3.0 for 15 year mortgage

[Hessian]

Working on a 15 year cash out lock in because my equity line will expire in a few years and I want the decent rates offered now.

Problem,...Bank of America (BoA) will be attaching all the closing costs--over 3000.00 (unlike when they first did the Home Equity) Settlement is about 90 days away.

Who has found any better deals in SoMd either with a Bank/Lending firm that won't sack us with thousands in closing and create a bunch of hoops to jump through?
*Exc Credit rating
*No addl mortgage
*Have addl collateral if desired
*NO other monthly payments/debts.

I'd rather NOT wait to go over the financial cliff and then loans become impossible.

 

[somdfunguy]

Have you tried Quicken?

 

[StadEMS3]

is it FHA or VA? A good friend of mine (we're both retired AF) does painless refi's. He has done all my refi's and saved me a lot of money on both my houses.

 

[blazinlow89]

Have you tried Quicken?

The absolute worst company to deal with. When we first started looking for a house we tried lendingtree and got put in touch with Quicken. They approved us for a good amount, interest rate was high and they did not want to work with us on alot of things. We switched to 1st Mariner when we got serious with a realtor and even after telling the people from quicken we are not interested they would keep calling. Even when we talked to them about our options we asked about USDA RD loans and the guy said they are impossible to get approved for after March, and all of this other BS. Not only did 1st Mariner get us in under the USDA loan, my uncle recently purchased a house with the same program, in October.

Sorry but quicken loans seemed more like a bunch of scam artist.

 

[Hessian]

Yeah....300 messages later...

The absolute worst company to deal with. When we first started looking for a house we tried lendingtree and got put in touch with Quicken. They approved us for a good amount, interest rate was high and they did not want to work with us on alot of things. We switched to 1st Mariner when we got serious with a realtor and even after telling the people from quicken we are not interested they would keep calling. Even when we talked to them about our options we asked about USDA RD loans and the guy said they are impossible to get approved for after March, and all of this other BS. Not only did 1st Mariner get us in under the USDA loan, my uncle recently purchased a house with the same program, in October.

Sorry but quicken loans seemed more like a bunch of scam artist.

I just wanted to know their rates,...left my ph #...a VERY stupid idea. They threw my # out to a variety of lenders who wanted my SS# before telling me a thing. Sorry: That is not on the table. I wonder if Ric Edelman has some suggestions...

 

[somdfunguy]

I've used quicken with no issues and so have some co-workers. We call the number from our EAP website though. Maybe they treat you differently there.

 

[Hessian]

You know, I could be mistaken here...

I've used quicken with no issues and so have some co-workers. We call the number from our EAP website though. Maybe they treat you differently there.

My recollection may be fuzzy,....did I post on Lending Tree=multi salespeople hit within minutes?? Very possible. I KNOW I did look at Quicken,...even called I think.


*****************************************
Anyone here ever use Monarch Mortgage? (Waldorf office)

 

[ProfMoneyWise]

Working on a 15 year cash out lock in because my equity line will expire in a few years and I want the decent rates offered now.

Problem,...Bank of America (BoA) will be attaching all the closing costs--over 3000.00 (unlike when they first did the Home Equity) Settlement is about 90 days away.

Who has found any better deals in SoMd either with a Bank/Lending firm that won't sack us with thousands in closing and create a bunch of hoops to jump through?
*Exc Credit rating
*No addl mortgage
*Have addl collateral if desired
*NO other monthly payments/debts.

I'd rather NOT wait to go over the financial cliff and then loans become impossible.

Mortgage Loans, Refinance | Churchill Mortgage

Give this group a try. You really don't care where your lender is located as you do your re-buy of your home.

Also shop it with an independent mortgage broker. One not tied to a specific money product (i.e. company).

The least number of hoops is a streamline re-buy with your current lender as a lot of the paperwork is already done/known.

Challenge all costs and any generated by the money-seller are negotiable. Keep that in mind.

I'm not totally sure what you are looking for (i.e. 15yr cash out re-fi on a HELOC) as I'm referring to a 15yr fixed mortgage on your home. HELOC's are HELL-OCs in my opinion and borrowing on equity is not something I recommend. But I took a stab at the answer so take it for how it was intended.

 

[StadEMS3]

The absolute worst company to deal with. When we first started looking for a house we tried lendingtree and got put in touch with Quicken. They approved us for a good amount, interest rate was high and they did not want to work with us on alot of things. We switched to 1st Mariner when we got serious with a realtor and even after telling the people from quicken we are not interested they would keep calling. Even when we talked to them about our options we asked about USDA RD loans and the guy said they are impossible to get approved for after March, and all of this other BS. Not only did 1st Mariner get us in under the USDA loan, my uncle recently purchased a house with the same program, in October.

Sorry but quicken loans seemed more like a bunch of scam artist.

1st Mariner is where my friend works as a Sr Loan Officer. He took care of me several times. The loans roll right over to Wells Fargo and I can't complian about that, great service from them too.

 

[Dakota]

I've used quicken with no issues and so have some co-workers. We call the number from our EAP website though. Maybe they treat you differently there.

Lending Tree might be what they are thinking of... OMG, that is how I ended up in Countrywide HELL!!! And eventually with BoFA. I've now gotten out of all that and went with Quicken - very pleasant - no issues - fantastic rate and barely any fees.

