How low can we go? 30 yr fixed at 3.75% with no fees...
- Thread starter ps99472
- Start date
NEW -> Contingent Buyer Assistance Program
Considered using them for another refi but just refi?d in September not sure yet if I?m going to take the plunge.
Called them and talked to a loan officer who was very helpful and knowledgeable and didnt pressure me to move forward which was nice. She confirmed they are no cost and no fee (lender credits at closing cover everything).
I can PM you her direct contact info if you want. I also wonder if they have a 20yr rate in between the 15 and 30yr rate. Forgot to ask when I called.
I closed a refi with Interactive Mortgage yesterday. I also refi'd with Owning.com in June 2020.
In short, Interactive Mortgage got the job done, 2.375% 30 year mortgage obtained, so in that regard, they delivered on their promise. They do have room for improvement though. It took 8 weeks from application & document submission to closing, which was about 2 weeks later than promised. They provided a wrong form for me to sign, so after they reviewed the signed documents they had to send me the correct form to sign and FedEx back to them. Perhaps the holidays and volume of refi activity had something to do with my experience.
My experience with owning was better. They provided all of the correct paperwork the first time. From application submission to closing, it was about 3 weeks. Everyone I communicated with was locally based, good communicators, and pleasant to work with. At the time they were offering no cost refi, but now their loans come with some fees/points.
BofA has kept jumbo rates flat in the past 2 weeks and are seeing increased app volume because of that.
sgip
Well-known member
Front facing Web Ad rates aren't what they appear to be.
When I was working for a large North Carolina based Bank, a past client of mine wanted to refinance his 1.2m loan. We were at 3.50% (garbage.... which is why I left that Bank...) He had $1m of funds at Schwab and closed with them at 3.0% back in October.
This client called me to see what we could do now in late December. He is "frozen out" at Schwab until 120 days pass from his previous closing. The quote he got from Schwab was 2.875. With his $1m they were able to take off .50, so net, net 2.375%. If rates don't move much, once February rolls by he still may get sub 2.5% money.
It's still possible to get sub 3% Jumbo rates if you are at 55-50% LTV even though you don't have $1m of assets with Bank A, Bank B, or Bank C.
When I was working for a large North Carolina based Bank, a past client of mine wanted to refinance his 1.2m loan. We were at 3.50% (garbage.... which is why I left that Bank...) He had $1m of funds at Schwab and closed with them at 3.0% back in October.
This client called me to see what we could do now in late December. He is "frozen out" at Schwab until 120 days pass from his previous closing. The quote he got from Schwab was 2.875. With his $1m they were able to take off .50, so net, net 2.375%. If rates don't move much, once February rolls by he still may get sub 2.5% money.
It's still possible to get sub 3% Jumbo rates if you are at 55-50% LTV even though you don't have $1m of assets with Bank A, Bank B, or Bank C.
Hugo Township
Active member
MortgageNewsDaily reporting that we are back to a 52 week low of 2.76%. http://www.mortgagenewsdaily.com/mortgage_rates/daily.aspx
What are people seeing without points this week? I refi'ed last year at 2.75% but thinking it's time to go shopping again.
What are people seeing without points this week? I refi'ed last year at 2.75% but thinking it's time to go shopping again.
lookingnirvine
New member
Anybody have experience with Interactive Mortgage? they have 2.375% for 30 years at no cost....
https://interactivemortgage.com
https://interactivemortgage.com
aquabliss
Well-known member
lookingnirvine said:
Considered using them for another refi but just refi?d in September not sure yet if I?m going to take the plunge.
Called them and talked to a loan officer who was very helpful and knowledgeable and didnt pressure me to move forward which was nice. She confirmed they are no cost and no fee (lender credits at closing cover everything).
I can PM you her direct contact info if you want. I also wonder if they have a 20yr rate in between the 15 and 30yr rate. Forgot to ask when I called.
someguy
Active member
lookingnirvine said:
I closed a refi with Interactive Mortgage yesterday. I also refi'd with Owning.com in June 2020.
In short, Interactive Mortgage got the job done, 2.375% 30 year mortgage obtained, so in that regard, they delivered on their promise. They do have room for improvement though. It took 8 weeks from application & document submission to closing, which was about 2 weeks later than promised. They provided a wrong form for me to sign, so after they reviewed the signed documents they had to send me the correct form to sign and FedEx back to them. Perhaps the holidays and volume of refi activity had something to do with my experience.
My experience with owning was better. They provided all of the correct paperwork the first time. From application submission to closing, it was about 3 weeks. Everyone I communicated with was locally based, good communicators, and pleasant to work with. At the time they were offering no cost refi, but now their loans come with some fees/points.
lookingnirvine
New member
Thanks all! Just gave them a call. Looks like CMG Financial will be the loan servicer once the Refi closes.
nosuchreality
Well-known member
Markets dont like choas.
usctrojancpa
Well-known member
Cares said:
BofA has kept jumbo rates flat in the past 2 weeks and are seeing increased app volume because of that.