EDU Mortgage EDU

NiggaPHX420

OT Supporter
Jan 17, 2002
50,542
Phoenix, AZ
:rofl: they are going to “preferred customers” because delinquent customers can’t get approved to refinance (because they are delinquent). They are just going through their database to find customers they can do a new loan for, and get paid on it again. At 4.375% with PMI you should definitely do it. I’m interested to hear what their terms are they offer…


Sign today, 3.95.

But that's TODAY ONLY.
 

NiggaPHX420

OT Supporter
Jan 17, 2002
50,542
Phoenix, AZ
Likely worth it. You get a double whammy by lowering the interest rate and dropping/reducing pmi with the rise in home values. However FL is an expensive state for any kind of financing, because they charge a state tax for any mortgage transaction. If it’s a long term property though, likely still worth it.

you may get an appraisal waiver, the automated system dictates that. It’s not just that someone feels like giving you a pass or not. If an appraisal is required, it may be possible to do a drive-by exterior only appraisal. Due to covid, guidelines were temporarily out in place where an occupant (or the appraiser) could request an exterior only because they had covid concerns. I’m not sure if that is still in place though…I’d have to check


Yo nigga redo my moms shit she just signed like a week ago
 

conflayz

Banned
May 31, 2018
8,157
dirtydirtysouth
Likely worth it. You get a double whammy by lowering the interest rate and dropping/reducing pmi with the rise in home values. However FL is an expensive state for any kind of financing, because they charge a state tax for any mortgage transaction. If it’s a long term property though, likely still worth it.

you may get an appraisal waiver, the automated system dictates that. It’s not just that someone feels like giving you a pass or not. If an appraisal is required, it may be possible to do a drive-by exterior only appraisal. Due to covid, guidelines were temporarily out in place where an occupant (or the appraiser) could request an exterior only because they had covid concerns. I’m not sure if that is still in place though…I’d have to check
Cool. I think Im going to reach out to my broker guy about it! I want that double whammy!
 

conflayz

Banned
May 31, 2018
8,157
dirtydirtysouth
Likely worth it. You get a double whammy by lowering the interest rate and dropping/reducing pmi with the rise in home values. However FL is an expensive state for any kind of financing, because they charge a state tax for any mortgage transaction. If it’s a long term property though, likely still worth it.

you may get an appraisal waiver, the automated system dictates that. It’s not just that someone feels like giving you a pass or not. If an appraisal is required, it may be possible to do a drive-by exterior only appraisal. Due to covid, guidelines were temporarily out in place where an occupant (or the appraiser) could request an exterior only because they had covid concerns. I’m not sure if that is still in place though…I’d have to check
Should I reach out to the guy whos done my previous mortgage or should I be looking at going directly to banks and applying?
 
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saabguy

saabguy

Saab-free since 2013. Mortgage guru
OT Supporter
Aug 11, 2003
22,564
Loserville. Population: 1
Should I reach out to the guy whos done my previous mortgage or should I be looking at going directly to banks and applying?
You should go to lendingtree.com, fill out their “I’m interested in refinancing!” form, and you will be contacted by a reputable and well qualified mortgage advisor/professional.

if you’re not able to talk when they call, don’t worry! You will get called 96 times by that person and whomever else lendingtree sells leads to!
 

conflayz

Banned
May 31, 2018
8,157
dirtydirtysouth
You should go to lendingtree.com, fill out their “I’m interested in refinancing!” form, and you will be contacted by a reputable and well qualified mortgage advisor/professional.

if you’re not able to talk when they call, don’t worry! You will get called 96 times by that person and whomever else lendingtree sells leads to!
but why lendingtree over the guy Ive used twice already, or going o chase etc?
 

conflayz

Banned
May 31, 2018
8,157
dirtydirtysouth
Last question for now.

My credit score is in the high 790-815 range. I recently charged some larger items on one of my CC's (5k total which is like 6% of total usage) no other balances on anything else. Should I pay this down before reaching out to my broker? I have the money in my savings so I can, but of course would prefer to take my time.
 
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saabguy

saabguy

Saab-free since 2013. Mortgage guru
OT Supporter
Aug 11, 2003
22,564
Loserville. Population: 1
Last question for now.

My credit score is in the high 790-815 range. I recently charged some larger items on one of my CC's (5k total which is like 6% of total usage) no other balances on anything else. Should I pay this down before reaching out to my broker? I have the money in my savings so I can, but of course would prefer to take my time.
No. It won’t matter. Your credit is fine.
Chase sucks. That’s not exclusive to chase…big banks overall suck. Try the person who helped you before. That’s a good place to start. Please share what they are offering you, I’m just curious to see what other people are quoting these days…
 

conflayz

Banned
May 31, 2018
8,157
dirtydirtysouth
No. It won’t matter. Your credit is fine.
Chase sucks. That’s not exclusive to chase…big banks overall suck. Try the person who helped you before. That’s a good place to start. Please share what they are offering you, I’m just curious to see what other people are quoting these days…
Awesome. I figured I would ask. I know that when I was buying my home(s) that I paid down everything, so I wasnt sure if it were different.

I will let you know... and also ask if its a good deal lmao
 
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saabguy

saabguy

Saab-free since 2013. Mortgage guru
OT Supporter
Aug 11, 2003
22,564
Loserville. Population: 1
Awesome. I figured I would ask. I know that when I was buying my home(s) that I paid down everything, so I wasnt sure if it were different.

I will let you know... and also ask if its a good deal lmao
It’s weird. People with great credit always panic “should I pay off my card first??? I just bought groceries yesterday so it will show a balance of $150!! Is that bad??”

people with shit credit I pull a 478 score and they bitch “oh damn, how many pernts did your hard inquiry take away? I knew I shouldn’t have let you pull it.”
 

conflayz

Banned
May 31, 2018
8,157
dirtydirtysouth
It’s weird. People with great credit always panic “should I pay off my card first??? I just bought groceries yesterday so it will show a balance of $150!! Is that bad??”

people with shit credit I pull a 478 score and they bitch “oh damn, how many pernts did your hard inquiry take away? I knew I shouldn’t have let you pull it.”
We deal with that all the time at the dealership. :rofl:
 

conflayz

Banned
May 31, 2018
8,157
dirtydirtysouth
I just want the best rate I can get, and I dont want to start the process and get the inquiry when I already know that I may have to do something. Ive worked very hard on this score lol.
 
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saabguy

saabguy

Saab-free since 2013. Mortgage guru
OT Supporter
Aug 11, 2003
22,564
Loserville. Population: 1
I just want the best rate I can get, and I dont want to start the process and get the inquiry when I already know that I may have to do something. Ive worked very hard on this score lol.
You know the basics of credit from the dealership, yes? An excellent credit history will not get undone simply by having 1mo of higher than normal charges. Especially if your utilization is still only 6%. Won’t even register as a blip on your score.
 

conflayz

Banned
May 31, 2018
8,157
dirtydirtysouth
You know the basics of credit from the dealership, yes? An excellent credit history will not get undone simply by having 1mo of higher than normal charges. Especially if your utilization is still only 6%. Won’t even register as a blip on your score.
Yes true, I just remember being told to pay down stuff before. I had a good credit score but not solid history. Now I have a house showing paid, a car, and my current mortgage.
 

conflayz

Banned
May 31, 2018
8,157
dirtydirtysouth
Smoll update:

Because my property is now a rental property / investment I wont be able to get the lowest rate(s) but still hoping / shooting for at least $200 less a month. I just submitted my application, and authorization to run credit, plus all my financials etc.

Hopefully will hear back from him soon.
 
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