Any mortgage experts on the forums?

[Ephraimh]

i'm paying 4.75   

I’m paying 5.625%(closed at peak October 2018!) refinancing now for 3.1%.

[yesitsme]

I’m paying 5.625%(closed at peak October 2018!) refinancing now for 3.1%.

I closed sept 18

[Ephraimh]

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.

[cgr]

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

[erlich]

I’m paying 5.625%(closed at peak October 2018!) refinancing now for 3.1%.

Investment?

[erlich]

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?

[cgr]

Where is kearny bank?

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

[Ephraimh]

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.

[CountValentine]

Are rates higher for a condo (primary home)?

[davidd75]

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?

[cgr]

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.)

[Berenstein Bear]

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

[davidd75]

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?

[cgr]

whats their email please Kearny bank?

PM me

[shapsam]

Anywhere online that I can get a pre approval letter ASAP (without waiting for a callback)?

[JACKBLUE]

Are rates higher for a condo (primary home)?

No. at least not in NYC.

[erlich]

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

[shapsam]

Pm me ,I might be able to help
Thanks

I just got it though credible.com with a soft credit pull. Thank you anyway.

[dovy2]

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.

[Berenstein Bear]

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?