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Morgage refi.


Johny Utah

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Gotta watch those refi ads on the radio, quicken and first option lending come to mind. They get you a good rate but in return your almost handing them a blank check when it comes to the fees they tack on. Wife and I talked to them and she did mortgages for a living. They were going to add around $15,000 into the loan and were calling that the fee they get for doing it.
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More love for Marc... just finished a 3.5/30yr conventional with him; we must have spent a good 3 hours just playing around with different options like pre-paid versus monthly PMI, payment crediting schedules, that sort of stuff.
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It was bank of America. They just sold if off to someone though. Some company I have never heard of.

 

Yeah, hate selling off loans... Marc's place (usually) keeps them, as does Huntington and FirstMerit.

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^^

 

Probably the same thing as "truckin"

 

Missing letters: The cool thing to do.

 

 

OP: I refinanced through Arlington Bank. Guys name is "Joe Sauk" and from my understanding, he is nationally ranked on mortgage creation and Re-fi.

 

I locked in a 2.85%, 15 year conventional loan on my Re-fi. I actually got a check back at closing for $400 more than what I brought to closing. I literally made money to refinance my house (not really, I understand how it works).

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Gotta watch those refi ads on the radio, quicken and first option lending come to mind. They get you a good rate but in return your almost handing them a blank check when it comes to the fees they tack on. Wife and I talked to them and she did mortgages for a living. They were going to add around $15,000 into the loan and were calling that the fee they get for doing it.

 

I actually got a HARP on one of my rentals through Quicken and they were cheaper than the other HARP banks around

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AngryBMW does mortgage stuff for alt of people on cr.

http://www.columbusracing.com/forums/member.php?u=301

 

Here is a thread he posted a few weeks back giving some info

http://www.columbusracing.com/forums/showthread.php?t=111417

 

You want to call Marc. He just finished mine up, 15 year / 2.75%. Awesome guy to deal with and a CR original member... :cool:

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Thank you, I will be calling Marc when I get a chance.

 

PM'd.

 

Thanks for the love fellas! Ask around, I will do anything I can for fellow CR members.

 

614-339-1206 is my direct line. I work for Union Savings Bank and we do service all conventional mortgages. GreenTree can suck a leaky asshole. :)

 

Thanks!

-Marc

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Quicken is fast, but you can always get a better deal elsewhere.

 

I have also been an LO for a while now, and helped a few on CR. I am not a site sponsor though, so I do not advertise. Rates are SHIT right now, though. May be better than where you are now, but I would give it a month or 2 before you lock an interest rate.

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Rates are SHIT right now, though. May be better than where you are now, but I would give it a month or 2 before you lock an interest rate.

 

I'd politely disagree with the above statement.

 

Rates are still amazing historically; we have simply been spoiled over the past 2.5 years with all time low interest rates. Keep in mind 3 years ago prime was 5%+.

 

http://www.freddiemac.com/pmms/pmms30.htm

 

As the .gov keeps trying to push treasury bonds on the market and they do not get the response they expect, we will continue to see rates rise.

 

http://finance.yahoo.com/blogs/daily-ticker/mortgage-rates-aren-t-going-back-down-fannie-174009047.html?vp=1 (Not the best article...but you get the point)

 

To be honest, I will not be surprised when we are back around 4.5-5% this time next year if not sooner. As consumer confidence increases and we push further into a purchase market we will see rates increase. It is actually a good thing and shows that our economy is strengthening.

 

It is also a good thing for (some) mortgage originators as higher rates will weed out a lot of mortgage hacks. I’m looking forward to being busier than ever :cool:

 

PS – I’m still below 4% for fixed 30yr terms and below 3% for fixed 15yr terms with next to no cost. Refi and purchase business welcome.

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I'd politely disagree with the above statement.

 

Rates are still amazing historically; we have simply been spoiled over the past 2.5 years with all time low interest rates. Keep in mind 3 years ago prime was 5%+.

 

http://www.freddiemac.com/pmms/pmms30.htm

 

As the .gov keeps trying to push treasury bonds on the market and they do not get the response they expect, we will continue to see rates rise.

 

http://finance.yahoo.com/blogs/daily-ticker/mortgage-rates-aren-t-going-back-down-fannie-174009047.html?vp=1 (Not the best article...but you get the point)

 

To be honest, I will not be surprised when we are back around 4.5-5% this time next year if not sooner. As consumer confidence increases and we push further into a purchase market we will see rates increase. It is actually a good thing and shows that our economy is strengthening.

 

It is also a good thing for (some) mortgage originators as higher rates will weed out a lot of mortgage hacks. I’m looking forward to being busier than ever :cool:

 

PS – I’m still below 4% for fixed 30yr terms and below 3% for fixed 15yr terms with next to no cost. Refi and purchase business welcome.

 

I was speaking in comparison to two months ago. I think we will see the 10 year Bond back in the 1.9's again in the next 45 days before things really go south.

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