Author Topic: How low can we go? 30 yr fixed at 3.75% with no fees...  (Read 708157 times)

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Offline IrvineRealtor

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #60 on: February 03, 2012, 12:38:23 PM »
So how easy is it to refi with Provident?

I've been getting calls from my current lender (Wells) to refi (we just refi'ed last at the end of 2010) and I'm wondering if it's easier to go with my current lender or switching.

There are (at least) two different Providents out there... which one are you talking about?
Neither has been good, but one has been downright evil, from my experience.

I'd recommend giving Spiderpig a call.

A plug from a recent assist that he helped with:
He performed very well to salvage a short sale buyer's deal, on an extremely short time window, and in spite of Snoopy's designs to pull the rug out from under him while we were in the middle of our transaction. 

The home was in very good condition and the buyer got the home at a $70K discount (relative to another identical floorplan that closed ~one month previously) due in large part to John's ability to get it done.

-IrvineRealtor
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Offline zovall

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #61 on: February 03, 2012, 01:54:25 PM »
So how easy is it to refi with Provident?

I've been getting calls from my current lender (Wells) to refi (we just refi'ed last at the end of 2010) and I'm wondering if it's easier to go with my current lender or switching.

I had a positive experience with Provident.  I refi'd earlier last year and then Provident became my new lender.  Then in Dec, I took the opportunity to refi again (3.875% zero cost) and I did it all through Provident's website (www.provident.com).  The process wasn't too bad at all.  Their website told me exactly what the status of my loan application was and what documentation they were waiting for.  They are real sticklers with documentation (the notaries both times mentioned that to me).  It may have been easier when I refi'd this time since they were my current lender at the time.  Their rates have been some of the best I've seen.  I wouldn't hesitate to refi again with them. 

I'd also recommend contacting SGIP and at least one more lender.  It is always a good idea to get quotes from a few places before making any decisions.

Disclosure: I have no relationship with Provident other than that they debit my bank account each month for my mortgage payment.  I am in the process of working with SGIP and the company he works for, Intercap Lending,  to become sponsors of IHB/TI.


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Offline irvinehomeowner

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Offline Panda

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #63 on: February 03, 2012, 06:08:58 PM »
Anyone here successfully re-fi with 3.75% no fees for a 30 yr fixed? I am assuming that lenders are being more careful.
« Last Edit: February 08, 2012, 08:10:13 AM by Panda »
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Direct: (678) 865-6250
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Offline ps9

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #64 on: February 04, 2012, 08:59:17 AM »
I used provident as well for my mortgage... they do service their own loans.. impounds are required but can be dissolved after 2 months of payment, this was what the broker told me and it was true.. just have to fax over to them in writing to cancel escrow account...

Their website is a bit clumsy, not as streamline as citi nor bofa (i.e. setting up auto debit is under the "Forms" tab, huh?)

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Offline TSW

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #65 on: February 04, 2012, 11:36:00 PM »
I recently worked with Provident on my condo in Woodbury East and the experience was mixed.  Their offer is above average.  The process is streamlined and the agent is responsive (although less motivated but I have no problem with that considering they are low cost).

But finally it did not go through becasue of some odd fineprints.  Basically, they require the condo project to be 100% built out and the HOA passed control to home owners.  That says, if you are in those new IVC communities like Woodbury, Woodbury East, etc., you don't have to waste time with Provident.

I am looking for another loan agent.  Would be great if you have any recommendations.
« Last Edit: February 05, 2012, 12:04:56 AM by TSW »

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Offline USCTrojanCPA

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #66 on: February 04, 2012, 11:45:32 PM »
I recently worked with Provident on my condo in Woodbury East and the experience was mixed.  Their offer is above average.  The process is streamlined and the agent is responsive (although less motivated but I have no problem with that considering they are lost cost).

But finally it did not go through becasue of some odd fineprints.  Basically, they require the condo project to be 100% built out and the HOA passed control to home owners.  That says, if you are in those new IVC communities like Woodbury, Woodbury East, etc., you don't have to waste time with Provident.

I am looking for another loan agent.  Would be great if you have any recommendations.

