07/26/2021 - Best Mortgage Rates from Big & Reputable Lenders and SD Reviews (30year @ 2.75%, 15year @ 2.25% etc)

So if I'm in the middle of a refi, should I just tell them to stop the process, and reapply in a couple weeks?
How should we use the FHFA delay to our advantage?

That's a good perspective, I can ask Better.com but I have a feeling if the appraisal is waved I wouldn't be surprised if my lender credits dropped lol...

My lender credits for Loan Cabin should be closer to 3K based on the initial chart I got from Bob even though it shows $1907 on the Loan Estimate. Which I pointed out in my email to them.

I also spoke to Loan Depot this morning, they were checking what rates they could give me when their "system crashed", they're supposed to call me later today to follow-up. I did tell them I had other Loan Estimates on the table as well...

So if I'm in the middle of a refi, should I just tell them to stop the process, and reapply in a couple weeks?
How should we use the FHFA delay to our advantage?

Hi new here. I got a cashout refi rate from Owning for 2.65% at 1.5 points. Cashout is $110K, does this sound reasonable? Other lenders couldn't even get close to 2.65% for cashout.

Hi, If this helps, I got a cashout refi rate of 2.625% with 0 points and $444 credit from better. Property is based in utah and loan amount is 510k

Hi, If this helps, I got a cashout refi rate of 2.625% with 0 points and $444 credit from better. Property is based in utah and loan amount is 510k

Thanks! Does it matter where the property is located at? This is in California. I'll have to apply at Better, that's a much better rate. 1.5% at $510 is $7500

Quote from mchrid : Hi there, Just realized that I didn't mention that the rate was for 20 year fixed.If your quote is for 30 yr fixed, may be it's not too bad. better.com quote was 3% with 0 points and no credit for 30 yr fixed. I was able to check out their rate on zillow without completing the application.

NervousClover7482Thanks! Does it matter where the property is located at? This is in California. I'll have to apply at Better, that's a much better rate. 1.5% at $510 is $7500

Thanks! Does it matter where the property is located at? This is in California. I'll have to apply at Better, that's a much better rate. 1.5% at $510 is $7500

Need some assistance possibly finding a better deal - Home Equity or HELOC.

Wife and I have a good handle on our finances and credit scores are over 760 for both of us.. We have 5 loans:

Loan.. - Term - Rate.. - Orig Bal.. - Cur Bal.. - Payment
House - 30y. - 3.85% - $124,000 - $112,400 - $583 P&I
Pool... - 10y. - 7.99% - ..$54,000 - ..$37,130 - $603
Solar.. - 20y. - 4.99% - ..$34,000 - ..$28,010 - $162
Car 1.. - 6y.. - 1.80% - ..$30,605 - ..$10,810 - $432
Car 2.. - 6y.. - 3.99% - ..$18,561 - ....$6,364 - $293

We have credit cards, but pay them off each month. Only use them for rewards/cash back.

Our financial plan has been in action for the last year where all the above loans will be paid off in just under 6 years. Total current Balance - $194,714. Total interest to be paid with plan - $24,485.49. I'm saving over $54,000 in interest.

With the lower interest rates this year, I've looked into doing a refi. I could potentially save another $7k-$9k in interest if I combine the house, pool, and solar at 3.25% or even lower. However, the closing costs and points associated with a refi will nullify the interest savings. Not to mention the increase in property taxes on the new appraisal. If I planned on running the loan over 25-30 years, it would make more sense, but my payoff is still the same 68-70 months. Interest is so low that I don't get any write off benefit on my taxes, so I'd rather get the house paid off and save on the interest.

So now I'm looking at an Equity Loan. The credit union I have one of my cars with sent me a notice of 5-year 4.25% no cost Equity loan. Quick appraisal came back at $159k which meant I only had $14k I could take out. Knowing that appraisal was way off, I paid $475 for a full appraisal which came back at $245k (much better with comparable home sales in the area over the last 4-5 months). Now I can do an equity loan up to $83k.

I will be combining the Pool and Solar to lower their interest rates, and getting about $4,500 cash for a needed storage shed. Both cars have 22 payments left and low balance and interest rates. Interest savings will be about $2,200 (minus the $475 for the full appraisal). Still decent and anything substantial saved is good. I could possibly get denied if they want to ponder the debt to income ratio. It will look skewed because I'm taking a 10 year pool loan and 20 year solar loan and combining into a shorter 5 year, lower interest loan which makes the difference of the existing $765 payments on the 2 loans vs the new $1297 payment on the Equity loan. I've been paying $1,450 to the pool loan for the past 8 months so we have the money. That plus the $300 i've been putting to the solar loan, we'll be paying $1,750 to this EL and in 22 months will go to $2,550/mo.

With the lower rates on new mortgate and refi's, I am looking for anything lower than 4.25%.I see PNC with 3.75% and some other Advert links to info farming (broker) sites that boast 2.4% Home Equity loan rates. I don't want the run-around, the up front lies, the points on the back end, or extra money layout. Cut and dry, simple EL or HELOC lower than 4.25 with no costs.

Any help is appreciated. Even looking at what I have and redirecting my ideas if I'm missing something.

Need some assistance possibly finding a better deal - Home Equity or HELOC.

