HARP 2.0 Mortgage rate - Is this honestly the best deal for me?
I am getting quoted for 5.25% mortgage rate 30 yr fixed. This is for a HARP 2.0 load. Is this too high? It is refi with my current lender and I can't seem to get any one else to consider the loan.Basic infoLocation Phx Az - Load 328k Home value 230-240k estGood, but not fantastic credit 650. No other loans/debts.Closing costs are like 5k, but that includeds one month's payment as well.So is my only real option my current lender? Or should I wait? I fear waiting will put me too far in the back of the line.The driving force behing my refi is 10 year interest only portion on a 30 year loan. I am 5 years into the 10 interest only part and when I got the load I figured that since I put 20% down at the time I would be insulated from minor price drops and could refi at good time. Well that did not work So looking to refi now and not have spike in payments in a 5 years. by joecad_499_722 from Phoenix, Arizona. Mar 7th 2012
Renee Gerke GML, GRL, CRMS (Arizona_Mortgages)
#40 ranked lender in Arizona - 6 contributions
There are many companies offering the HARP 2.0. The big banks can do a "streamline" no credit qualifying. However, I'm hearing 4 to 9 months for them to process them. As a mortgage banker we offer the HARP 2.0 but you must credit qualify. We can close in 45 days or less. Closing costs are around $3500 which can be rolled into the loan amoount.
Melvin List (melvinlist)
#143 ranked lender in Florida - 124 contributions
Do yourself a favor and wait a week or so and call a local mortgage brokerage business to get a second opinion.
Zoltan Holubecz (Zoltan Holubecz)
#9 ranked lender in Arizona - 6 contributions
We will have the HARP 2.0 program avaialbe by March 19th. Currently the rate would be approximately 4.50 % and the closing costs will be around $ 2000.00. Please feel free to contact me. Zoltan Holubecz - Precision Mortgage, Inc. 623-202-3142. www.zmortgageman.com
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
Wait. It doesn't sound to me like you are getting the REAL HARP 2.0 details, but then this wouldn't surprise me that your current bank would try to pull this. In less than 2 weeks, everyone will have the HARP 2.0 program. Contact a local Mortgage Banker/Broker after the 19th and you should see a much better offer. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com
REALLY!!!, I just spent 3 months with your BBB F-rated company-that totally mishandled my loan. 5 hard credit inquries one of which was recently done after my loan was sold to another company, hard inquries stay on your credit report for 2 YEARS!! -Now I have to spend the time getting this removed from mine and my husbands credit--if that is possible--this has caused all of our credit scores to fall. 4 pay out-statments--which I HAD TO PAY FOR, my loan changed WITHOUT my knowledge, I was QUOTED a interest rate-only to find out months later--I was buying that interest rate-for thousands of dollars, I was DENIED twice by a lender, and had closing cost go from a little over $4,000 to over $8,000. Thank goodness we are financially able to cover all the cost. I am certainly NOT A HAPPY CUSTOMERS!!!! I
Ask our community a question.
Get an answer
Related Questions
