For the most part those are not an issue and I'll go with the lowest rate you can get. Why do you want a good relationship with the bank. You will most likely never talk to them ever again after the deal. They dont care about you. You are just a number and the only thing they care about is for you to pay your monthly bill on time. However, with that said I do think it's important if this is your first home purchase to find someone who can walk you through the process step by step. There is a lot of paper work and fine print and if someone can walk you through that it would be great. So I would just call around and get a feel for someone that really wants to help and can give you a good rate at the same time. I went through a local loan officer my agent recommended for my initial purchase. He was great and even sat with me to sign every single piece of paper and explained everything during closing. I later refinanced since rates dropped and this time i went through the internet. The rates were lower but I basically got no support and in fact i had to correct several mistakes they made on a GFE and even the final HUD. But I did get a great rate but I'm sure I would have been very frustrated if I didnt know what I was doing. So if this is your first home purchase I'd recommend finding someone you can actually meet in person and avoid the internet. Good luck and congrats on ur soon to be new home.
Nice! LOL...don't even know if I'd last another 30 yrs, much less working. Anyway, it's all about retirement for me now...and boudoir photography
yes a lot of banks/lenders are doing this right now. Basically rates are actually at around 4.25% right now. If you paid closing costs you could have gotten 4.25%. What a lot of lenders are doing is rolling the closing costs into a higher rate. It's a win win for everyone though if you have a rate above 5%.
I would. Even though it's good debt.... it's debt. I don't like paying interest. I like to COLLECT interest. I like the idea of knowing that, if the $hit hits the fan, my house and property are MINE. I like the idea of my paycheck going entirely to ME (plus living expenses).
We have Chase too...we are in talks with R's friend who is a mortgage broker. Umm, I should tell hubby to call Chase and see what they can do for us. I don't want to pay any closing costs or roll closing costs into the new loan.
Did they contact you? Just how it sounds, maybe. Did they make that offer up front? I hope I can get a deal like that as mine is with Chase as well.
They sent me a letter. (Twice actually, I ignored the first one) Yeah, being younger I wanted the flexibility. I'll still pay it off in <15 years though provided I stay employed.
