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Look at Provident.com as thats where I am seeing the best rebate points....

Many of the places I used for the rate comparisons have either closed shop or merged with other companies and have become not so competitive......I am looking to refinance again so I can update the thread and if you guys know of good online places feel free to PM me.

Shahhere

rated:
Guys:† I am looking to add my parents to my mortgage as they live and contribute to my home but then also want to remove my name so that I can buy another property.† Other than selling my home what other options am I looking at that you know of?

Shahhere

rated:
Got a GFE from the broker (through zillow) showing zero origination fees after credit but the same GFE from the lender shows a $7k net origination fee.
Spoke to the broker and was told that they would be crediting me the $7k origination fee.
I asked for the revised GFE from the lender showing the credit but was told by the broker "they cannot issue such a GFE.† The remainder of the credit is coming from us as your mortgage broker.† I will send you the final settlement statement a few days before the closing so you can review it."

What is your advice on what I should do? Is this a normal practice?

rated:
ngkpg said:   Are most lenders ok with only 10% downpayment? I'm planning on getting an 80/10/10 mortgage (10% 2nd loan, 10% down) and I'm wondering (in general) if the mortgage options are limited with 10% down vs. 20% down. This is in CA, household income is 150K, credit scores 740+, looking to buy 600K-625K home.


I just closed a refi 80/10/10 with penfed. 2.5% on a 5/5, and a heloc 2nd. They even gave me a 2.99% 12 month promotional on the heloc, which I didn't even know about until after closing.

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mansa said:   Got a GFE from the broker (through zillow) showing zero origination fees after credit but the same GFE from the lender shows a $7k net origination fee.
Spoke to the broker and was told that they would be crediting me the $7k origination fee.
I asked for the revised GFE from the lender showing the credit but was told by the broker "they cannot issue such a GFE.† The remainder of the credit is coming from us as your mortgage broker.† I will send you the final settlement statement a few days before the closing so you can review it."

What is your advice on what I should do? Is this a normal practice?


Wouldn't worry about it at this point. You'll get final numbers prior to closing.

rated:
shahhere said:   Guys:† I am looking to add my parents to my mortgage as they live and contribute to my home but then also want to remove my name so that I can buy another property.† Other than selling my home what other options am I looking at that you know of?

Shahhere


You cannot add or remove names from a mortgage. You may be able to work something where they are put on the title, and then they could refi in just their names. Can they qualify without you?

rated:
So I finally signed closing documents with AmeriSave on Saturday morning. I submitted an application a little before April and locked in a rate on April 1st. I'd go weeks without hearing from AmeriSave and by the time we finally finished just on Saturday I'd been handed off to three different processors none of which knew what the previous had been doing. This was just for a pretty standard refi. I chose to go with them after seeing reviews here and that they would cost about $1,000 less in closing costs than another lender I'd been speaking to. Luckily I wasn't in a big rush but it did turn out to be a pretty long, inconvenient wait.

rated:
Any other recommendations for a low-cost refi lender other than Third Federal? I was denied due to being just over their 36% DTI (solely due to child support/alimony, have very little other debt). I'm only planning to be in the house for another year or two, so I don't want to pay high closing costs. The LTV (according to TF's appraisal that they ordered) is 70% and I'm willing to do a variable rate since I'm planning to move in the not too distant future. The property is located in CO and is my primary residence.

The reason for the refi is that I'm stuck paying FHA PMI currently and can't get out of it. Being able to refi would save me a ton, but probably not enough to break even on really high closing costs. Any leads are appreciated -- thanks!

rated:
Farchitect said:   So I finally signed closing documents with AmeriSave on Saturday morning. I submitted an application a little before April and locked in a rate on April 1st. I'd go weeks without hearing from AmeriSave and by the time we finally finished just on Saturday I'd been handed off to three different processors none of which knew what the previous had been doing. This was just for a pretty standard refi. I chose to go with them after seeing reviews here and that they would cost about $1,000 less in closing costs than another lender I'd been speaking to. Luckily I wasn't in a big rush but it did turn out to be a pretty long, inconvenient wait.
† This appears to be a common complaint with AmeriSave: that they are very slow. Did they deliver the mortgage with the same terms that you locked in April? I think Mortgage rates have increased a bit since April 1st - so I'm just wondering if there was any problem getting the promised rate?

rated:
shahhere said:   Look at Provident.com as thats where I am seeing the best rebate points....

Many of the places I used for the rate comparisons have either closed shop or merged with other companies and have become not so competitive......I am looking to refinance again so I can update the thread and if you guys know of good online places feel free to PM me.

Shahhere

When I check out Provident I'm seeing higher than what shows on Zillow mortgage rates. †Also, Provident says that 80% LTV is outside their parameters for a jumbo loan - it looks like they will only loan up to 74% LTV.

I've seen people say they use GuaranteedRate.com or LendingTree as well, but I haven't checked into those yet. †Zillow mtg already shows great rates.

Why do you prefer rebate points?

rated:
livedog said:   
Farchitect said:   So I finally signed closing documents with AmeriSave on Saturday morning. I submitted an application a little before April and locked in a rate on April 1st. I'd go weeks without hearing from AmeriSave and by the time we finally finished just on Saturday I'd been handed off to three different processors none of which knew what the previous had been doing. This was just for a pretty standard refi. I chose to go with them after seeing reviews here and that they would cost about $1,000 less in closing costs than another lender I'd been speaking to. Luckily I wasn't in a big rush but it did turn out to be a pretty long, inconvenient wait.
† This appears to be a common complaint with AmeriSave: that they are very slow. Did they deliver the mortgage with the same terms that you locked in April? I think Mortgage rates have increased a bit since April 1st - so I'm just wondering if there was any problem getting the promised rate?


They extended my rate lock three times. They also requested three payoff amounts from my mortgage requesting an expedited fax from them each time for $30 a pop that wound up on my account. They wound up paying for it once I noticed and complained.

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