Wife and I have a good handle on our finances and credit scores are over 760 for both of us.. We have 5 loans:

Loan.. - Term - Rate.. - Orig Bal.. - Cur Bal.. - Payment
House - 30y. - 3.85% - $124,000 - $112,400 - $583 P&I
Pool... - 10y. - 7.99% - ..$54,000 - ..$37,130 - $603
Solar.. - 20y. - 4.99% - ..$34,000 - ..$28,010 - $162
Car 1.. - 6y.. - 1.80% - ..$30,605 - ..$10,810 - $432
Car 2.. - 6y.. - 3.99% - ..$18,561 - ....$6,364 - $293

We have credit cards, but pay them off each month. Only use them for rewards/cash back.

Our financial plan has been in action for the last year where all the above loans will be paid off in just under 6 years. Total current Balance - $194,714. Total interest to be paid with plan - $24,485.49. I'm saving over $54,000 in interest.

With the lower interest rates this year, I've looked into doing a refi. I could potentially save another $7k-$9k in interest if I combine the house, pool, and solar at 3.25% or even lower. However, the closing costs and points associated with a refi will nullify the interest savings. Not to mention the increase in property taxes on the new appraisal. If I planned on running the loan over 25-30 years, it would make more sense, but my payoff is still the same 68-70 months. Interest is so low that I don't get any write off benefit on my taxes, so I'd rather get the house paid off and save on the interest.

So now I'm looking at an Equity Loan. The credit union I have one of my cars with sent me a notice of 5-year 4.25% no cost Equity loan. Quick appraisal came back at $159k which meant I only had $14k I could take out. Knowing that appraisal was way off, I paid $475 for a full appraisal which came back at $245k (much better with comparable home sales in the area over the last 4-5 months). Now I can do an equity loan up to $83k.

I will be combining the Pool and Solar to lower their interest rates, and getting about $4,500 cash for a needed storage shed. Both cars have 22 payments left and low balance and interest rates. Interest savings will be about $2,200 (minus the $475 for the full appraisal). Still decent and anything substantial saved is good. I could possibly get denied if they want to ponder the debt to income ratio. It will look skewed because I'm taking a 10 year pool loan and 20 year solar loan and combining into a shorter 5 year, lower interest loan which makes the difference of the existing $765 payments on the 2 loans vs the new $1297 payment on the Equity loan. I've been paying $1,450 to the pool loan for the past 8 months so we have the money. That plus the $300 i've been putting to the solar loan, we'll be paying $1,750 to this EL and in 22 months will go to $2,550/mo.

With the lower rates on new mortgate and refi's, I am looking for anything lower than 4.25%.I see PNC with 3.75% and some other Advert links to info farming (broker) sites that boast 2.4% Home Equity loan rates. I don't want the run-around, the up front lies, the points on the back end, or extra money layout. Cut and dry, simple EL or HELOC lower than 4.25 with no costs.

Any help is appreciated. Even looking at what I have and redirecting my ideas if I'm missing something.

your appraisal used for mortgage loan/refinance does not impact your property tax. They are not forwarded to your township/county.

https://homeguides.sfgate.com/pro...49545.html

i know you stated you inquired about cash-out refi but you didn't provide any numbers.
Can you give us some insight so we can see which lenders you spoke with and what you were getting quoted?

The following analysis is assuming you can get a 15-year cash-out refi @ 3.25% at no cost for $155k to cover your house, pool, and storage shed. I'm not sure you can cash-out 80% ltv otherwise you should do that which might help with your rate.

your current situation - i can't get your exact numbers

loan	term	rate	orig amount	cur balance	payment	remaining interest	comments
house + fillertext	30y	3.85%	$124,000	$112,400	$583 p&i	~$63,500
pool	10y	7.99%	$54,000	$37,130	$603	~$10,000	10yr 54k loan @ 7.99 is 654.88/month. Not sure how your payment is $603.
Solar	20y	4.99%	$34,000	$28,010	$162	~$11,500	20yr 34k loan @ 4.99 is 224.20/month. Not sure how your payment is $162.
Car 1	6y	1.80%	$30,605	$10,810	$432	~$200	same comment as above, i get 448.75/month based on your #'s.
Car 2	6y	3.99%	$18,561	$6,364	$293	~$250	same comment as above, i get 290.31/month.
Total	n/a	n/a	$261,166	$194,714	$2,073	~$85,450	really rough due to #'s not matching above.

if you can cash-out refi at 3.25% for no-cost, you can then consolidate your house & pool loan into 1 payment. Then take the equity loan to reduce the interest on your solar loan. Without knowing your prepay plan and just keeping numbers strictly as is, this is what i see.

new situation

loan	term	rate	orig amount	cur balance	payment	remaining interest	comments
house/pool/shed	15y	3.25%	$155,000	$155,000	$1,089.14	~$41,044.59	you save ~$32,000 in interest (over previous home/pool loan)
solar	5y	4.25%	$28,010	$28,010	$506.42	~$2,375.25	you save ~$9,000 in interest
car 1	6y	1 80%	$30,605	$10,810	$432	~$200	same comment as above, i get 448.75/month based on your #'s.
Car 2	6y	3 99%	$18,561	$6,364	$293	~$250	same comment as above, i get 290.31/month.
Total	n/a	n/a	$232,176	$200,184	$2,320.56	~$43,869.84	estimates since i can't match your numbers

if something similar is feasible, your monthly payments go up about $250 but you save over $40,000 in interest.

Granted, i'm not sure if your equity loan would still be possible if you did a refinance at the same time (maybe your equity loan rate would be slightly worse).

In theory if you wanted, you could even increase your refi cash-out and pay off your 2nd car loan. Won't save you much but it's 1 less payment.