Author Topic: Any mortgage experts on the forums? (Read 90472 times)

S209 · « **Reply #320 on:** August 12, 2021, 07:40:54 PM »

Quote from: Help on August 12, 2021, 06:41:52 PM

If they wont trace the money, I can just wire the money from a different account. or are you saying transferring through my attorney has less of a chance that they will request to see the source of the money?

No broker here. you can't get this loan through a mortgage broke, only directly with bank.

Yes but isn’t there an underwriter and loan officer? What do they say?

Also, how crazy is this rate?

Help · « **Reply #321 on:** August 12, 2021, 07:54:04 PM »

Quote from: S209 on August 12, 2021, 07:40:54 PM

Yes but isn’t there an underwriter and loan officer? What do they say?

Also, how crazy is this rate?

I don't want to bring it to their attention.
Interest rate is standard but they offer $10k down payment grant. (They 1099 you so effectively it's less than that.) And $7,500 towards closing cost (non taxable).

yitzgar · « **Reply #322 on:** August 12, 2021, 08:08:16 PM »

Quote from: Help on August 12, 2021, 07:54:04 PM

I don't want to bring it to their attention.
Interest rate is standard but they offer $10k down payment grant. (They 1099 you so effectively it's less than that.) And $7,500 towards closing cost (non taxable).

Which bank?

S209 · « **Reply #323 on:** August 12, 2021, 08:09:09 PM »

Quote from: Help on August 12, 2021, 07:54:04 PM

I don't want to bring it to their attention.
Interest rate is standard but they offer $10k down payment grant. (They 1099 you so effectively it's less than that.) And $7,500 towards closing cost (non taxable).

Wow, nice!

Help · « **Reply #324 on:** August 12, 2021, 08:14:04 PM »

Quote from: yitzgar on August 12, 2021, 08:08:16 PM

Which bank?

BOFA. they are a Pain in the neck to deal with, 0 communication and I would never recommend to someone who has a slightly complicated situation.
But they gave me 17,500 reasons to go with them

P.S. I did a lot of research regarding first time home buyer programs, if anyone has any questions I'll be glad to answer.

Mf1 · « **Reply #325 on:** August 12, 2021, 08:49:52 PM »

Quote from: Help on August 12, 2021, 05:58:30 PM

I did.
The bank (supervisor) claimed that there is nothing he can do regarding waiving the limit.
The title company told me; from their side they don't care where the money comes from. they didn't offer a way to access the funds from that account.

How about overnighting a cashier's check

Help · « **Reply #326 on:** August 12, 2021, 09:43:26 PM »

Quote from: Mf1 on August 12, 2021, 08:49:52 PM

How about overnighting a cashier's check

I didn't think of that, but I asked him what my options are and he told me its to go down to a branch.
regardless, It's too late for that now.

yitzgar · « **Reply #327 on:** August 12, 2021, 10:01:58 PM »

What rates are people getting nowadays for refis?

nirc · « **Reply #328 on:** August 12, 2021, 10:08:27 PM »

Quote from: yitzgar on August 12, 2021, 10:01:58 PM

What rates are people getting nowadays for refis?

i did a 15 yr 2.5% with an effective $0 fees/closing costs

Nate79 · « **Reply #329 on:** August 14, 2021, 12:08:36 PM »

Just completed a 2.125% 15 year fixed refi with Better for a net of getting back $1k when figuring in the $2k Amex credit. Nice to make money on a refi and get a low interest rate.

yesitsme · « **Reply #330 on:** August 14, 2021, 09:40:46 PM »

Quote from: Nate79 on August 14, 2021, 12:08:36 PM

Just completed a 2.125% 15 year fixed refi with Better for a net of getting back $1k when figuring in the $2k Amex credit. Nice to make money on a refi and get a low interest rate.

And I'm paying 4.75%