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« Last edited by yesitsme on October 08, 2021, 02:06:12 AM »

Author Topic: Any mortgage experts on the forums?  (Read 90086 times)

Offline Ephraimh

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Re: Any mortgage experts on the forums?
« Reply #140 on: July 24, 2020, 01:17:23 PM »
i'm paying 4.75   >:( >:( >:( >:( >:(
Iím paying 5.625%(closed at peak October 2018!) refinancing now for 3.1%.

Offline yesitsme

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Re: Any mortgage experts on the forums?
« Reply #141 on: July 24, 2020, 03:04:35 PM »
Iím paying 5.625%(closed at peak October 2018!) refinancing now for 3.1%.
I closed sept 18
["-"]

Offline Ephraimh

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Re: Any mortgage experts on the forums?
« Reply #142 on: July 24, 2020, 03:19:04 PM »
I closed sept 18
Difference between us is you probably closed on a primary while I closed on a 2 family, investment, cash out which is the trifecta worse case scenario for mortgage rates.

Offline cgr

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Re: Any mortgage experts on the forums?
« Reply #143 on: July 24, 2020, 03:27:09 PM »
2.6%, 30 year, 500k
Was offered 2.3% for the 15 year
No points

I wanted to correct my previous post in case you didn't reach out because the bank doesn't offer mortgages in your state.
15 year 2.3%: KeyBank
30 year 2.6%: Kearny Bank

Offline erlich

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Re: Any mortgage experts on the forums?
« Reply #144 on: July 27, 2020, 11:14:17 PM »
Iím paying 5.625%(closed at peak October 2018!) refinancing now for 3.1%.
Investment?

Offline erlich

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Re: Any mortgage experts on the forums?
« Reply #145 on: July 27, 2020, 11:15:24 PM »
I wanted to correct my previous post in case you didn't reach out because the bank doesn't offer mortgages in your state.
15 year 2.3%: KeyBank
30 year 2.6%: Kearny Bank
Where is kearny bank?

Offline cgr

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Re: Any mortgage experts on the forums?
« Reply #146 on: July 27, 2020, 11:19:02 PM »
Where is kearny bank?

They have branches in NY and NJ and definitely offer mortgages in these two states.

Offline Ephraimh

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Re: Any mortgage experts on the forums?
« Reply #147 on: July 28, 2020, 09:25:09 AM »
Investment?
Yes
Difference between us is you probably closed on a primary while I closed on a 2 family, investment, cash out which is the trifecta worse case scenario for mortgage rates.


Online CountValentine

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Re: Any mortgage experts on the forums?
« Reply #148 on: July 28, 2020, 10:03:21 AM »
Are rates higher for a condo (primary home)?
Only on DDF does 24/6 mean 24/5/half/half

Offline davidd75

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Re: Any mortgage experts on the forums?
« Reply #149 on: July 28, 2020, 01:37:59 PM »
I wanted to correct my previous post in case you didn't reach out because the bank doesn't offer mortgages in your state.
15 year 2.3%: KeyBank
30 year 2.6%: Kearny Bank

2.3% is with points? and how much approx total closing costs in NJ?

Offline cgr

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Re: Any mortgage experts on the forums?
« Reply #150 on: July 28, 2020, 01:49:39 PM »
2.3% is with points? and how much approx total closing costs in NJ?
No points but she's been very cranky about extending these rates to others.
I believe KeyBank doesn't offer mortgages in NJ.

The Kearny Bank rep (30 year rate listed) has been a lot more helpful and while he might not have that rate right now, he can get back to you when the rate is at that level and lock you in (these things fluctuate on a day to day basis- might be 2.7% today and 2.6% tomorrow.)


Offline Berenstein Bear

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Re: Any mortgage experts on the forums?
« Reply #151 on: July 28, 2020, 02:23:07 PM »
Hi, I'd appreciate if any experts can weigh in.

Our Kollel stipend is paid directly to our landlord, check written out to his name. For SNAP purposes, we'd like a letter that states this info something to the effect of:

John Doe is full-time researcher at our ABC Institution. We are paying his monthly rent directly to his landlord in the amount of $x,xxx.

Once this letter is used, the school won't change it for us. Meaning, we can't have a letter written differently for mortgage etc. purposes.

Specifically for getting a mortgage, will such a letter work for us? Will the amount be counted as income? Or will we be writing off the kollel stipend from ever being a factor in being approved for a mortgage.

Thank you

Offline davidd75

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Re: Any mortgage experts on the forums?
« Reply #152 on: July 28, 2020, 02:29:48 PM »
No points but she's been very cranky about extending these rates to others.
I believe KeyBank doesn't offer mortgages in NJ.

The Kearny Bank rep (30 year rate listed) has been a lot more helpful and while he might not have that rate right now, he can get back to you when the rate is at that level and lock you in (these things fluctuate on a day to day basis- might be 2.7% today and 2.6% tomorrow.)
whats their email please Kearny bank?

Offline cgr

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Re: Any mortgage experts on the forums?
« Reply #153 on: July 28, 2020, 02:31:08 PM »
whats their email please Kearny bank?
PM me

Offline shapsam

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Re: Any mortgage experts on the forums?
« Reply #154 on: July 28, 2020, 08:36:32 PM »
Anywhere online that I can get a pre approval letter ASAP (without waiting for a callback)?

Offline JACKBLUE

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Re: Any mortgage experts on the forums?
« Reply #155 on: July 28, 2020, 09:01:38 PM »
Are rates higher for a condo (primary home)?
No. at least not in NYC.

Offline erlich

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Re: Any mortgage experts on the forums?
« Reply #156 on: July 28, 2020, 09:40:22 PM »
Anywhere online that I can get a pre approval letter ASAP (without waiting for a callback)?
Pm me ,I might be able to help
Thanks

Offline shapsam

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Re: Any mortgage experts on the forums?
« Reply #157 on: July 28, 2020, 10:09:41 PM »
Pm me ,I might be able to help
Thanks
I just got it though credible.com with a soft credit pull. Thank you anyway.

Offline dovy2

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Re: Any mortgage experts on the forums?
« Reply #158 on: July 29, 2020, 04:59:07 PM »
Hi, I'd appreciate if any experts can weigh in.

Our Kollel stipend is paid directly to our landlord, check written out to his name. For SNAP purposes, we'd like a letter that states this info something to the effect of:

John Doe is full-time researcher at our ABC Institution. We are paying his monthly rent directly to his landlord in the amount of $x,xxx.

Once this letter is used, the school won't change it for us. Meaning, we can't have a letter written differently for mortgage etc. purposes.

Specifically for getting a mortgage, will such a letter work for us? Will the amount be counted as income? Or will we be writing off the kollel stipend from ever being a factor in being approved for a mortgage.

Thank you

No bank will take just a letter for a mortgage

For snap and Medicaid letters might be enough, when it comes to a mortgage, you need much more than just a letter.

Offline Berenstein Bear

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Re: Any mortgage experts on the forums?
« Reply #159 on: July 31, 2020, 10:28:46 AM »
No bank will take just a letter for a mortgage

For snap and Medicaid letters might be enough, when it comes to a mortgage, you need much more than just a letter.

Thank you for your response. More than the letter, it seems we won't be able to count as income ever once we use such a letter. Will there be anyway for a bank to count this money in the future if it isn't called income?