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

Please clarify are we talking about all items listed under section C on the LE? My cost is $1215 with Better. I actually thought it was pretty low. But maybe I should shop it...

Yes. In my case, section C was originally $1100, and Radian quoted me $900. I agree that $1100-1200 is already pretty good though.

When I reached out to Radian, they got me a quote the same day that I was able to forward to my Better processing expert.

lenderfi- Closing cost $3992 includes $1755 in loan costs +3608 on other costs -1371 in Lender credits...2.875 @30yrs. No appraisal. SO my cost of doing a refi is $3992 will be rolled into the loan of $183k so my loan is gonna be 187k? when its all said and done.. I currently have 4.5% original loan was for 205k started on 8/26/14

how do i know if this is good? Im not well versed in this stuff

Does UWM match other lender LEs?

Edit ... I may be thinking incorrectly. Is UWM for brokers etc? Or can individuals apply for loans with them? I went to website but it is asking me what time of business I am.

Ok we are in underwriting 4 days after initial application from Interactive Mortgage. They are claiming 3 week lead time, we shall see, but so far have been easy to deal with.

2.625 no cost 75% LTV Arizona

They are wholesale not retail. You need to find a broker who works with UWM. My loan is currently being processed by them.

They are wholesale not retail. You need to find a broker who works with UWM. My loan is currently being processed by them.

You don't have to worry too much about refinance fee if you're dealing with UWM as it said it wouldn't add the fee until the end of this month. So hurry up and lock before that.

https://www.housingwire.com/artic...ty-limits/

how do we apply with UWM i dont see anything there?

take your LE from IM to Better and see uf they will mathc it .. better is much easier to deal with

Soooo you are asking for my secret sauce ....BTW just to put some perspective on this thread that my serial-refinancing threads started almost 13+ years back (on FW) and at that time I believe I might be the first one to post the details of what I am doing (I am sure I wasnt the first one to figure out and do the steps but no one else at that time documented it like I did or posted for that matter).



Simple Reasoning: by taking a higher rate I am getting credits/negative points(Cash) upfront against the hedging risk that I'll refinance again and hence get to keep the money before the break-even point after which I'll be paying interest on the mortgage.


Longer Reasoning: Who knows the future, right? I might move (no plans) or sell (no plan) or get a chance to refinance again at a lower rate (cant control this). Simply put its a risk I am taking if the breakeven is out in the future by at least 4-5 years (or more in some cases). I also consider the money not spent by paying points and the money earned by the negative points valuable at the present time and can invest in other higher interest earning options (discipline)



I've refinanced my primary property at least 13 times that I know of (lol) and have taken a higher rate and hence the higher cash/negative points in at least 9+ of those refinances. 100% of those refinances have never made it past the point where I'd have paid more interest on the loan.


I am in the very small minority in general who can to do this and have it down to a science (still learning a lot so dont get me wrong) and so am not phased by the process as its simply following the instructions and collecting the documentation or staying on top of the process to move it along similar to a project manager. Documentation, once you do it once becomes straightforward for the next refinance, especially if its done in a smaller/closer window of the last refinance. Again I'v had a good loan amount and so the % points are higher; have good credit; no or not a lot of other debt; steady job and finally good credit (840ish at times) to just disclose the small minority comment.



Please note that there is no guarantees and that the plan can backfire but I am okay with the risk. If you dont foresee the right plan then you should take the best rate available without paying too many points to acquire the rate as noted above things can change and if you pay $10,000 to refi but the rates tank then you'd have lost that cash. Do note that the rates are the lowest they have ever been so dont anticipate the rates going down to 0 as that wont be sustainable by the economy.


Sharing what I know and learning what you all share helps develop the right deal options out there and creates a bigger and better opportunity to continue doing this until something prevents me/us from doing that. None of what I am doing is illegal to say the least and at best have figured out a process that is not known by many. Last several months have been uncharted waters even for me as I've never done back to back to back refinances within a 2.5 month window but learning as I go.



Shahhere

Look, I applaud you. Banks sell our loans AS SOON AS THEY CAN after the paperwork closes. WHY SHOULDN'T YOU DO THE SAME. (essentially), Fire them, hire some other bank, make money.

Bravo! Seriously! We didn't have the stomach for it, but still used your thread to get information and learn a bit about what everyone else was getting/going through. The help I got from you and others has cut years off my mortgage (even if I am paying for it) and for that I am grateful! GOOD LUCK all you Refi-Flippers! Get some cash and make them work!
Maybe one day I will be more risk tolerant. However, today I am just grateful for what I learned on here and how it lit a fire under me to REFI NOW!
Thank you!

Ok we are in underwriting 4 days after initial application from Interactive Mortgage. They are claiming 3 week lead time, we shall see, but so far have been easy to deal with.

2.625 no cost 75% LTV Arizona

https://findamortgagebroker.com/h...yer/Search [findamortgagebroker.com]

You need to find a broker that works with them. This is the site they put up.

So judging by all the negative data point in this thread, has ANYONE who started in like August CLOSED yet?

I was one of the lucky few who got locked with IM at 2.375% no-cost for a 30-year. The timeline so far has been very impressive:

Thurs 9/10 - Called to get a quote and locked. Received my LE and disclosures via the secure portal shortly afterward.
Fri 9/11 - Uploaded the requested documents (there were surprisingly few docs requested).
Mon 9/14 - Got assigned a loan processor and received a voicemail and email from her to introduce herself. Said she had reviewed my docs and gotten me into underwriting.
Wed 9/16 - Received conditional approval from underwriting. Got a request for 2 more docs, after which she said she could send out initial closing disclosures.

I think I got a really good processor. In my experience, a lot of what happens is based on the luck of who you get. Every company has good and bad LOs, processors, etc.

I am actually looking to slow the process down, because I have an even better offer from Loan Cabin locked, and I was planning to cancel IM if I'm ever able to get an LE from LC. Don't want IM to waste their time on my file if I'm going to cancel.

Also, I've heard that Owning sometimes closes loans before all the underwriting and everything is even totally finished, which occasionally leads to issues. I wonder if IM does the same.

how do we apply with UWM i dont see anything there?