Dubguy85 Posted January 2, 2013 Report Share Posted January 2, 2013 I have refinanced once in ohio with Bank of America but I'm looking for a private firm.. Anyone know anyone who owns or works for one and won't try and rape me?My cousin owns one in Indiana and he always tells me where they are trying to screw me and such, but I don't want a ton of hassle especially since its not my primary home and its a state away.. Just want an easy no cost refi... Should be pretty simple.. Current rate on that condo is like 5.4 I'm looking for anything under 4 but am not paying fees. Quote Link to comment Share on other sites More sharing options...
shittygsxr Posted January 2, 2013 Report Share Posted January 2, 2013 I have refinanced once in ohio with Bank of America but I'm looking for a private firm.. Anyone know anyone who owns or works for one and won't try and rape me?My cousin owns one in Indiana and he always tells me where they are trying to screw me and such, but I don't want a ton of hassle especially since its not my primary home and its a state away.. Just want an easy no cost refi... Should be pretty simple.. Current rate on that condo is like 5.4 I'm looking for anything under 4 but am not paying fees.Check third federal they are usually the best for mortgages Quote Link to comment Share on other sites More sharing options...
madcat6183 Posted January 2, 2013 Report Share Posted January 2, 2013 Or call your current lender and ask about the HARP, being in OH, your best, and almost only option for a true "free" loan, is with your current lender. Most others will simply say it's a free loan, but including the fees in the new mortgage amount, or possibly give you a higher rate to cover the fees with premium pricing, or basically negative points/credits on the HUD1. They just won't tell you this, when in reality you could get up to 1.00% lower rate, paying the costs up front, over the life of the loan. This would end up saving a ton of coin in about 5+ years, vs taking premium pricing/credits for a higher rate. Issue is people want "free" refinances from lenders that simply can't do it.Best start is always with the current lender, especially with the current programs. Then shop around. Quote Link to comment Share on other sites More sharing options...
Dubguy85 Posted January 2, 2013 Author Report Share Posted January 2, 2013 Or call your current lender and ask about the HARP, being in OH, your best, and almost only option for a true "free" loan, is with your current lender. Most others will simply say it's a free loan, but including the fees in the new mortgage amount, or possibly give you a higher rate to cover the fees with premium pricing, or basically negative points/credits on the HUD1. They just won't tell you this, when in reality you could get up to 1.00% lower rate, paying the costs up front, over the life of the loan. This would end up saving a ton of coin in about 5+ years, vs taking premium pricing/credits for a higher rate. Issue is people want "free" refinances from lenders that simply can't do it.Best start is always with the current lender, especially with the current programs. Then shop around.Thanks john. I'm not looking for the "lowest" rate because I'm hoping to only own this another 1-4 years.. So free is what I'm looking for or it's not worth it.. I'll check with my lender then shop. Quote Link to comment Share on other sites More sharing options...
madcat6183 Posted January 2, 2013 Report Share Posted January 2, 2013 No worries, yeah if your lender won't do it, basically be up front with them and say, 100 other places will, and you'll lose this loan in about a week. Done and done. Quote Link to comment Share on other sites More sharing options...
Revelstoker Posted January 2, 2013 Report Share Posted January 2, 2013 Easy and NO cost, hmm. Not likely but I will subscribe to see what you turn up.My last 3 mortgages and 2 refis have been with Wells Fargo. After shopping around, I found them to be the most competitive on rates and cost.Staying with your current lender should be the first avenue but I would shop around first before talking with your lender. At least you will know what other options you have before striking a deal.I do know a local Dayton guy with a private mortgage company but the last time I talked with him, he wasn't taking on new mortgages due to the backlog they have to process. He may be looking to fill his 2013 funnel. I will update if I find anything positive. Quote Link to comment Share on other sites More sharing options...
Casper Posted January 2, 2013 Report Share Posted January 2, 2013 I'll PM you my guy's contact info. Good buddy of mine. Refi'd my house, and I think Max Power's also. Quote Link to comment Share on other sites More sharing options...
rusty Posted January 2, 2013 Report Share Posted January 2, 2013 Pm sent Quote Link to comment Share on other sites More sharing options...
