House mortgage 30yr rate almost 7%, 15yr rate 5%

[Vaampire]

59 minutes ago, veerigadu said:

It also varies by state? One of from NJ told me refinance costs a ton for them. 

Naaah. Refinance hardly costs 0.8-1%.. lender credits untayi elano. So pedhaga karchu undadhu. Sometimes lender credits> closing cost

[phatposts]

8 minutes ago, megadheera said:

Yes. 0 cost lo chestaru. Suppose interest rate 3.5 unte they increase the rate to 3.75 and do 0 cost refinance . I did more than 5 times

Usually it is not true zero. Final closing costs ni loan lo kalipesi - neeku zero out of pocket chestaru.

I recommend reading the fine print and comparing the existing and new loan closing docs to clearly understand line by line. 

[Vaampire]

1 minute ago, phatposts said:

Usually it is not true zero. Final closing costs ni loan lo kalipesi - neeku zero out of pocket chestaru.

I recommend reading the fine print and comparing the existing and new loan closing docs to clearly understand line by line. 

Depends on lender man. Naaku last time refinance chesinappudu 11k credits ichadu lender. Closing ki motham 9k ayindi.

this is for 5/1 arm. 

[phatposts]

7 minutes ago, Vaampire said:

Depends on lender man. Naaku last time refinance chesinappudu 11k credits ichadu lender. Closing ki motham 9k ayindi.

this is for 5/1 arm. 

Interesting. Did you check how the amortization table changed? In your favor or in lender's favor?

[AryaD]

4 hours ago, Ravi860 said:

Endi mawa idhi ila lestunnai? 2months lo scene reverse ayindi. Pade chances unnaya?

It will come down sure . Luckily i locked the rate for 2.5% for 15 years in February.

[megadheera]

21 minutes ago, phatposts said:

Usually it is not true zero. Final closing costs ni loan lo kalipesi - neeku zero out of pocket chestaru.

I recommend reading the fine print and comparing the existing and new loan closing docs to clearly understand line by line. 

Minimal cost untadi bhayya like deed charges, notary etc but Over all it will not affect. If you check You closing disclosure you can easily find out what are the chargers and new payment and loan amount. It’s not a rocket science. You can easily find out if they charge any hidden cost. 

[Kalam_Youtheman]

4 hours ago, veerigadu said:

Refinance is not that easy. Closing costs everytime 3-5% untadi. If you have 800K home, you pay almost 35 to 40K just on closing costs. It wont add up to your equity. These interest rate hike will slow down things a bit. Market needs some cooling. 

lol anthaa ledh bro... it all depends who is your lender and how he is making bakara

1M HOME KI VA LO CLOSING COSTS MY FRND PAID 15K

[Kalam_Youtheman]

1 hour ago, veerigadu said:

It also varies by state? One of from NJ told me refinance costs a ton for them. 

NJ baaapth ahhh... aithe thappu ledhu le... half knowledge

[karna11]

4 hours ago, Ravi860 said:

Endi mawa idhi ila lestunnai? 2months lo scene reverse ayindi. Pade chances unnaya?

7% ithe kadhu lee , 5.8% lock chesaru last week

[phatposts]

16 minutes ago, megadheera said:

Minimal cost untadi bhayya like deed charges, notary etc but Over all it will not affect. If you check You closing disclosure you can easily find out what are the chargers and new payment and loan amount. It’s not a rocket science. You can easily find out if they charge any hidden cost. 

Yes. Unfortunately many people dont pay attention to details.