Wednesday, March 31, 2021

Good idea for refinancing?

No comments :

So, I recently about 3 months ago asked about Refinancing to 2.75%, currently have 3.75%.

My wife is currently military and don’t plan on settling down or know when she will be getting orders to leave the current base we are at. After declining the refinancing option due to adding 6,000$ worth of closing cost onto our mortgage we get this email about 3 months later

“I tried to leave a voicemail but wanted to reach out here as well. I hope everything is going well for you and your family in your new home. I am reaching out to you because rates have dropped recently and since we service your loan, I wanted to let you know there is an opportunity for you to do an interest rate reduction and be able to save you some money on your monthly payment.

We can get you locked in at 2.75%. Currently your rate is 3.75%. This may not seem like a huge drop in your rate but based off our initial estimates, this refinance will save you approximately $110/month. The refinance will basically come at little cost to you. Your current escrow will be applied to the payoff of your loan so this will essentially be a wash. This all will be financed into the loan so you won’t need any money at closing. This deal is only being offered currently to those loans we currently service and only while the rates are available.

The great thing about the VA streamline refinance, there will not be any need of an appraisal and the paperwork needed from you will be minimal since we don’t need to verify income or asset on these loans. You just need to fill out the paperwork and the rest of the process is mainly back end paperwork for us. Give me a call as soon as you can to verify a few pieces of information, as we don’t know how long rates will hold. What we will do is send you out a loan estimate so you can look at the numbers so we can get you locked in immediately.”

It legit sounds like they same thing I said no to 3 months ago but now they are using our escrow to cover some of the closing cost.

Does this seem like a good idea or is this some kind of lender scam?



Submitted March 31, 2021 at 09:02PM by BlazeThatTieDye https://ift.tt/3sHwX6D

No comments :

Post a Comment