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Great mortgage brokers that you used
« Last edited by yesitsme on October 08, 2021, 02:06:12 AM »

Author Topic: Any mortgage experts on the forums?  (Read 89716 times)

Offline Yef

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Re: Any mortgage experts on the forums?
« Reply #220 on: October 18, 2020, 04:32:03 PM »
30 years?

Offline whacked1

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Re: Any mortgage experts on the forums?
« Reply #221 on: October 18, 2020, 04:32:35 PM »
30 years?
Yes. Not a jumbo though

Offline Yef

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Re: Any mortgage experts on the forums?
« Reply #222 on: October 18, 2020, 04:33:36 PM »
Sent.

I got 2.5 (not primary residence )
Please send broker info!
Ty

Offline Yef

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Re: Any mortgage experts on the forums?
« Reply #223 on: October 18, 2020, 04:34:55 PM »
Does anyone know the least amount of time you have to wait after forbearance to refinance? And where best place is?

Offline ae123

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Re: Any mortgage experts on the forums?
« Reply #224 on: October 18, 2020, 04:40:36 PM »
Sent.

I got 2.5 (not primary residence )
He just quoted us 2.75% for 20 year refinance.

Offline whacked1

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Re: Any mortgage experts on the forums?
« Reply #225 on: October 18, 2020, 04:50:00 PM »
He just quoted us 2.75% for 20 year refinance.
Interesting. Jumbo? Are you cashing out as well?

Offline ae123

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Re: Any mortgage experts on the forums?
« Reply #226 on: October 18, 2020, 04:51:32 PM »
Interesting. Jumbo? Are you cashing out as well?
No idea what Jumbo is. It's for approx. $245,000.
Not cashing out.
Maybe it's because the Adverse Market Refinance Fee is rolled in?

Offline teon00x14

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Re: Any mortgage experts on the forums?
« Reply #227 on: October 19, 2020, 01:25:16 PM »
Ok, thanks.
Everyone we call wants to first see our information before giving a firm quote.
Does it make sense to send out our personal info to a number of brokers?
Get as much initial offers as possible.  I got 15 different offers.  The lenders/brokers will need info like address, how much you owe on the current loan, how much is the house worth (to calculate LTV), and estimated credit score.  DO NOT GIVE THEM YOUR SSN AT THIS POINT!  You just need to filter out lenders/brokers with high rates to not waste your time.  Once you've narrowed down to like 4-5 offers, you can proceed with giving them your SSN so they can pull credit report (hard or soft) for an accurate quote aka lending estimate.  You can then use the LE to price match with the lenders and etc.  Make sure to align the lenders/brokers to start pulling report during a certain time period otherwise it will really ding your credit score. 

Offline yitzgar

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Re: Any mortgage experts on the forums?
« Reply #228 on: October 19, 2020, 01:41:22 PM »
Get as much initial offers as possible.  I got 15 different offers.  The lenders/brokers will need info like address, how much you owe on the current loan, how much is the house worth (to calculate LTV), and estimated credit score.  DO NOT GIVE THEM YOUR SSN AT THIS POINT!  You just need to filter out lenders/brokers with high rates to not waste your time.  Once you've narrowed down to like 4-5 offers, you can proceed with giving them your SSN so they can pull credit report (hard or soft) for an accurate quote aka lending estimate.  You can then use the LE to price match with the lenders and etc.  Make sure to align the lenders/brokers to start pulling report during a certain time period otherwise it will really ding your credit score.
I think if it's within 6 months it only counts as one pull

Offline CountValentine

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Re: Any mortgage experts on the forums?
« Reply #229 on: October 19, 2020, 01:50:22 PM »
I think if it's within 6 months it only counts as one pull
You might want to check on this. There are all different models they use. I have seen ones for 14, 30 and 45 days. Have never seen one for 6 months.
Only on DDF does 24/6 mean 24/5/half/half

Offline helpusout

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Re: Any mortgage experts on the forums?
« Reply #230 on: October 19, 2020, 01:56:12 PM »


looking for a flexible mortgage broker as well. please send info
Sent

Offline teon00x14

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Re: Any mortgage experts on the forums?
« Reply #231 on: October 19, 2020, 04:53:05 PM »
You might want to check on this. There are all different models they use. I have seen ones for 14, 30 and 45 days. Have never seen one for 6 months.
Yes, the info varies between bureau and models, hence the reason why I didnt want to list a specific number. 

