Any mortgage experts on the forums?

[Yef]

30 years?

[whacked1]

30 years?

Yes. Not a jumbo though

[Yef]

Sent.

I got 2.5 (not primary residence )

Please send broker info!
Ty

[Yef]

Does anyone know the least amount of time you have to wait after forbearance to refinance? And where best place is?

[ae123]

Sent.

I got 2.5 (not primary residence )

He just quoted us 2.75% for 20 year refinance.

[whacked1]

He just quoted us 2.75% for 20 year refinance.

Interesting. Jumbo? Are you cashing out as well?

[ae123]

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?

[teon00x14]

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. 

[yitzgar]

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

[CountValentine]

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.

[helpusout]

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

[teon00x14]

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. 

[ae123]

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?

[teon00x14]

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

[nucheiner]

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?

[yelped]

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.

[yitzgar]

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?

[ae123]

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.

[yelped]

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).

[ae123]

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.