How low can we go? 30 yr fixed at 3.75% with no fees...

[woodburyowner]

@IHO, sorry to hear, not sure why she didn't respond.  woodburyowner also had some issues with her service..  guess it's a hit or miss with Alyson.  I believe this is my 3rd or 4th time refi with her?  So far has been smooth, no major speed bumps with her.  But then I'm pretty much a slam dunk client and don't need my hands held (not to say you guys do).  Why not hit up SGIP?  I hear his rates are the same as Alyson's.  And if you're willing to bank with BAC or already have assests with them, can be cheaper.  Remember free museums first weekend of the month with your BofA card!

Yes, she seems to be pretty spotty with her e-mail responses.  Sometimes it takes over a day, even 2 days!  Seems like an eternity in this day in age and this rate environment.  Also, she did mess up on my profile and was quoting me crazy rates until I double-checked and figured out she was  using someone elses loan profile.  Even when I did get my loan profile corrected, I can't seem to mirror ps9's rate even though we have similar profiles.

I'm working with SGIP now and things seem to be going much smoother.  It's still very early so I don't want to comment too much.

 

[irvinehomeowner]

Yeah, I've already contacted SGIP.

I emailed Alyson just to compare and also to see how quickly she would respond since she is the ps9-vetted refi person.

 

[qwerty]

Locked with Alyson today - 5/1 at 2.75% with no out of pocket costs for closing costs. Was 1.5 years into my last 5/1 arm. Thanks again to TI for convincing me.

 

[eyephone]

Locked with Alyson today - 5/1 at 2.75% with no out of pocket costs for closing costs. Was 1.5 years into my last 5/1 arm. Thanks again to TI for convincing me.

Why did ps9 get 2.5 with credit and you got a 2.75 flat?

Lol

 

[qwerty]

Locked with Alyson today - 5/1 at 2.75% with no out of pocket costs for closing costs. Was 1.5 years into my last 5/1 arm. Thanks again to TI for convincing me.

Why did ps9 get 2.5 with credit and you got a 2.75 flat?

Lol

Zero out of pocket = credit. Closing costs are about 3000

Ps9 can chime in but I doubt that in addition to closing costs he got an extra 3000. If he did that's a hell of a deal.

 

[eyephone]

Locked with Alyson today - 5/1 at 2.75% with no out of pocket costs for closing costs. Was 1.5 years into my last 5/1 arm. Thanks again to TI for convincing me.

Why did ps9 get 2.5 with credit and you got a 2.75 flat?

Lol

Zero out of pocket = credit. Closing costs are about 3000

Why did he get a lower rate? I thought the rates have been dropping.

 

[qwerty]

Locked with Alyson today - 5/1 at 2.75% with no out of pocket costs for closing costs. Was 1.5 years into my last 5/1 arm. Thanks again to TI for convincing me.

Why did ps9 get 2.5 with credit and you got a 2.75 flat?

Lol

Zero out of pocket = credit. Closing costs are about 3000

Why did he get a lower rate? I thought the rates have been dropping.

Ps9 could be a better negotiatior. I just told Alyson to lock when i could get 2.75 and a credit to cover closing costs. She may have pocketed the difference?  It was better than anything Zillow had so that was good enough for me.

 

[woodburyowner]

Alyson had an investor who set the criteria at < 50% LTV, SFR,  > 417k loan and high FICO (my guess 780+) to get the rock bottom pricing.  Many banks/other lenders don't have such a high tier.  I'm guessing qwerty is missing one or more of the above requirements.

 

[bones]

Is Alyson a broker? Or which bank is she with?  Qwerty- why not just go to one of the big banks direct and get the 2.5%?

 

[qwerty]

Is Alyson a broker? Or which bank is she with?  Qwerty- why not just go to one of the big banks direct and get the 2.5%?

I'm guessing Alyson is a broker? I believe the company she works for originates loans and then Sells them off. Not sure.

Are they offering 2.5% direct? Honestly I didn't shop around. I checked Zillow and bofa. Alyson was lower than Zillow. On their website, bofa had 2.75% with like 1/8 of a point or so then tack on other closing costs.

Bones - which big banks are offering 2.5% with no closing costs?

 

[eyephone]

Is Alyson a broker? Or which bank is she with?  Qwerty- why not just go to one of the big banks direct and get the 2.5%?

