Author Topic: How low can we go? 30 yr fixed at 3.75% with no fees...  (Read 708176 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 #3060 on: July 30, 2021, 05:29:23 PM »
Intelliloan is offering 1.875 rate and APR for 15 yr fixed.

Offline woodburyowner

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3061 on: July 30, 2021, 09:33:44 PM »
Locked at Loan Cabin - Conventional, 20 year, 2.375% w/ $6200 lender credit.  No lender fees, just standard refi costs.  Hope I'm not in for a world of hurt again.  My last refi with them took a bit over 6 months and then another 3 weeks after close to fix some paperwork issues.

Offline UrvineLegend

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3062 on: July 30, 2021, 10:30:18 PM »
I'm signing the docs tomorrow. That's 10 days from start to signing. Can't believe how fast this took, compared to the last one.
Anyhow, 1.875% rate/APR, no point, no fee, conventional, 15-year fixed refinance w/ Owning
Well, my current lender is including $230 charge (recording & prep) in the payoff amount, so I guess it's not truly no fee.  But at least Owning is not charging me any fee.

Offline Cares

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3063 on: July 30, 2021, 10:36:00 PM »
I'm signing the docs tomorrow. That's 10 days from start to signing. Can't believe how fast this took, compared to the last one.
Anyhow, 1.875% rate/APR, no point, no fee, conventional, 15-year fixed refinance w/ Owning
Well, my current lender is including $230 charge (recording & prep) in the payoff amount, so I guess it's not truly no fee.  But at least Owning is not charging me any fee.

The $230 fee from your current lender fee will happen for all refinances. You should ask Owning to cover that fee too.

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Offline Oregon Duck

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3064 on: August 02, 2021, 08:49:48 AM »
Anyone work with RedDoor? I'm locked in at 2.25 on a 20 year fixed
$2860 lender credits
-
loan costs for underwriting and other services $2329
Looks like they are working with Quicken as it says Quicken will service the loan and the loan portal is through thatsmymotrgage.com (Quicken)

The only thing I don't like is that load is not assumable. Not a deal breaker really. 

Offline Cares

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3065 on: August 02, 2021, 08:55:20 AM »
Almost all loans are not assumable these days. It means that you cannot just assign the loan to someone else. In the scenario in which you want to sell your house, your buyer cannot just takeover your loan and they have to obtain their own loan.

Offline OCtoSV

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3066 on: August 03, 2021, 12:28:11 PM »
my loan broker up here has confirmed 1.99%, 15 yr fixed, conforming, $500 cost. The 1.875% comes with a $4500 total cost.

Didn't realize conforming has gone up to $822K!

Offline irvinehomeowner

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3067 on: August 03, 2021, 01:24:07 PM »
Need to retitle this thread.

30/3.75% fixed is so 10 years ago. :)
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
FCB: Foreign Cash Buyer
I recommend:
www.irvinerealtorsite.com
member: Soylent Green Is People (loans/refis)

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 #3068 on: August 03, 2021, 02:15:45 PM »
@OCtoSV - $822k depends on the County. LA/OC, yes. Ventura - $739,450, SB/Riverside is $548,250. San Diego comes in at $753,250. Oddly enough, Santa Barbara County is $660,100. That loan limit is about the same as a mobile home in the area.

I saw a change in one of our Jumbo providers that they are now "Tiering" loan to value options within specific counties based on their view of risk. This happened during the Great Recession when lenders refused to go beyond certain loan to values based on how the County was economically fairing. It surprised me to see this sort of preemptive price changes being rolled out by a household name branded lender. If they did this, expect others to follow suit. Price appreciation has been nice, but some banks are perhaps getting cautious.

My .02c

SGIP

Offline OCtoSV

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3069 on: August 03, 2021, 04:05:47 PM »
Thx SGIP. SB County limit is bizarre!

Given my LTV is <70% he used a $999K value to get the appraisal waived - anything over requires a $700 appraisal (3 weeks).

Offline Cares

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3070 on: August 03, 2021, 04:17:59 PM »
Thx SGIP. SB County limit is bizarre!

Given my LTV is <70% he used a $999K value to get the appraisal waived - anything over requires a $700 appraisal (3 weeks).

Yep anything over $1M in value will never get an appraisal waiver.

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Offline Oregon Duck

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3071 on: August 03, 2021, 06:20:14 PM »
Best quotes I got were from RedDoor and BNC Bank. BNC was through Zillow. All the Big Box shops couldn't compete and honestly were a pain in the ass to deal with. Funny thing, it seems RedDoor just a private label for Quicken as all my initial doc signing went then thasmymortgage (quicken).

If you want a great quick quote to then shop around or just lock in the RedDoor app was super fast and easy.

Still holding BNC in back pocket if cost/rates for more. They are 1k more in lender credit but had already locked in really don't want to start all over. Trying to see I can squeeze a bit more credit from RedDoor. Pretty sure they are floating the rate with their secondary as I didn't pay anything to "lock". Unless I am just old now and $400 lock fees are no longer a thing.

Offline Cares

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3072 on: August 03, 2021, 07:34:22 PM »
Best quotes I got were from RedDoor and BNC Bank. BNC was through Zillow. All the Big Box shops couldn't compete and honestly were a pain in the ass to deal with. Funny thing, it seems RedDoor just a private label for Quicken as all my initial doc signing went then thasmymortgage (quicken).

If you want a great quick quote to then shop around or just lock in the RedDoor app was super fast and easy.

Still holding BNC in back pocket if cost/rates for more. They are 1k more in lender credit but had already locked in really don't want to start all over. Trying to see I can squeeze a bit more credit from RedDoor. Pretty sure they are floating the rate with their secondary as I didn't pay anything to "lock". Unless I am just old now and $400 lock fees are no longer a thing.

Retail banks usually cannot compete on conforming loans. They are better at jumbo.

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Offline irvineshadow

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3073 on: August 05, 2021, 07:29:13 PM »
I finally signed with the notary on Monday.  What an ordeal

Offline Cares

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3074 on: August 05, 2021, 08:19:16 PM »
I finally signed with the notary on Monday.  What an ordeal

What was the issue and who did you refi with?

In other news, rates took a pretty hard beat yesterday and today so if you locked in the last few weeks great for you! We had a good 2-3 week window where it was prime to refinance again where we were seeing 2.375% 30 fixed no cost. Rates are up about 0.25% now in just the last few days.

Even Owning adjusted their ads to be 2.625% with cost. I can still do most conforming at 2.625% no cost (depending on full scenario of course).

 

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