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george

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About george

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  • Birthday 05/11/1968

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  1. Couple of questions/advice related to previous post.  I'm trying to move from a 30 year fixed at 3.625 with 22 years left.  Bought for 340K.  Currently valued at 400K. owe 225K.  credit score 800+.  Good incomes, job security.

    So, I ended up applying for a refinace of my mortgage at my credit union.  The website stated that the rate would be 2.75 for 15 year.  Talked to the mortgage supervisor and she confirmed it.  Sent her all my information which she sent to CUMA to process.   The CUMA person came back with 3.265 for 15 years and indicated that it was the best they could do because of some fee they charge the credit union to process it (no mention of that on website).  However, CUMA guy said if the credit union held my refinance, it should be at a much lower rate.  He reported that there was no reason they shouldn't do so based on my application.   

    When I went back to the credit union mortgage supervisor, she said they didn't hold any of their Fixed rate mortgages.  I sent her an email indicating that I was disappointed and felt that if they didn't hold any of their fixed rate mortgages, it was misleading to quote rates that the CUMA would not meet due to fees not listed on website.  She responded:  

    George,

    I sent this to CUMA to their supervisor to ask for some help in this. but what I am willing to do is honor your rate of 2.75% and do the loan inhouse at 15 Year fixed limited cash out.  

    Please let me know if you would like to move forward with me.

    Kind regards,

    Patty

    My questions:

    1.  Is a 15 Year fixed limited cash out the same as a 15 year refinance mortgage?

    2.  If it's a home equity loan, I'd still probably proceed and apply it to my original mortgage and have it recast.  Does that make sense?

    3.  Anything I should ask or have her clarify when I respond?

    Thanks,
    george

     

  2. Attempted to refinance with Chase on Friday. Currently 8 years in on a 30 year mortgage at 3.625. 55% LTV balance. Credit score over 800. Fees/points they wanted were way too much to move forward on refinance. $6000-$12000 😬. Guess I’ll wait and retry in a month or so.
  3. https://www.moneyguy.com/ Message these guys for thoughts/advice. The founder has a special needs daughter and speaks about this topic on occasion as part of the podcast. May also find stuff in the archives on his site that is helpful. Even if they don't offer what you need, they may be able to help.
  4. My son's last 2 girlfriends, Azure and Char-Leigh.
  5. Today's quote on new purchase in PA: 3.5 for 3/4 point 3.625 for 1/4 point 3.75 with 1/4 pt rebate 3.875 with 5/8 point back Now to decide which to take.... Any of you mortgage guys have a guess or feeling like rates will drop in the morning?
  6. I have been working with Huntington as well, would it be possible if you could you PM the name of the person you are dealing with?same here pleasePM sent. Slight correction on the rate. It was 3.75 with no points.
  7. From what bank?2, neither are internet banks. 1. Huntington Bank which is my brick and mortar bank which is cutting their rate 1/8 for direct debit of payment 2. Howard Hanna Mortgage services. The house is listed with Howard Hanna real estate and their agent is handling the purchase.I'm waiting for a good faith estimate of closing costs from each to decide who to go with.
  8. 3.625 for 30 year fixed rate today with no points. I'm tempted to lock it in, but something about the possibility of 3.5 is keeping me from doing it. Anyone in the industry think that it dips to 3.5 this week?
  9. Quoted 3.75 today on a 30 year mortgage with 1/4 point REBATE toward closing.
  10. savingforcollege.com is pretty much recognized as the resource for college savings. Should have all the info you need there.
  11. She's definitely moving up the list...
  12. It's Friday. Have something to look forward to tomorrow cause I'm not doing any work on the last day before a 2 week vacation
  13. But most importantly, cute girl laying facedown on the hamstring machine, how'd her hammies look?
  14. I've been subscribing (mostly) to the Dan Solin books for smart investing. http://smartestinvestmentbook.com/
  15. The Soap Opera Now the soap opera becomes a tragedy.