Author Topic: How low can we go? 30 yr fixed at 3.75% with no fees...  (Read 545447 times)

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Offline Irvinehomeseeker

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2535 on: August 08, 2020, 03:34:46 PM »
I think they have temporarily stopped taking new applications. There was a backdoor link posted earlier in this thread a 2-3 days back.

I used this below link to see rates and apply, but now it comes up with no results. So I suspect they are working to catch up

https://app.lenderfi.com/partner/C8AX0T65/search?type=refinance&campaign=organic

Offline Dr. CA Real Estate

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2536 on: August 08, 2020, 04:54:36 PM »
Just had a client use Interactive cash-out refi At 2.75 to buy an investment home
Kris Mendoza
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Offline ChiKid24

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2537 on: August 09, 2020, 03:04:52 PM »
How do you apply with LenderFi because there website has nothing?  Do you have to call?

Martin, I posted a back door link to their website that avoids going through the home page and gets you straight to an application. If you apply with your information, they'll contact you within 1-3 days...at least that was my experience. Here is a link you can use....and no I'm not getting paid a fee for this ;)

https://app.lenderfi.com/

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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 #2538 on: August 09, 2020, 08:19:12 PM »
How do you apply with LenderFi because there website has nothing?  Do you have to call?

Martin, I posted a back door link to their website that avoids going through the home page and gets you straight to an application. If you apply with your information, they'll contact you within 1-3 days...at least that was my experience. Here is a link you can use....and no I'm not getting paid a fee for this ;)

https://app.lenderfi.com/

Sounds good, I submitted my application online through that link.  Let's see if they finance self employed folks like me.
Martin Mania, CPA
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Often imitated....Never duplicated!

Offline Cares

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2539 on: August 10, 2020, 04:42:07 AM »
How do you apply with LenderFi because there website has nothing?  Do you have to call?

Martin, I posted a back door link to their website that avoids going through the home page and gets you straight to an application. If you apply with your information, they'll contact you within 1-3 days...at least that was my experience. Here is a link you can use....and no I'm not getting paid a fee for this ;)

https://app.lenderfi.com/

Sounds good, I submitted my application online through that link.  Let's see if they finance self employed folks like me.

We can do self employed as long as you can show 2 years tax returns.

Offline USCTrojanCPA

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2540 on: August 10, 2020, 03:10:27 PM »
How do you apply with LenderFi because there website has nothing?  Do you have to call?

Martin, I posted a back door link to their website that avoids going through the home page and gets you straight to an application. If you apply with your information, they'll contact you within 1-3 days...at least that was my experience. Here is a link you can use....and no I'm not getting paid a fee for this ;)

https://app.lenderfi.com/

Sounds good, I submitted my application online through that link.  Let's see if they finance self employed folks like me.

We can do self employed as long as you can show 2 years tax returns.

Those refi shops are should lazy asses, they don't want to touch me because I'm self employed and have rentals.  haha

PM me your refi rate for a Tustin Ranch Home for a $765,600 loan under 60% LTV and a Aliso Viejo detached condo rental for a loan of $286k under 50% LTV with no closing costs.
Martin Mania, CPA
AgencyOne
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CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline Compressed-Village

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2541 on: August 10, 2020, 03:56:43 PM »
How do you apply with LenderFi because there website has nothing?  Do you have to call?

Martin, I posted a back door link to their website that avoids going through the home page and gets you straight to an application. If you apply with your information, they'll contact you within 1-3 days...at least that was my experience. Here is a link you can use....and no I'm not getting paid a fee for this ;)

https://app.lenderfi.com/

Sounds good, I submitted my application online through that link.  Let's see if they finance self employed folks like me.

We can do self employed as long as you can show 2 years tax returns.

Those refi shops are should lazy asses, they don't want to touch me because I'm self employed and have rentals.  haha

PM me your refi rate for a Tustin Ranch Home for a $765,600 loan under 60% LTV and a Aliso Viejo detached condo rental for a loan of $286k under 50% LTV with no closing costs.

I don’t get it, the self employed individuals, in my opinion are the least risky individuals when they able to show profits and loss on their financials matters and able to do well. In other words, self employed are in business for themselves and able to reaps most of the deductions rewards allowed.

Employees are losers when it comes to deductions and write off, because it is very limited. And corporate right size mean that employees are going to get boots. While the self employed can get a nice PPP, even without employees.

So these lenders are also behind the curves.

