Mortgage Hackr?

Another way to think about it – Would you buy this house today for $710k? Or would you rather rent a place, or buy another house for the same amount or less?

What is the size of the house? If you’re okay with downsizing, maybe you could get a less expensive place and a smaller mortgage to have lower overall expenses (even with difference in property tax factored in).

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I’m not great expert at investing at real estate as others here and not much of trends in LA specifically but I think the main point of investment is to sell high buy low.
My personal view you are closer to “sell high” point.
It’s just my advice on internet:) lol

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@optuna That’s a great way to put it. Yes we may have to move out of the market. Thanks!

@Lvs23 It’s great advice. I definitely see the market slowing down. Not as many people driving around on the weekend for open houses this year compared to last. One person I spoke to believed that the home would be worth a million in a couple of years. Lol. I don’t know about that.

Sell the house to that guy:) Let him gamble waiting game:)

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Hahahaha! I should!

I received a loan estimate but seems like there are many double dibs in the costs section, and the broker is not clear how much out of pocket I need to come up with. Are there any loan officers, brokers that can review the document and help me??

In case you haven’t been watching, rates for a 30/fixed are in the 3.375% territory again, and I’ve seen credible offers for 15/fixed below 3%

Take a look at what you have and see if it makes sense to refinance (or if you’ve been on the fence about buying, this could be a great time).

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My bank still at 3.5. Need a little more to get them to 3.375

I just ran a 50% LTV scenario through Zillow Mortgage Rates and got a 3.19% offer on a 30 (with $5 [five dollars] in lender fees).

These offers are generally for 30-day locks.

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There is no law that says you have to use the same bank/mortgage company. :wink:

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My bank does in house mortgage rate drop without formal closing. Just sign a one page document and pay $1500.

Refinanced in Oct. To lock it in though the credit union charged .25 bps extra. Still 25bps to 50bps better than adertised rates of big banks. Any good banks with no closing costs anyone knows or credit union? They still come out at about 4k even for no closing costs mortgages.

That seems high. Ours did the same for $295, although the agreement was two pages.

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“No closing costs” is like “$0 DAS.” Neither means that costs are waived, they’re just collected from you differently.

I got the deal of a lifetime from Third Federal Savings & Loan, but that doesn’t mean you will.

In fact, of all of the purchase and refi transactions I’ve done, I’ve never gotten the best deal at the same place twice.

That’s why I love Zillow Mortgage Rates so much… you can get multiple offers for your specific scenario without handing over your contact info.

Cheaper than a full refi where you have to pay bunch of fees that will be more than $1500

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I just refinanced 34 months into my 30-year mortgage. Went from 4.125% to 3.375%, essentially zero drive-off after lender credits. Could have been 3.25% with no lender credit, but it seemed worthwhile to save sooner rather than later. Went with the same mortgage broker as my original broker; super easy process.

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During early 2015 it was briefly below 3% for 15yr fixed and that’s the lowest I’ve ever seen, I think I saw 2.75% back then.
This has been very close to that.

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Are there fiduciaries in the mortgage field similar to what they have for stocks; someone who is not paid by commission, therefore has the clients best interest at heart to help them make the most informed decision?

I’d like to explore my options as well for refinancing.

I know you pay for it in the rate. Was looking for zero DAS. Will try Zillow. I like not putting personal info.

Anyone else has reccomendations for other brokers or banks?

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I’m sure it’s wildly inaccurate but Zillow was showing me some <3% rates earlier on 15yr