Dubguy85 Posted January 2, 2013 Author Report Share Posted January 2, 2013 Thank you both.. I think the biggest issue is that I have two places and all my equity is in my Indiana home..My ohio loan is FHA and apparently refinancing an FHA rental property isn't an easy one.. I tried HARP but Freddie or Fannie don't own my loan.. I'll try both reccomendations but might be SOL. Quote Link to comment Share on other sites More sharing options...
max power Posted January 2, 2013 Report Share Posted January 2, 2013 I'll PM you my guy's contact info. Good buddy of mine. Refi'd my house, and I think Max Power's also.Yes. But it wasn't free. Cost $400 out of pocket, but was well worth it. Took 10 years off my loan and the payment went down. Went from 61/4% to 3 1/2. Quote Link to comment Share on other sites More sharing options...
Dubguy85 Posted January 3, 2013 Author Report Share Posted January 3, 2013 yes. But it wasn't free. Cost $400 out of pocket, but was well worth it. Took 10 years off my loan and the payment went down. Went from 61/4% to 3 1/2.nice! Quote Link to comment Share on other sites More sharing options...
Helmutt Posted January 3, 2013 Report Share Posted January 3, 2013 Yes. But it wasn't free. Cost $400 out of pocket, but was well worth it. Took 10 years off my loan and the payment went down. Went from 61/4% to 3 1/2.Damn! Thats a major point drop. Can you PM me the info? Quote Link to comment Share on other sites More sharing options...
o-no-moto Posted January 3, 2013 Report Share Posted January 3, 2013 u gonna refi you bike. Quote Link to comment Share on other sites More sharing options...
Gump Posted January 3, 2013 Report Share Posted January 3, 2013 A friend who works at Huntington said their refinance rates are 2.74. Quote Link to comment Share on other sites More sharing options...
dustinsn3485 Posted January 3, 2013 Report Share Posted January 3, 2013 I hope I'm not stepping on OP's toes, but this brings up a question I have...I've considered a refi on my house in Ohio. However, its technically rental property. What little research I've done, it seems like I'm stuck with the loan as it is since I don't reside at the house. Can I still do a refi without turning it into a commercial mortgage? Sent via mobile Quote Link to comment Share on other sites More sharing options...
Helmutt Posted January 3, 2013 Report Share Posted January 3, 2013 u gonna refi you bike.No way, that bitch be paid in full this year! Quote Link to comment Share on other sites More sharing options...
Dubguy85 Posted January 3, 2013 Author Report Share Posted January 3, 2013 I hope I'm not stepping on OP's toes, but this brings up a question I have...I've considered a refi on my house in Ohio. However, its technically rental property. What little research I've done, it seems like I'm stuck with the loan as it is since I don't reside at the house. Can I still do a refi without turning it into a commercial mortgage? Sent via mobileNot stepping on toes at all.. You can refi but it's a little more difficult. Do you have conventional or fha? who owns the mortgage? Freddie Mac or Fannie Mae? You might have some options but since mine in Ohio is FHA I'm a little screwed, but COULD do it but wouldn't be a normal refi as if I lived there.. Best would be to call and ask your options. Quote Link to comment Share on other sites More sharing options...
dustinsn3485 Posted January 3, 2013 Report Share Posted January 3, 2013 Mine is conventional, through Chase.Sent via mobile Quote Link to comment Share on other sites More sharing options...
jdonn Posted January 3, 2013 Report Share Posted January 3, 2013 I just purchased at 3.25% over 30 years.... nothing down (VA). USAA (if your a vet or the child of a vet) is awesome... just saying.... Quote Link to comment Share on other sites More sharing options...
max power Posted January 3, 2013 Report Share Posted January 3, 2013 Damn! Thats a major point drop. Can you PM me the info?It's at 2 3/4% for 15yr now. I don't have the info on me as I am at work. Maybe Casper can get it to you. It's US Savings bank. Dudes name is Marc Stock. Quote Link to comment Share on other sites More sharing options...
madcat6183 Posted January 3, 2013 Report Share Posted January 3, 2013 Not stepping on toes at all.. You can refi but it's a little more difficult. Do you have conventional or fha? who owns the mortgage? Freddie Mac or Fannie Mae? You might have some options but since mine in Ohio is FHA I'm a little screwed, but COULD do it but wouldn't be a normal refi as if I lived there.. Best would be to call and ask your options.can always ask me for info too if you need any, NOT Dubguy he and I chatted, anyone else can too. PMs are best so I can answer when home. Quote Link to comment Share on other sites More sharing options...
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