Still time to refinance my house? Who should I contact?

Discussion in 'Off-Topic' started by UNIGuy4Cy, Jul 5, 2012.

  1. UNIGuy4Cy

    UNIGuy4Cy Well-Known Member

    Nov 11, 2009
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    Polk City
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    +172 / 4 / -0
    Hey fanatics was really still thinkin about refinancing my house. We bought it 2 years ago but are paying 5.25% interest. Is it too late to refinance? If not who should I work with. Thanks for the help!
     
  2. cydline2cydline

    cydline2cydline Active Member

    Sep 17, 2011
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    Altoonaville
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    +172 / 2 / -0
    just hit a new low today i heard...3.5% FHA 30 yrs
     
  3. CysLoveChild

    CysLoveChild Member

    Dec 8, 2011
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    Clive, IA
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    Contact your current lender if you like them. Otherwise most big banks will offer you about the same options. If you are curious, go to wellsfargo.com and you can dig around alittle or request free info.
     
  4. cyfreddy

    cyfreddy Member

    Oct 15, 2006
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    Nationwide Advantage Mortgage.
     
  5. 1100011CS

    1100011CS Well-Known Member

    Oct 5, 2007
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    There's another thread about this with some good suggestions. I'd link but no search on the mobile app. I recently refinanced with aim loan and was happy with them.
     
  6. Cyclones01

    Cyclones01 Well-Known Member

    May 23, 2008
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    Urbandale
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    If you're in Des Moines, Tyler Osby at Fairway Independent Mortgage was our lender. He's very easy to work with.
     
  7. ajk4st8

    ajk4st8 Well-Known Member

    Mar 27, 2006
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    just got 3.0% thru wells Fargo. for 25 yr
     
  8. ajk4st8

    ajk4st8 Well-Known Member

    Mar 27, 2006
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    srry 15 year
     
  9. trevn

    trevn Active Member

    Apr 10, 2006
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    There's still plenty of time to refi as rates are at an all-time low. You should be able to drop your rate nearly 2% (or more if you go the 15 year route). There are a ton of good options out there for financing. I'd take a look at a couple of banks for sure and compare fees. Don't overlook a "small" community bank either.
     
  10. SwirlingFloater

    Dec 19, 2008
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    Ditto.

    Tyler is great to work with. We bought a year ago using Tyler and are refinancing now using him.
     
  11. twojman

    twojman Well-Known Member

    Jun 1, 2006
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    Being awesome
    Clive
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    My wife and I are refinancing right now, we locked a couple of weeks back, I wish we would have waited a couple weeks. We locked a 20 year at 3.625% but it is at 3.5%. What is great about Luana Bank in Polk City? No fees, that's right $0! Nothing, zip zilch. The rate is a few basis points higher then you may get somewhere else but zero costs are great.

    They will not escrow anything though (taxes, hazard insurance etc....)
     
  12. UNIGuy4Cy

    UNIGuy4Cy Well-Known Member

    Nov 11, 2009
    8,553
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    Accountant
    Polk City
    Ratings:
    +172 / 4 / -0
    How how are the fees through Tyler Osby? Is this a company that will then sell my mortgage to another bank?
     
  13. SwirlingFloater

    Dec 19, 2008
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    West Des Moines
    Ratings:
    +25 / 0 / -0
    Fees aren't to bad and you see what everything is up front. We went with a no cost refinance that shaved 1.125% off of our interest rate from buying our house last year. We could have shaved another .375% off if we wanted to pay closing costs, etc. but we chose to not throw out of pocket cash at it for closing this time but still improved our interest rate.

    They do sell your loan, but I have never had any issues with that.

    I have bought 2 houses directly with Wells Fargo, one with a different mortgage broker and 3 houses with Tyler Osby. I like working with Tyler because he is extremely thorough, communicates consistently trough the entire process and always responds quickly if you have questions.
     
  14. Jambalaya

    Jambalaya Well-Known Member

    May 29, 2008
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    Don't believe advertisements so much.

    Make sure you ask about an 'origination fee', and 'points'.

    some banks charge both for a low rate, or at least origination fee

    don't pay an origination fee. In eastern Iowa, for example, Hills Bank and U of Iowa Credit Union do not charge an origination fee
     
  15. JokersWild

    JokersWild Member

    Mar 29, 2006
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  16. dmclone

    dmclone Well-Known Member

    Oct 20, 2006
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    A fellow fanatic recommended this place. I got a good rate and low costs. 2.75% on a 15yr

    https://www.bncbank.com
     
  17. JY07

    JY07 Well-Known Member

    Aug 20, 2009
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    i'd look at it more like an insurance agent shopping around to find you a deal; he wouldn't own your mortgage and sell it

    if you do go through a loan officer, i'd still consider checking out a few banks... when i talked to him last year his numbers made no sense for what i was looking to do
     
  18. Cyclophile1

    Cyclophile1 Well-Known Member

    Dec 14, 2009
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    Overland Park, KS
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    We went with BNC and closed this past Monday on a 15 year note. Our guy was Wayne and he was great. The whole process took less than a month.
     
  19. cyclonepower

    cyclonepower Well-Known Member

    Oct 5, 2006
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    another vote for Tyler Osby, good guy!
     
  20. AllBig12Drinker

    AllBig12Drinker Active Member

    Dec 7, 2009
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    Closing on our refi today through ING. After numerous hassles I have been through trying to refi (self employed for less than 2 years) we did the refi in my wife's name. We started the process two weeks ago. All done on line and very easy. Never had to meet with anyone.

    Not sure what the rate is today but we did a 5/1 arm at 2.65%.

    I was looking at a 10 or 15 year around 3% but ING didn't offer exactly what I wanted. I did some calculations, if you pay additional principal on the 5/1 arm to match what your payments would be on a 10 or 15 year at 3% it works out to almost the same interest expense and payoff date.

    Edit: Closing cost was $1,100.
     

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