Quicken has been wonderful to deal with... It all depends in what you want. I was okay doing online business and after PMing back and forth with the thread starter, he would like a local, sit down and sign situation.

 

[blazinlow89]

1st Mariner is where my friend works as a Sr Loan Officer. He took care of me several times. The loans roll right over to Wells Fargo and I can't complian about that, great service from them too.

Jeff Gay???

Our loan rolled over to BB&T which has been awesome to deal with. My only complaint which seems to be an issue with different loan companies, is that they cannot automatically setup bi-weekly payments. Best thing I did with my car loan. They recommended a 3rd party company and that may be what I do.

 

[StadEMS3]

Jeff Gay???

Our loan rolled over to BB&T which has been awesome to deal with. My only complaint which seems to be an issue with different loan companies, is that they cannot automatically setup bi-weekly payments. Best thing I did with my car loan. They recommended a 3rd party company and that may be what I do.

Yup, we go WAY back to the Air Force days at Andrews.

 

[blazinlow89]

Yup, we go WAY back to the Air Force days at Andrews.

LOL, you probably know my step dad then. He talked about the Andrews days when we came in, found he used to work with my step dad. Really good guy to deal with and loan process was almost stress free, minus a few minor hickups here and there.

 

[ProfMoneyWise]

Jeff Gay???

Our loan rolled over to BB&T which has been awesome to deal with. My only complaint which seems to be an issue with different loan companies, is that they cannot automatically setup bi-weekly payments. Best thing I did with my car loan. They recommended a 3rd party company and that may be what I do.

Don't pay a fee to do what you can do yourself.

Divide your payment by 12 and send in that amount as extra principal each month or just save up 1/12th each month and send that in once a year.

It equates to approximately 8 years of a reduction on a 30 year mortgage.

Look into a 15yr fixed and do a re-buy at a very low rate. You may find the cost to do so to you per month as far as a payment goes may be very doable and close to the same amount you are looking at with adding the 1/12th payment.

Good thinking either way. Owning where you eat and sleep is liberating.

 

[meddauna]

My recollection may be fuzzy,....did I post on Lending Tree=multi salespeople hit within minutes?? Very possible. I KNOW I did look at Quicken,...even called I think.


*****************************************
Anyone here ever use Monarch Mortgage? (Waldorf office)

I used monarch mortgage when i bought my house 1.5yr ago. Specifically Don Rosier. I don's have any complaints. Don sat down with me for several hours going over every bit of paper work and made sure i understood everything. Not your typical sign here and leave deal. While looking for a house, my realtor would call him and he would get up from dinner with his family to get onto his computer to help me out and put out an offer. Perhaps this is typical of these kinds of places, but i enjoyed working with them.

 

[tommyjo]

Don't pay a fee to do what you can do yourself.

Divide your payment by 12 and send in that amount as extra principal each month or just save up 1/12th each month and send that in once a year.

It equates to approximately 8 years of a reduction on a 30 year mortgage.

Look into a 15yr fixed and do a re-buy at a very low rate. You may find the cost to do so to you per month as far as a payment goes may be very doable and close to the same amount you are looking at with adding the 1/12th payment.

Good thinking either way. Owning where you eat and sleep is liberating.

Paying off a mortgage early is dumb. Anyone with an ounce of economic or financial training will tell you that. Those that advocate shorter term mortgages or early playoffs simply do not understand very basic principals of money.

 

[Baja28]

Paying off a mortgage early is dumb. Anyone with an ounce of economic or financial training will tell you that. Those that advocate shorter term mortgages or early playoffs simply do not understand very basic principals of money.

This post shows how stupid you really are.

 

[blazinlow89]

Don't pay a fee to do what you can do yourself.

Divide your payment by 12 and send in that amount as extra principal each month or just save up 1/12th each month and send that in once a year.

It equates to approximately 8 years of a reduction on a 30 year mortgage.

Look into a 15yr fixed and do a re-buy at a very low rate. You may find the cost to do so to you per month as far as a payment goes may be very doable and close to the same amount you are looking at with adding the 1/12th payment.

Good thinking either way. Owning where you eat and sleep is liberating.

The plan I am considering should get me paid down quickly. I want to do bi-weekly payments which will net one extra payment a year on its own. The second part would be like you describe and to pay an extra $50 a payment.

My monthly payment is 1399, $230,000 loan with a 3.75% interest rate. It will be easier to pay extra after the wedding and I pay my truck off.

 

[ProfMoneyWise]

The plan I am considering should get me paid down quickly. I want to do bi-weekly payments which will net one extra payment a year on its own. The second part would be like you describe and to pay an extra $50 a payment.

My monthly payment is 1399, $230,000 loan with a 3.75% interest rate. It will be easier to pay extra after the wedding and I pay my truck off.

You and your spouse read The Total Money Makeover by Dave Ramsey. Walk those steps together and you will continue to benefit from your already good thinking.

 

[ProfMoneyWise]

Paying off a mortgage early is dumb. Anyone with an ounce of economic or financial training will tell you that. Those that advocate shorter term mortgages or early playoffs simply do not understand very basic principals of money.

Guilty on all and happy in my lack of understanding.