How low can we go? 30 yr fixed at 3.75% with no fees...
- Thread starter ps99472
- Start date
Soylent Green Is People said:
The ?trigger event? is when your lender receives a loan payoff request - happened to me when I received a ?mortgage rate reduction? letter from Chase. Not sure how your existing lender would even know about a credit pull not pulled by them. The reduction certainly didn?t qualify as ?impossible to match?.
For all those who mention I got a ?quote? for a particular rate - I?m more interested in hearing from people who actually applied, the application requirements, and what was the official rate on the loan estimate. Quotes are merely marketing rates you probably won?t get. Let?s present rates that most of us have a high probability of actually getting and the details for actual loans and not quotes.
DrTravel said:
Those data points are the definitely the most useful. And they can change daily.
The lowest I've seen is 2.5% for 30 year, no cost, high conforming via LenderFi:
akkord received that quote yesterday:https://www.talkirvine.com/index.php/topic,2184.msg368152.html#msg368152
AW said today they can confirm the same at ~55% LTV:https://www.talkirvine.com/index.php/topic,2184.msg368204.html#msg368204
Owning.com posts yesterday showed 2.625% for 30 year, no cost, high confirming, under 50% LTV from Navigatn, AW, akkord:
Navigatn: If you want a 2.625% 30 yr fixed free loan with owning, LTV must be 50% or less. 51- 75% LTV, it's goes up to 2.875% no cost.
AW: when i called, it was 2.625 for ltv <= 50, 2.75 for 51-60, 2.875 for 61-70... etc...
akkord: My brother got 2.5 for just over 50% LTV for conforming, I got 2.625 for high conforming < 50% LTV with owning.
My brother's 2.5 rate is probably gone with Owning unless you locked with them, their LP called him and said it's going up to 2.625, lock now and he ok'd it, I believe Owning upp'd their rate to 2.625 for conforming a couple days ago on their website, but I haven't been keeping up since I'm moving forward with Lenderfi at 2.5. I'll see how it looks again towards the end of the year.
Some notes:
Owning will do floatdowns if their rates go down prior to close even if you locked, and you can't refi with Owning again for 1 year unless you get approval (you can refi with others)
Lenderfi you can't refi for 6 months with anyone or they'll try and clawback closing costs, I don't know if they will or won't...haven't heard either way directly
Lenderfi will refi you for free in 6months if rates are down .25% in perpetuity, believe they'll check in every 6 months, not 6/7/8 etc.
From what I heard from another member that has used both, Owning was a better experience than Lenderfi, but YMMV.
That's all I got and if anyone wants a local lender in Irvine, PM me, she has good rates if you are <50% LTV, she matched my Owning offer, but she hasn't been able to give a couple referrals the same rates probably due to their circumstances being different.
Some notes:
Owning will do floatdowns if their rates go down prior to close even if you locked, and you can't refi with Owning again for 1 year unless you get approval (you can refi with others)
Lenderfi you can't refi for 6 months with anyone or they'll try and clawback closing costs, I don't know if they will or won't...haven't heard either way directly
Lenderfi will refi you for free in 6months if rates are down .25% in perpetuity, believe they'll check in every 6 months, not 6/7/8 etc.
From what I heard from another member that has used both, Owning was a better experience than Lenderfi, but YMMV.
That's all I got and if anyone wants a local lender in Irvine, PM me, she has good rates if you are <50% LTV, she matched my Owning offer, but she hasn't been able to give a couple referrals the same rates probably due to their circumstances being different.
sgip
Well-known member
Servicing lenders will know you are refinancing in one of three ways:
1) Servicers buy credit "trigger" leads. If you have a loan with Wells Fargo and BofA runs your credit, that inquiry data is sold, and sold, and sold again to anyone willing to buy it. That's why you get calls and mailers when you refi from other companies.
2) Your loan servicer is going to get a payoff demand from your future loan provider. By then your refi is almost a "done deal" but there will still be time for your current lender to "Make you an offer you can't refuse".
3) Paying company A for an appraisal of your home? That banking account or credit card run is another signal your refinancing.
Post closing of course since the recording of your deed is a public event, you'll still get offers to re-re-refi.
Bear in mind - privacy is an illusion - which is why you can count on offers coming at you from all directions when you refi.
My .02c
1) Servicers buy credit "trigger" leads. If you have a loan with Wells Fargo and BofA runs your credit, that inquiry data is sold, and sold, and sold again to anyone willing to buy it. That's why you get calls and mailers when you refi from other companies.
2) Your loan servicer is going to get a payoff demand from your future loan provider. By then your refi is almost a "done deal" but there will still be time for your current lender to "Make you an offer you can't refuse".
3) Paying company A for an appraisal of your home? That banking account or credit card run is another signal your refinancing.
Post closing of course since the recording of your deed is a public event, you'll still get offers to re-re-refi.
Bear in mind - privacy is an illusion - which is why you can count on offers coming at you from all directions when you refi.
My .02c
Irvinehomeseeker
Active member
I am going with the referral that AW mentioned yesterday for 2.5% on high balance loan. Local lender and he instantly gave me 2.5%. Appreciate the negotiation AW had already done.
Given that's it's a small local lender, I have to see how it goes thru. Looking to see the official E on monday.
Cashcall offered 2.625 no fees for my scenario after some back and forth, but simply couldn't match 2.5% as it was a big pricing difference per the agent.
I have dealt with Owning, Cashcall and interactive in the past - All of them gave me a smooth transaction and closed in 2-3 weeks. Owning even gave me a small credit at closing when rates dropped last year at closing. The processor at owning immediately responded to my queries. Now keeping my fingers crossed on the new lender to hope it goes well.
Appreciate the info and help from members on this thread!!
Will update on Monday when I get the LE.
Given that's it's a small local lender, I have to see how it goes thru. Looking to see the official E on monday.
Cashcall offered 2.625 no fees for my scenario after some back and forth, but simply couldn't match 2.5% as it was a big pricing difference per the agent.
I have dealt with Owning, Cashcall and interactive in the past - All of them gave me a smooth transaction and closed in 2-3 weeks. Owning even gave me a small credit at closing when rates dropped last year at closing. The processor at owning immediately responded to my queries. Now keeping my fingers crossed on the new lender to hope it goes well.
Appreciate the info and help from members on this thread!!
Will update on Monday when I get the LE.
Irvinehomeseeker
Active member
Will do @cares
Also, wanted to mention about LoanDepot - they provide good lender credits (like 2500-2800$) at 2.75 rate if you impound taxes/insurance. This can be used to offset some property taxes due in december. That's how I learnt ppl made some money in their pockets without an actual cash out refi
. If you are someone who wants to see instant gains versus reduction in monthly payment and okay to impound, it may be a good deal.
Also, wanted to mention about LoanDepot - they provide good lender credits (like 2500-2800$) at 2.75 rate if you impound taxes/insurance. This can be used to offset some property taxes due in december. That's how I learnt ppl made some money in their pockets without an actual cash out refi
. If you are someone who wants to see instant gains versus reduction in monthly payment and okay to impound, it may be a good deal.
usctrojancpa
Well-known member
How do you apply with LenderFi because there website has nothing? Do you have to call?
Irvinehomeseeker
Active member
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
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
Dr. CA Real Estate
New member
Just had a client use Interactive cash-out refi At 2.75 to buy an investment home
USCTrojanCPA said:
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/
usctrojancpa
Well-known member
ChiKid24 said:USCTrojanCPA said:
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.
USCTrojanCPA said:ChiKid24 said:USCTrojanCPA said:
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.