Low Rates -- Refinance -- No Coote

Burchtree

Burchtree

KnifeMaker & Moderator
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Just thought I'd do a little online pouting. Interest rates are so low, it would be silly not to refinance my house -- unfortunately it'll take my coote fund to pay closing costs.

To make things worst, my buddy is a welding rep, and he has a plasma torch on loan for a couple of weeks. So I'm gonna have a whole bunch of knife blanks, and no coote. :grumpy:
 
Talk with your mortgage rep/banker. You should be able to refinance with no out of pocket costs -- they're rolled into the loan balance.
 
Yeah I just did a "no out of pocket deal" and it was - not a dime. Not the best interest rate, but close to it.

Also, some lenders are resetting interest rates, rather than lose the business. A friend at work called his loan holder and got a new rate for $40 and there was no re-appraisal or paper work.

Steve
 
hey, don't forget about not having to make a house payment for the month after you close. I refied in january and didn't have to make a payment until March. I also finaced in the closing costs. The only thing I had to pay was the appraisal fee of $50.00

That might be enough to get that grinder.
 
I had thought about that, but I just bought my house last year, and I don't know if I have enough equity built up to put it in the closing cost. Plus, it's a VA loan, and those are always weird. But, the rate is 5-percent for a 15-year loan, and it wouldn't be too bad to own a house by the time I'm 40.

Larado -- I hear that every once in awhile, some people can skip two payments -- that would be sweet.

We'll see -- I will prevail and the Coote will be mine!! oh yes, it will be mine. My preciousssss.
 
Originally posted by Burchtree
Plus, it's a VA loan, and those are always weird. But, the rate is 5-percent for a 15-year loan, and it wouldn't be too bad to own a house by the time I'm 40.
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Keep an eye on them if you refinance. We had a VA assumable loan on ours(big selling point). After we refinanced, we discovered that they had taken out the VA assumable part. They are all very sneaky.:mad:
 
It wasn't an assumable loan, I started the VA loan.

Good news though -- I called and found out I was able include the closing cost. Locked down at 5.5 woohoo.

C'mere cootie, here boy . . . . :)
 
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