Search found 20 matches

by bogledude23
Thu Feb 04, 2021 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

I'm 4 days to close on my refi with Interactive. I have to admit I was hesitant at first because I'd never gone with an online lender like this before. But after reading this Megathread I jumped in and I have no regrets. The notary who came to my workplace (I've always had to travel to the title co...
by bogledude23
Fri Jan 22, 2021 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

Update: So Better's Closing Expert just called and told me that their "Lock Desk" flagged my refi because it's within 6 months of my last refi with them. So now they are going to push closing (which was supposed to be tomorrow) to mid-Feb. He checked with his manager and confirmed. Anyone...
by bogledude23
Fri Jan 22, 2021 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

My update on a 30 yr in CA, loan amount ~258k, FICO>800, Home value 460k -12/22 LE from WaterMark 2.605 A+B+C-credits (no appraisal) = -$368 -12/22 Better offered 2.625 A+B+C-credits (appraisal listed) = -$568 (ended up locking rate) I checked with ~10 other lenders/brokers including LenderFi, Loan...
by bogledude23
Fri Jan 22, 2021 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

My update on a 30 yr in CA, loan amount ~258k, FICO>800, Home value 460k -12/22 LE from WaterMark 2.605 A+B+C-credits (no appraisal) = -$368 -12/22 Better offered 2.625 A+B+C-credits (appraisal listed) = -$568 (ended up locking rate) I checked with ~10 other lenders/brokers including LenderFi, Loan...
by bogledude23
Fri Jan 22, 2021 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

Hey Brandon, would you mind doing a summary post of all 4 of your refis? I'm interested to read your journey :) I would search your posts but you have waaaay too many haha Sure. What would like to know? Two and three were the big ones, but one and four weren’t bad either. Maybe a progression from y...
by bogledude23
Fri Jan 22, 2021 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

Some good resources and a rough step-by-step process (we can edit as necessary and maybe make a sticky post): -Monitor the market at http://www.mortgagenewsdaily.com/ -Compare different loan options, use refi calculators at Mortgage Professor: https://www.mtgprofessor.com/ext/partners/ShopYourLoan.a...
by bogledude23
Fri Jan 22, 2021 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

As a datapoint for others, Better collected $550 from me as an appraisal deposit to lock my rate. I knew no appraisal would be needed and, sure enough, it was waived. This morning I got my closing disclosures and this evening there was an additional document with a credit card receipt for a $550 re...
by bogledude23
Fri Jan 22, 2021 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

Wow, my local broker responded to my email letting him know that I received a 2.625 rate offer with the following: "I reviewed the docs and the cost for to me to match is $4,700 which I cannot match. I would have to write a check to close your loan and I am not willing to do so…". Quoting...
by bogledude23
Fri Jan 22, 2021 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

My update on a 30 yr in CA, loan amount ~258k, FICO>800, Home value 460k -12/22 LE from WaterMark 2.605 A+B+C-credits (no appraisal) = -$368 -12/22 Better offered 2.625 A+B+C-credits (appraisal listed) = -$568 (ended up locking rate) I checked with ~10 other lenders/brokers including LenderFi, Loan ...
by bogledude23
Wed Jan 06, 2021 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

Well first off I was dealing with a "Licensed Lending Officer" at LD so that is a good start, and I dealt with the same one through out. I was upfront that I was still shopping and would continue to shop even after I locked (and even through funding). He was expecting and even encouraged ...
by bogledude23
Wed Jan 06, 2021 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

Well first off I was dealing with a "Licensed Lending Officer" at LD so that is a good start, and I dealt with the same one through out. I was upfront that I was still shopping and would continue to shop even after I locked (and even through funding). He was expecting and even encouraged ...
by bogledude23
Wed Jan 06, 2021 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

Curious, when you're getting LD and Better to match, are you dealing with the same loan officer? Are they giving you any pushback? I know Better is more chill regarding getting multiple LEs to match but my experience with LD was like pulling teeth just getting them to beat a competitor's LE once le...
by bogledude23
Wed Jan 06, 2021 12:02 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

I finally closed with LD. There was a nearly 5 week delay as the file was assigned to a Processing "supervisor" instead of an actual processor so it sat in his workflow the whole time without anyone working on it. Anyway after they figured that out it all went pretty quick Location: NC Pr...
by bogledude23
Thu Dec 24, 2020 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

Adding another DP: -Refi'd with Better ~July, took advantage of AMEX offer. Went to 2.875 30-yr 262k loan in N. California (net profit). -Rec'd email from CFBank about year-end "significant decrease" in pricing to meet annual goals. Was disappointed by their offer. -Since I pulled credit ...
by bogledude23
Thu Dec 24, 2020 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

Adding another DP: -Refi'd with Better ~July, took advantage of AMEX offer. Went to 2.875 30-yr 262k loan in N. California (net profit). -Rec'd email from CFBank about year-end "significant decrease" in pricing to meet annual goals. Was disappointed by their offer. -Since I pulled credit w...
by bogledude23
Tue Jul 07, 2020 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

the LD guys just responded that he'll try to get his VP approve another 1900 to make it true no cost refi. I think I'll just go for it. Let's not be the perfect the enemy of good :greedy Good for you :mrgreen: You now have a bird in your hand, but I'd still look for two in the bush. No-lose situati...
by bogledude23
Tue Jul 07, 2020 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

I'm just starting the process and have what might be a dumb question. My first application is with LenderFi. They pulled credit and gave conditional approval. Do I need to provide all the necessary documentation (pay stubs, W2's, etc.) first in order to get an actual Lender Estimate? No :) You prov...
by bogledude23
Tue Jul 07, 2020 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

Which is standard. The main thing is whether this offer is considerably better than the other offers you've received (I hope you did your comparison shopping). If there have been other similar offers, you can justify not locking. But if this is the clear best offer, go ahead and lock. But still be o...
by bogledude23
Tue Jul 07, 2020 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

frugalNY, You can break a rate lock, it's not the end of the world. You can even cancel the loan up to 3 business days AFTER you sign all closing documents (https://www.consumerfinance.gov/ask-cfpb/can-i-change-my-mind-after-i-sign-the-loan-closing-documents-for-my-second-mortgage-or-refinance-what-...
by bogledude23
Tue Jul 07, 2020 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10200
Views: 731806

Re: Refinance Mega Thread

frugalNY, The best way to negotiate is to have a Loan Estimate from another lender. If you just go to LD and say "Can you increase the credits?" they have no incentive to do so because chances are you will go with them regardless whether they increase the credits. But if you say "You ...