I'm guessing Alyson is a broker? I believe the company she works for originates loans and then Sells them off. Not sure.

Are they offering 2.5% direct? Honestly I didn't shop around. I checked Zillow and bofa. Alyson was lower than Zillow. On their website, bofa had 2.75% with like 1/8 of a point or so then tack on other closing costs.

Bones - which big banks are offering 2.5% with no closing costs?

Due diligence an after thought Qwerty? (Shocking) 

 

[sgip]

FYI - Website rates appeal to the broadest possible loan circumstances and rarely equal what you can get by picking up the phone to run a real time deal past the lenders pricing desk. I've seen WF quote terms on their site that I know aren't as good as what my contacts at the bank are selling at the same moment. The bigger the bank, the greater the chance of being litigated, so they pad those online rates quite a bit so as to not under quote/under deliver.

Another thing to consider is the moment by moment changes in the marker compared to how often rates get updated on line. Zillow asked for rate updates twice a day in the past. Some wholesalers change pricing 2-3 times a day. Just another reason to dial, not scroll or browse for the better deal.

My 02c

 

[ps99472]

Alyson is a broker, the loan is then sold to Chase.  Everyone's loan can vary.  Knowing qwerty, I'm willing to bet his LTV is high since paying off cheap debt is not on his radar. 

With that being said, maybe shop another lender (SGIP) before locking next time?  But again, we're talking a measly 0.5% here, not worth it in the qwerty universe.

 

[bones]

Yea, it's a measly percentage but if you're going to refi, why not just get the best rate for a couple years?  I'm pretending like I know  qwerty's circumstances (even though I don't), but I feel like 2.5% was/is definitely gettable for him.  And if not 2.5%, then definitely 2.625.  And yea, I never rely on the website quotes... just email my guys directly.  But if you've refi-ed with Alyson before, I can see how it's easy to just stick with her since she probably has all your info on file and I assume, the underwriting is a bit more straight forward the 2nd/3rd/4th time around.

 

[qwerty]

Alyson is a broker, the loan is then sold to Chase.  Everyone's loan can vary.  Knowing qwerty, I'm willing to bet his LTV is high since paying off cheap debt is not on his radar. 

With that being said, maybe shop another lender (SGIP) before locking next time?  But again, we're talking a measly 0.5% here, not worth it in the qwerty universe.

Well that's thing for .25% I wasn't really sweating. While the 2.5 would have been nice my main thing was to relock another 5 years. I'll give sgip a call next time. I probably should have this time. Although Alyson is better looking than SGIP

 

[qwerty]

Yea, it's a measly percentage but if you're going to refi, why not just get the best rate for a couple years?  I'm pretending like I know  qwerty's circumstances (even though I don't), but I feel like 2.5% was/is definitely gettable for him.  And if not 2.5%, then definitely 2.625.  And yea, I never rely on the website quotes... just email my guys directly.  But if you've refi-ed with Alyson before, I can see how it's easy to just stick with her since she probably has all your info on file and I assume, the underwriting is a bit more straight forward the 2nd/3rd/4th time around.

Yeah it really was a matter of convenience.

 

[ps99472]

Appraisal tomorrow, hopefully I get a decent guy/gal.  Or at least someone who thinks my new wall oven is worth $50k

 

[Goriot]

10 year treasury hit 1.6%. 

 

[Roger]

Locked my rate few weeks back, and SGIP was absolutely right - as soon as you lock, the rate will start go down  :'(
This is my 2nd time refi with SGIP, still in process to close but I am pretty sure it'll be as smooth as my first one with him.  Strongly advise those who want to take advantage with current rate trend to give SGIP a try!

 

[Logik]

FYI - USC Credit Union has a 2.5% rate on a 5/5 ARM.
https://usccreditunion.mortgagewebcenter.com/CheckRates

Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.
USC Credit Union's origination charge$275.00
Your credit for this interest rate($1,152.00)
Required services we select$877.00
Required services you select$2,080.00
Government recording charges$105.00
Total Estimated Settlement Charges$2,185.00


The 5/1 ARM also at 2.5%  is more expensive.
Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.
USC Credit Union's origination charge$275.00
Required services we select$877.00
Required services you select$2,080.00
Government recording charges$105.00
Total Estimated Settlement Charges$3,337.00

Any idea why?  Wouldn't a 5/5 ARM be better than a 5/1 ARM assuming same margin, 2% adjustment, etc...?