2.75% Mortgage Rates!

BriarcliffMx

BriarcliffMx

PR Founding Father
Just got refie'd again, 15 year fixed at 2.75%. Whats everyone else seeing? If anyone is thinking about it, talk to Pat at Huntington in Newark. Super low rates. Goto briarcliffmx.com and click on the Huntington logo, that goes straight to his page.
 
Doesnt matter, rule of thumb is the anytime you drop a percentage point, your way ahead. Im keeping my old payment, but knocked two years off my loan. I talked to Pat about closing costs, he said it varys depending on the program you chose, but on average the closing costs are around $2500. Which is nothing when you are dropping years off. The banks are getting hungry. Huntington re-fied my dozer already. Dropped it from 5.5 to 4.0%.
 
Might be time to check into this. I think I'm pretty low already, like 4.5%, not sure if it's worth it but I'll check into it.
 
i thought about refi but i dont plan on keeping my house long enough for it to be worth it... march will be 3 years and i can get rid of it. had to hang onto it that long due to me getting the first time home buyer credit.. have to pay it back if you sell w/in 3 years.
 
PitRacer said:
Might be time to check into this. I think I'm pretty low already, like 4.5%, not sure if it's worth it but I'll check into it.
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I think if you drop one 1% point its worth it. Pending how many years you have left, and the amount left. In my boat it was worth it.
 
BriarcliffMx said:
Doesnt matter, rule of thumb is the anytime you drop a percentage point, your way ahead. Im keeping my old payment, but knocked two years off my loan. I talked to Pat about closing costs, he said it varys depending on the program you chose, but on average the closing costs are around $2500. Which is nothing when you are dropping years off. The banks are getting hungry. Huntington re-fied my dozer already. Dropped it from 5.5 to 4.0%.
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If the banks borrow from the Fed at zero percent and loan it out it is all profit anyway regardless of the rate they charge. It is all about risk, will they get repaid. I believe the banks are not loaning because they can put their money into basically risk free instruments and with factoring get a great return with near zero risk. Ever watch The Money Masters movie on YouTube? Long but very well done.
 
PitRacer said:
Might be time to check into this. I think I'm pretty low already, like 4.5%, not sure if it's worth it but I'll check into it.
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Believ it or not PNC has the best deal now. No costs at all. they do a savings for the escrow and it is a LOC.

My house did nt apraise. the House across the street that is a POS, sold for 600k but it does not count cause I have a better house with 2.77 acres.
Because I have land it is worth less. Banks suck. 3.5% no costs...
 
Notorious t.o.d. said:
If the banks borrow from the Fed at zero percent and loan it out it is all profit anyway regardless of the rate they charge. It is all about risk, will they get repaid. I believe the banks are not loaning because they can put their money into basically risk free instruments and with factoring get a great return with near zero risk. Ever watch The Money Masters movie on YouTube? Long but very well done.
Click to expand...

Banks never have risks! they are theives and leaches. their product is YOUR money. If they lose it all, they cry and get a new Ice Cream cone from mommy gov't.
the banks were bailed out, spent the money and then kicked everyone out of their houses to sell them at 100%.

ask anyone that lost their house, as soon as they asked for help the payments and terms doubled and they lost.

When I go bankrupt, all my freinds will have new bikes and motor homes, every line tapped to max and a half, each kid will have their own house.

Hello Barack? yeah, its Double D, Your welcome for all the tax money.....sure....Uhh Yeah I quite. you can have all your stuff back. It is here in the drive.
If you need me I am in line looking for hand outs... Thank you for the lesson on how to get rich in the USA!!!!
 
I'm still pissed from when I bought this house a couple years ago. They jacked me around on the appraisal saying there was no lawn or landscape so they had to lower it by 10k. Of course after I now have a fabulous yard by http://www.4evergreenlawn.com/ my supposed home "value" is actually LESS. I have had tons of issues dealing with PNC as a customer.
 
The banks know, housing is still going to drop 2 to 4% every year for the next 3 years or so. They are covering their bet.
Appraising on the low side. I just wanted to knock off years not amount of payment. No deal.

I put around 33% down too!
 
Sad truth is that we could get out of this mess if we just went to government issued money and got rid of the Federal Reserve. It is one of the things I agree on with Ron Paul. I her Paul Ryan talking about how to fix the economy and everything, but he never mentions the Fed Reserve, so I guess it will just be more of the same....maybe to a slower pace, but he was talking 2030 or something just to balance the budget. Nuts!
 
PitRacer said:
I'm still pissed from when I bought this house a couple years ago. They jacked me around on the appraisal saying there was no lawn or landscape so they had to lower it by 10k. Of course after I now have a fabulous yard by http://www.4evergreenlawn.com/ my supposed home "value" is actually LESS. I have had tons of issues dealing with PNC as a customer.
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Funny how that works...I had big issues as a customer when I worked for Key, even more so especially after I was let go.
 
PitRacer said:
I'm still pissed from when I bought this house a couple years ago. They jacked me around on the appraisal saying there was no lawn or landscape so they had to lower it by 10k. Of course after I now have a fabulous yard by http://www.4evergreenlawn.com/ my supposed home "value" is actually LESS. I have had tons of issues dealing with PNC as a customer.
Click to expand...

Your talking about the banks appraisal value, not the counties correct?

My property value got dropped due to two adjacent properties in various states of disrepair, and I was happy about it. I don't want anything raising my property tax's any higher than they already are.
 
mine dropped 20k this year and im happy about it. its still a little higher than i feel the actual value is with todays market, so that 20k will drop a few bucks off my taxes every month.
 
First Merit quoted 3% for 15 years, with $4,000 closing costs. No thanks. That is insane! $4,000 to do some very routine paperwork that they do every damn day.

One more thing to mention. There is a big controversy over house titles that has been documented in the book Clouded Titles. It has to do with the MERS system and can cause major problems for homeowners. I have not read it, but I will before we do any refi to understand what is going on and to make sure the title is truely clean.
 
4k? holy crap!

i work at a mortgage company. i asked about refi and was told it wouldn't do much for me because FHA increased their monthly insurance premiums (over double from what i now pay)
 
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