phinsup

refinancing the house, dropping payment big time, 1 whole point!



I'm off to have a cigar and a cut of coffee.

Turbo II

so i guess that means ur not miving to cali?

phinsup

huh? No not increasing the loan amount or extending, just lowering the payment, they have a program with our lender, you just call them when it drops more the 1% and they send you out a piece of paper and yer rockin.

j9fd3s

i guess this means you arent moving?



mike

ThirdGenRX7

he needs to riot before he can move

sunshine

Be careful, sometimes the fees that are associated with re-financing are large enough to offset the benefit of the lower interest rate. Also, there may be a cap as to how many times you are allowed to re-finance.

I'm sure you know this, but just a heads up anyways.

phinsup

Umm, no we prolly aren't going to move with the payment going down so much. No we aren't technically "refinancing" we have a deal with the bank that if it drops more then 1 point we can lower our rate without doing a total refi, nothing changes on the loan, not even the loan number, I can't remember what it's called, but a lot of banks offer it on FHA loans.

Nemesis

If you are interested, email me a copy of your good faith estimate. WA is like the only friggin state I cannot originate loans in, but I can tell you exactly what you are getting. brian@1stoptionmtg.com

phinsup

LOL okeedoke, umm, I gotta wait till the wife gets home though cause I have no fuggin clue where it is. She files a little different then I do

Rob x-7

word has it that Greenspan is dropping the rates again this month or next.