? etc.

Any help appreciated.

Thank you All
Networm

networm1 said: Thanks for the updates - my only concerns are - should I trust this mortgage company? Any tips that I should be careful off? etc.

Any help appreciated.

Thank you All
Networm

The outfit is legit! Go for it.

madoff said: networm1 said: Thanks for the updates - my only concerns are - should I trust this mortgage company? Any tips that I should be careful off? etc.

Any help appreciated.

Thank you All
Networm

The outfit is legit! Go for it.
lol. they must be if your doctor, dentist, and whos who at your country club think so!

This just feels like spam ... am i the only one getting that vibe ?

Update - yesterday I received email with newer rates and it was 4.125 with 4.159 APR and 0 points.

So I was tempted to go for it hence I went online on their web site and filled in the application.

Later on the guy from the Mortgage company called me and as I was asking question about Good Faith Estimate and would their be any fee charges that will change from what is stated in GFE (I received a month ago) - and he said it would be same and the only case the interest rate might change if the property appraisal value is less than 75% of loan amount that I am applying for. So I was little hesitant because what if the property appraisal value went down. So if the value of the house is below certain value then the interest rate would be 4.250 and if I want to still keep 4.125 then I have to buy points. This is a brand new house and I moved in in Dec 2009. I don't know what would be the appraisal value of it today?

Is there a way I can guesstimate the value of my house?

Thank you all.

There are Websites such as Homevalues where you can get home values & see comparable home valuations. (I am sure you have already know this.) By the way, if you look at Licensing and Other Disclosures, you see Hamilton National is a decent lender.

What did you decide to do. Did they come up with any additional charge above the Good Faith Estimate?

What did you decide to do. Did they come up with any additional charge above the Good Faith Estimate?

I just refinanced my mortgage with Hamilton National. The loan officer was helpful, available and responsive. I did not find lower rates, and costs were lower than I found elsewhere. They sold the mortgage on to a large bank with whom I had an existing relationship; and the rate was 3/8% lower than if I had gone with that bank directly. Perhaps one way they keep the costs low while keeping their profits up is that they are affiliated with the title company they use (although you are not required to use that company). I have read that small lender rates are generally lower right now because the big banks have such high refi demand that they can increase rates to throttle back the demand. They are happy to buy the mortgage at the true market rate once the small lenders have done the work originating. BTW you can look up mortage lender licensing information in the NMLS http://www.nmlsconsumeraccess.org

This whole thread is nothing but shills



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