Can anyone recommend a lender for the state of Maryland? I bought a new construction property in 2014 and now looking to refi. I am currently in a 30yr fixed with 4.125 and already paid about 14 months into it. I am looking to refi and maybe cut the term down to 20yrs as I am thinking I can save the interest $$$. Any help would be appreciated.
I'm asking something that might very well have been asked before, but ths i a rather large thread
After a separation I'm looking to buy a cheap house and fix it up while I live in it, then resell.
Property I have in mind is about 27.5K; what are some decent options for purchase with improvement loans, similar to a FHA 203K loan? If I read it correct, a 203K loan requires the work to be done by a licensed contractor, and while I am Handy, I'm not a contractor
Zillow Mortgage is still the best place I've seen to compare rates - but GuaranteedRate isn't on there and sometimes people find them best. Zillow stopped publishing the sort by total cost over X years option which was very useful though. Sorting by monthly payment is the closest you get, or just sort by rate and compare against those that are charging fees.
Guys.. any recent experience with Zillow mortgage lenders - Sebonic/Aurora. What are the other options out there provident and aim loan is all i know. Pls share your exp/suggestions, ooking for a refi. Thanks.
Checkout Citi bank mortgage. They have some great rates plus $1,000 zillow mortgage credit (Go through Zillow). You can also get premium rate (0.125 % discount in rate)if you bank with citi bank (e.g. 50K deposit in checking/savings or IRA etc.) or your property is in area where premium rate is available. Fico should be 650+ to get best rate. I already have an approval and process was fast and efficient. You just need to pay$2.50 (credit pull) to lock the rate and then you have 60 days to finish the process.
I had initially worked with Sebonic but then decided to go with Citi due to better rates, they are ok and have competitive rates. The only interesting thing that happened is when I gave my credit card number for rate lock, next day , I saw some un-authorized charges and had to cancel the card. After speaking with their department, I think it was just co-incidence.
I have a question : I have 30 year fixed @ 4.65%. I bought house in 2007 @ 6% & after 3 years refi for 30 yrs @ 4.65%. so i am into my 9th year in mortgage. I am thinking for to go for 15/20/30 years fixed. what would be wise to go with 30/20 or 15 year fixed ? house value is 400k and payoff right now is 265k .
We just closed with Aurora this week, found them via zillow too. This was a refi. I've done a lot of those, and this one went fine.
They did run about 38 days, but rates haven't changed much since we locked and they had pointed out their policy of no cost extensions if the delays were on their end. Their underwriters had a couple of strange hangups - wanted revisions or extensions to the appraisal regarding comps. I haven't looked closely at the differences, I know the first looked like a decent set of comps and the appraised value didn't change. And at appraised value, LTV was under 60%, and our price per square foot was (a little) lower than any comp sold in 2015. So it seemed like there was ample slack to not have to worry about any issues, but this wasn't a hardship for us. Then they got some incorrect payoff info about a heloc and had a little delay arranging for a payoff statement from them. I pinged them a few times to find out about the status/schedule, but was not trying to pressure them. Another week or two of delay would have been fine for us too as long as we got the terms we locked.
Finally, there were a few issues with the closing HUD, but I'm used to that. They did get it to us 24 hours ahead of close, so we took care of the big issue ahead of time. Then there was a misunderstanding about handling our title & deed that created some delay and hustling during the close itself. These both may have been due to the title company, which I chose. But Aurora folks were very responsive in sorting it out, so even if there were mistakes on their part (and they at least could have identified these problems earlier), they did a good job resolving them.
So no real complaints, I'd work with them again if the opportunity comes up.
Is now a good time to lock rates (in general)? I'm getting a purchase mortgage and I'm going with the preferred lender to get some closing credits and to ensure that we close in time. I noticed that recent rates are slightly lower (.1%) compared to most of the last 30 days. My crystal ball is not working right now but I figured someone will have better and longer (meaning beyond 30 days) insight on mortgage rates. Thanks.
We locked last week on a 15 year refi at 2.875%. I went back and forth and finally decided to lock it. I'm a big poker player and one of the mantras is "Losing a big pot always hurts more then enjoyment you get from winning a big pot". So I know I would feel worse if the rate went up prior to close.
HowdyDew said: We locked last week on a 15 year refi at 2.875%. I went back and forth and finally decided to lock it. I'm a big poker player and one of the mantras is "Losing a big pot always hurts more then enjoyment you get from winning a big pot". So I know I would feel worse if the rate went up prior to close.
Mind sharing the company? I'm in a 15-year at 3.25%. I didn't think rates would get any lower...
HowdyDew said: We locked last week on a 15 year refi at 2.875%. I went back and forth and finally decided to lock it. I'm a big poker player and one of the mantras is "Losing a big pot always hurts more then enjoyment you get from winning a big pot". So I know I would feel worse if the rate went up prior to close. With who? Was it a no cost?
I just closed on a second/vacation home purchase for which I got an 80%LTV 2.75% 15-year mortgage from eLend (found them on Zillow marketplace). Basically no lender costs, with a $425 lender rebate thrown in (which basically covered the originally estimated appraisal fee which was the only APR fee). I lucked out and managed to lock on August 24th - the day of China's "Black Monday", which I haven't seen mortgage rates get as low since. The lender was east-coast based and seemed confused about customs over here in Washington state, but it all worked out well in the end. They did delay closing a bit, as a result of having issues with the appraisal formatting and apparently needing it to be reformatted a couple times. But I can't fault them for that because they did accommodate my request to find a lower-cost appraiser than the one they initially proposed (vacation home is in a remote area - cost more then normal to appraise, apparently). The small bit of delay was OK because there were some title issues that needed a bit of extra time to work out anyway. It seems we managed to just barely close before expiration of the 45 day rate lock. Decent communications; would do business with again and recommend to a friend who is OK doing business with someone they can't readily visit in person. Checked out the local banks, credits unions, etc - eLend blew them out of the water; not even close. Seem significantly lower than other Zillow marketplace lenders too, except for one that might have even had a better rate, AND was local, but wouldn't do a 2nd/vacation home.
ncube2 said: Guys.. any recent experience with Zillow mortgage lenders - Sebonic/Aurora. What are the other options out there provident and aim loan is all i know. Pls share your exp/suggestions, ooking for a refi. Thanks.
I'm near the end with Sebonic as well. It's been so-so, had the best rate but services is mixed. Every little part of the transaction seems to be handled by a separate person and department. So you don't really know who you have to go to. I've been stuck on back-and-forth with someone about underwriting documentation - they are requesting really stupid stuff (like they are more concerned about where I lived 2 years ago than my financial position).
I'm getting near closing but can't get a straight answer if we are on track - it seems to me like we are running behind with these minor documentation issues. I will be screwed if they don't complete it in time.
In Summary - if they are offering the best rate I would likely use them again (unless they screw me here in the next week or so). If they are close to another, I might give another lender a try.
btw - somehow Sebonic turned into Cardinal Financial when I actually did the loan app. They were doing business as both names, so I'm not sure if Sebonic forks it out to someone else, or why they have 2 different names.
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