Offline USCTrojanCPA

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2542 on: August 10, 2020, 10:07:27 PM »
How do you apply with LenderFi because there website has nothing?  Do you have to call?

Martin, I posted a back door link to their website that avoids going through the home page and gets you straight to an application. If you apply with your information, they'll contact you within 1-3 days...at least that was my experience. Here is a link you can use....and no I'm not getting paid a fee for this ;)

https://app.lenderfi.com/

Sounds good, I submitted my application online through that link.  Let's see if they finance self employed folks like me.

We can do self employed as long as you can show 2 years tax returns.

Those refi shops are should lazy asses, they don't want to touch me because I'm self employed and have rentals.  haha

PM me your refi rate for a Tustin Ranch Home for a $765,600 loan under 60% LTV and a Aliso Viejo detached condo rental for a loan of $286k under 50% LTV with no closing costs.

I don’t get it, the self employed individuals, in my opinion are the least risky individuals when they able to show profits and loss on their financials matters and able to do well. In other words, self employed are in business for themselves and able to reaps most of the deductions rewards allowed.

Employees are losers when it comes to deductions and write off, because it is very limited. And corporate right size mean that employees are going to get boots. While the self employed can get a nice PPP, even without employees.

So these lenders are also behind the curves.

Owning and LenferFi told me that I should reach out to a direct lender/big bank because my situation is too "complex" for them.  Because it's so hard to look at my net income on my Schedule C and net rental income on my Schedule E. haha
Martin Mania, CPA
AgencyOne
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CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline qwerty

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2543 on: August 10, 2020, 10:34:02 PM »
Once the website for lenderfi comes back up take a screenshot of the details section of the quote, which looks like a quoted estimate, then you can email it bofa and bofa will match it.

Offline Soylent Green Is People

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2544 on: August 11, 2020, 05:50:55 AM »
As of March of this year BofA no longer price matches. Not sure about the other Biggie's (Wells Chase Citi) but I'd assume that's the case for them as well. The origination, manufacturing, and servicing of a sub 3% Agency Conforming loan is for the most part a loser.

Right now if you're self employed or have multiple rental properties, a smaller "concierge" lender can do the job. The rate won't be rock bottom, but will be less than the big Banks Agency rates.

My .02c
My .02c

SGIP

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Offline akkord

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2545 on: August 11, 2020, 07:04:59 AM »
Chase was able to match Owning's rate at 2.625, but with $600 closing costs, never checked with them on the 2.5 rate.
Owning is willing to match my Lenderfi rate of 2.5, and pay me $250 to go with them, but won't waive the appraisal which is a dealbreaker for us right now.

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2546 on: August 11, 2020, 07:44:30 AM »
To clarify: Without a full application and a credit report NO LENDER can commit to an appraisal waiver. The Waiver is based only on an AUS run that fires an underwriting exception for an appraisal requirement.

If a loan officer says "Imma gonna waive your appraisal because I like you."  and they haven't yet run credit and completed the application, they are not telling you the truth.

My .02c
My .02c

SGIP

Offline Cares

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2547 on: August 11, 2020, 09:07:16 AM »
To clarify: Without a full application and a credit report NO LENDER can commit to an appraisal waiver. The Waiver is based only on an AUS run that fires an underwriting exception for an appraisal requirement.

If a loan officer says "Imma gonna waive your appraisal because I like you."  and they haven't yet run credit and completed the application, they are not telling you the truth.

My .02c

Yep this is correct. There is no way to know if you got a PIW unless your application was received and ran through the automated underwriting system.

Offline ChiKid24

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Offline Cares

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2549 on: August 11, 2020, 03:45:47 PM »
Any lenders on here working with the new UWM program? 30-year at 1.99%. Just WOW!

https://www.housingwire.com/articles/uwm-announces-1-99-rate-for-30-year-fixed-mortgage/#:~:text=United%20Wholesale%20Mortgage%20announced%20Tuesday,company%20said%20in%20a%20statement.

It is available to my company but it is not at no cost. It's about 2.5-3 points to buy down. You have to had never done a loan with UWM for 18 months and the max rate lock is 22 days.

It isn't really for everyone. It is an option for people who feel like rates will never reach sub 2 again and won't look to refinance again ever during their homeownership.

Edit: https://www.housingwire.com/articles/uwm-1-99-30-year-mortgage-rate-comes-with-a-catch/
« Last Edit: August 11, 2020, 04:10:39 PM by Cares »

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