question about refinancing

[the nature boy]

I'm at 5.75 for 30 years and I'm wondering if I should refinance.

 

[beastboy]

Hit up one of those calculators....it can tell you if it'll be worth it. Also, you may be able to find a company that will give you a lower rate and pay your closing costs.

 

[Code]

Are you doing a refi to get a lower rate and/or to pull some equity out of your house?

If you just want a lower rate, shop around.

Don't pull the equity out unless you plan on selling soon.

 

[Nathan]

My advice is to fill your anus with the semen of 60 eldery men cause the Lord knows you'd enjoy it. Homo.

 

[the nature boy]

Are you doing a refi to get a lower rate and/or to pull some equity out of your house?

If you just want a lower rate, shop around.

Don't pull the equity out unless you plan on selling soon.

yeah I just to lower my montly payment is all. I'm shooting for 4.85 which is what my friend got.

 

[beastboy]

yeah I just to lower my montly payment is all. I'm shooting for 4.85 which is what my friend got.

What terms?

 

[the nature boy]

What terms?

30 years zero points.

I just talked to the same dude and he said the rates have gone up i the last 2 weeks to 5.25. Not worth my time.

 

[beastboy]

30 years zero points.

I just talked to the same dude and he said the rates have gone up i the last 2 weeks to 5.25. Not worth my time.

I was actually searching for rates this AM....seen them as low as 4.65.

 

[the nature boy]

I was actually searching for rates this AM....seen them as low as 4.65.

get out. for 30 years? how many points?

 

[beastboy]

get out. for 30 years? how many points?

I believe zero, unless I didn't read the fine print...let me see if I can find a link.

 

[beastboy]

Do you love me? Yes or No?

 

[the nature boy]

Do you love me? Yes or No?

you're the best beastbroly.

 

[Bullit]

30 YEARS???

WTF???

Here we get the rate for variable terms anywhere from 6 mo. to 5 years (sometimes, but very rarely, for 10 years) on a 30 yr amortization period. After the term is up you have to renew your mortgage at current rates.

You guys are gettin your rate for a solid 30 years???

Holy shit.

 

[the nature boy]

30 YEARS???

WTF???

Here we get the rate for variable terms anywhere from 6 mo. to 5 years (sometimes, but very rarely, for 10 years) on a 30 yr amortization period. After the term is up you have to renew your mortgage at current rates.

You guys are gettin your rate for a solid 30 years???

Holy shit.

they offer that shit here too. but I'm looking for a nice fixed rate for 30 years.

 

[beastboy]

Yepper. I've seen 40 years advertised at Lendingtree.com.

NB...what is your take on paying points?

 

[Bullit]

Yeah but I dont think you can even get a 30 yr term up here.
I've sure never heard of anyone getting that.

 

[beastboy]

Yeah but I dont think you can even get a 30 yr term up here.
I've sure never heard of anyone getting that.

Bummer.

My last house I had was 7.25% @ 30 years fixed. Hope to be around 5 with this house.

 

[Bullit]

I wonder if I can get a mortgage from an american bank.

Too late now, already got a mort. ... but something to consider for later.

 

[beastboy]

I wonder if I can get a mortgage from an american bank.

Too late now, already got a mort. ... but something to consider for later.

refinance.

 

[the nature boy]

Yepper. I've seen 40 years advertised at Lendingtree.com.

NB...what is your take on paying points?

fuck paying points. shop around. I'm not going to pay points. it's not worth it to me since I'll probably sell my place before I actually recoup the cost.

 

[beastboy]

Seems like it takes 10 years to recoup it, but you'll never "notice" it.

I went to that amerisave website....don't see where they advertised the 4.63 30 year 0 points on bankrate.com....They do have 5.00 though.

 

[the nature boy]

Seems like it takes 10 years to recoup it, but you'll never "notice" it.

I went to that amerisave website....don't see where they advertised the 4.63 30 year 0 points on bankrate.com....They do have 5.00 though.

I'm a little leary of these internet banks. I kind of like knowing that theres an office where I can go and bitch someone out in person rather than over the phone.

 

[Bullit]

What is 'points'?

What, if any, penalties do you pay if you decide to end your mortgage?

Are you allowed to put lump sums down on the Principal?

 

[beastboy]

I'm a little leary of these internet banks. I kind of like knowing that theres an office where I can go and bitch someone out in person rather than over the phone.

I am too....I'd pay a little more to go through my local bank I do all by business loans through. I'LL NEVER DO ESCROW AGAIN!

 

[the nature boy]

What is 'points'?

What, if any, penalties do you pay if you decide to end your mortgage?

Are you allowed to put lump sums down on the Principal?

points are percentage points. so if they say 1 point it's 1 percent of your loan you have to pay.

and no, you won't be penalized if you end your mortgage if you pay it off all at once. hell you're allowed to pay more than your monthly payment if you want.

 

[beastboy]

What is 'points'?

What, if any, penalties do you pay if you decide to end your mortgage?

Are you allowed to put lump sums down on the Principal?

POints....are monies you pay to the bank up front to get a lower interest rate. The money is wrapped in the closing costs.

Penalties are different depening on what institution you go through. Paying it off early doesn't usually constitute penalties.....refinancing through another bank, may though.

Yes...it is called a down payment. (You can pay extra towards the "principle" anytime you wisj)