One of my buyers ran into the same issue trying to refi his Woodbury condo built by The New Home Company going with Amerisave.  So it's not a lender specific thing.
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Offline rkp

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #67 on: February 05, 2012, 11:07:05 AM »
wouldnt a smart builder already have this taken care of by partnering with a few lenders?

Offline TSW

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #68 on: February 05, 2012, 10:33:20 PM »
I recently worked with Provident on my condo in Woodbury East and the experience was mixed.  Their offer is above average.  The process is streamlined and the agent is responsive (although less motivated but I have no problem with that considering they are low cost).

But finally it did not go through becasue of some odd fineprints.  Basically, they require the condo project to be 100% built out and the HOA passed control to home owners.  That says, if you are in those new IVC communities like Woodbury, Woodbury East, etc., you don't have to waste time with Provident.

I am looking for another loan agent.  Would be great if you have any recommendations.

One of my buyers ran into the same issue trying to refi his Woodbury condo built by The New Home Company going with Amerisave.  So it's not a lender specific thing.

Is there anybody in WB/WBE got approved for refinancing recently?  If so, who is the lender?

Offline LAtoOC

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Offline Compressed-Village

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #70 on: February 07, 2012, 10:06:36 PM »
I have a rate quote from Provident for 15 years @ 3.25 with credit of $1900 toward closing cost, so out of pocket only 500 dollars. I thought that this is was a pretty good deal. When I locked in my rate my paper work then get forward to a loan officer. The usual paper requested. W2 for two years, 1 month worth of pay stubs and banking and investment portfolios are requested. I have been refi before and this is my 6 times. This time Provident requested form Signed Tax Form 4506-T, Request for Copy of Transcript of Tax Form. This will essentially allow the lender to pull your tax return for the last 3 years or more. Every deduction and lines items on your tax can be view by an unknown and uncontrollable numbers of people.

I felt really uncomfortable with this. None of my previous refi in the past has ever ask for this type of document before. And my last refi was 15 months ago.

Does anyone here when refi have to sign and agree to form 4506-T with Provident or other lenders.

Please respond if you refi recently.

Thanks

Offline zovall

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #71 on: February 08, 2012, 07:02:20 AM »
Does anyone here when refi have to sign and agree to form 4506-T with Provident or other lenders.

I just finished a refi with Provident a couple weeks ago and we also had to sign form 4506-T. 

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Offline Panda

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #72 on: February 08, 2012, 07:14:03 AM »
Irvinebullhousing,

I am going through a re-finance now and i had to sign it too.

I have a rate quote from Provident for 15 years @ 3.25 with credit of $1900 toward closing cost, so out of pocket only 500 dollars. I thought that this is was a pretty good deal. When I locked in my rate my paper work then get forward to a loan officer. The usual paper requested. W2 for two years, 1 month worth of pay stubs and banking and investment portfolios are requested. I have been refi before and this is my 6 times. This time Provident requested form Signed Tax Form 4506-T, Request for Copy of Transcript of Tax Form. This will essentially allow the lender to pull your tax return for the last 3 years or more. Every deduction and lines items on your tax can be view by an unknown and uncontrollable numbers of people.

I felt really uncomfortable with this. None of my previous refi in the past has ever ask for this type of document before. And my last refi was 15 months ago.

Does anyone here when refi have to sign and agree to form 4506-T with Provident or other lenders.

Please respond if you refi recently.

Thanks

« Last Edit: February 08, 2012, 07:57:13 AM by Panda »
James Park, MBA
Investment Real Estate Broker
CalBRE# 01894781, NMLS License # 1572291
Direct: (678) 865-6250
Email: jpark@johnscreekrealtypartners.com

http://www.biggerpockets.com/users/Panda
http://www.johnscreekrealtypartners.com

Offline ps9

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #73 on: February 08, 2012, 07:52:22 AM »
What can they do with your old tax returns?  They already have all your info... what would you try to protect?  They are protecting their money and being conservative... better this route then the previous stated income.. you know what happened with that

Offline Homer_Simpson

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #74 on: February 08, 2012, 08:34:14 AM »
My cousin refi'd last Friday 2.875% 15 Years, forgot to ask if he paid any points but I'm really thinking he didn't. 
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