Offline ae123

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Re: Any mortgage experts on the forums?
« Reply #232 on: October 20, 2020, 02:41:29 PM »
Get as much initial offers as possible.  I got 15 different offers.  The lenders/brokers will need info like address, how much you owe on the current loan, how much is the house worth (to calculate LTV), and estimated credit score.  DO NOT GIVE THEM YOUR SSN AT THIS POINT!  You just need to filter out lenders/brokers with high rates to not waste your time.  Once you've narrowed down to like 4-5 offers, you can proceed with giving them your SSN so they can pull credit report (hard or soft) for an accurate quote aka lending estimate.  You can then use the LE to price match with the lenders and etc.  Make sure to align the lenders/brokers to start pulling report during a certain time period otherwise it will really ding your credit score.
They are asking for our W2s and paystubs......should we give that?

Offline teon00x14

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Re: Any mortgage experts on the forums?
« Reply #233 on: October 20, 2020, 02:57:02 PM »
They are asking for our W2s and paystubs......should we give that?
For the initial offer?  NO! That's a lot of personal information to provide.  You may give them the gross pay amount, but I don't recommend sending any official paperwork until you're ready to move forward to the next phase.  Use internet lenders/brokers along with local credit unions and etc to get offers.  I don't know where you're at, but below are a few places to get a general ballpark offer.  May not be available in your state.

www.rocketmortgage.com
www.loancabin.com
www.better.com
www.lenderfi.com
www.interactivemortgage.com
www.loandepot.com
www.networkcapital.net
www.wcmtg.com

Offline nucheiner

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Re: Any mortgage experts on the forums?
« Reply #234 on: October 27, 2020, 08:52:17 PM »
For the initial offer?  NO! That's a lot of personal information to provide.  You may give them the gross pay amount, but I don't recommend sending any official paperwork until you're ready to move forward to the next phase.  Use internet lenders/brokers along with local credit unions and etc to get offers.  I don't know where you're at, but below are a few places to get a general ballpark offer.  May not be available in your state.

www.rocketmortgage.com
www.loancabin.com
www.better.com
www.lenderfi.com
www.interactivemortgage.com
www.loandepot.com
www.networkcapital.net
www.wcmtg.com
You’ve found these to be more competitive then the frum brokers? And  if yes was it the rates or fees that were better?

Offline yelped

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Re: Any mortgage experts on the forums?
« Reply #235 on: October 27, 2020, 09:21:33 PM »
You’ve found these to be more competitive then the frum brokers? And  if yes was it the rates or fees that were better?
I tried going through one of the cheap banks posted earlier on the thread. Didn't hear from them after applying for months. Went to a frum broker, he got me a better rate, and he closed within weeks. We also had a last minute, day of closing change with the loan amount we needed, and he was able to get it adjusted within minutes with no issues or delaying the closing.

Offline yitzgar

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Re: Any mortgage experts on the forums?
« Reply #236 on: October 27, 2020, 10:31:16 PM »
I tried going through one of the cheap banks posted earlier on the thread. Didn't hear from them after applying for months. Went to a frum broker, he got me a better rate, and he closed within weeks. We also had a last minute, day of closing change with the loan amount we needed, and he was able to get it adjusted within minutes with no issues or delaying the closing.
Can you pm his info?

Offline ae123

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Re: Any mortgage experts on the forums?
« Reply #237 on: October 27, 2020, 10:45:53 PM »
What's the average fee for refinancing - with & without appraisal?
We are hearing different amounts and it would help if we know what was average.

Offline yelped

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Re: Any mortgage experts on the forums?
« Reply #238 on: October 27, 2020, 10:48:07 PM »
What's the average fee for refinancing - with & without appraisal?
We are hearing different amounts and it would help if we know what was average.
Depends on the state as well as value of your house (title fees go according value of home in certain states).

Offline ae123

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Re: Any mortgage experts on the forums?
« Reply #239 on: October 27, 2020, 10:49:37 PM »
Depends on the state as well as value of your house (title fees go according value of home in certain states).
NJ.
11 year old home.
Value around 600k.