woodburyowner
Well-known member
Irvinehomeseeker said:
But there are fees at cashcall. It's best to keep this discussion to rates with lender credit to negate all 3rd party fees.
How low can we go? 30 yr fixed at 3.75% with no fees...
- Thread starter ps99472
- Start date
But there are fees at cashcall. It's best to keep this discussion to rates with lender credit to negate all 3rd party fees.
irvinebullhousing
Well-known member
akkord said:
Owning?
akkord said:
There is a back door way to apply to Lenderfi by avoiding their homepage. Use the link below, fill out the information and they'll call you within 2-3 days to provide you a quote.
https://app.lenderfi.com/app/signup/partner/lenderfi
eyephone said:Is he taking about affiliate link? So when you refi, he makes money?
akkord said:
Lol no affiliate payments for me, though given the number of people I've referred to Lenderfi I should start asking for a cut!!
I signed my closing docs with them yesterday getting 2.75% with lender credit to cover all costs in Sections A, B, C and E of loan estimate. No need to escrow taxes. Loan balance is high conforming ($720k), appraisal waived as he set my property value under $1M (it's worth more than that) since the pricing only needed 75% LTV and I couldn't do much better unless I was under 60% LTV (would have required big paydown). I found their process very straight forward and easy. Everything done online aside from a couple of phone calls. Time from initial application to closing was just under 30 days.
A few things to highlight about them:
1) They provide you their best rate up front and once you lock, they do not offer a float down or adjustment
2) They have you sign a form stating your intent to hold the loan for six months. It says you will need to forfeit the lender credit if you refi before then. For me that's about $1,500.
3) Tied to #2 is their rate insurance program which states that if rates are down 0.25% or more in 6-months and you've made 6 months of on time payments , they will refi you for free at the new lower rate.
In my mind, if rates fall dramatically and I can get another no cost refi done at 2.25% or better before the 6-month expires, then I'd be fine forfeiting the $1,500. That assumes they'll actually come after me for it. My bigger concern though would be upsetting them and potentially not being able to do business with them again. They were no doubt the most competitive offer when I locked and I think there's a good shot I'll be able to redo this loan in 6 months at 2.50% or better.
sgip
Well-known member
I've been hearing lately that once a hard pull on a credit profile is done, the banks have been sending customers "impossible to match" rate reduction offers. Anyone experienced this "Trigger Lead" based marketing? I'm not talking about the letters and phone calls from smaller brokers trying to poach away your deal wherever it might be. This would be an offer from your current loan servicer only.
Also there have been a few whispers out there of a sub 2% 15 year fixed rate refi being offered, however I've not seen a LE/CD or legitimate ad yet for this possibly mythical creature. This isn't a zero fee deal, only very minor costs being charged. If you've seen one of these ads let me know.
My .02c
Also there have been a few whispers out there of a sub 2% 15 year fixed rate refi being offered, however I've not seen a LE/CD or legitimate ad yet for this possibly mythical creature. This isn't a zero fee deal, only very minor costs being charged. If you've seen one of these ads let me know.
My .02c
Soylent Green Is People said:
1. Haven't heard anyone that recently re-financed that got impossible to match offers from their existing mortgage provider. Maybe few did, but not many.
2. Nope. Lowest I have seen is 2.25% 15 year fixed no cost loan. sub 2.0% is not here yet or offered with points and costs.
Soylent Green Is People said:
Loan Cabin's 15-year published rate on their website is 1.99%:https://www.loancabin.com/rates
usctrojancpa
Well-known member
AW said:
With who and what LTV?
Irvinehomeseeker
Active member
Lucky for those who are able to get the 2.5% rate from LenderFi.
I was locked at 2.75 and tried this entire week to see if they can offer me the 2.5 for my scenario but they wouldn't. I will be cancelling LenderFi application and wait for a better rate.
I was locked at 2.75 and tried this entire week to see if they can offer me the 2.5 for my scenario but they wouldn't. I will be cancelling LenderFi application and wait for a better rate.