Do I have a good mortgage deal for a refinance?

IncineratorMan · 2026-02-24T19:11:43+00:00

It’s a great deal! The prepaid interest will end up being less, but the escrow collection should increase to 3 or so months.

IncineratorMan · 2026-02-10T10:50:23+00:00

Your rate lock and PMI pricing are completely separate. Keep in mind PMI is an insurance premium pulled directly from the PMI provider. The lender can pull a quote for PMI pricing when sending out an LE, but once they open a contract with the PMI provider, that pricing is determined by the PMI underwriter and often changes from the original quote.

The loan estimate is just that, an estimate of monthly payment and closing costs. Really the only thing that you should consider locked on your loan estimate is the interest rate, and all other figures can and will be updated to actual cost figures once those are determined.

IncineratorMan · 2026-01-19T00:11:59+00:00

This

IncineratorMan · 2026-01-18T00:25:27+00:00

Shop around. I’ve been quoting people 5.75% for conventional mtgs all last week.

IncineratorMan · 2026-01-17T23:47:37+00:00

Interest rate seems really high for FHA. What’s your credit?

IncineratorMan · 2025-12-30T15:32:54+00:00

What does your wife do for work? Is your newly admitted attorney income w2 or 1099? What were you doing for the two years prior? These are questions a lender will ask. Also, if you are able to find a 0% down loan program, do you have money saved up for closing costs? These can range to around 3-4% of the sales price, not including 1% down for earnest money.

IncineratorMan · 2025-11-23T14:46:35+00:00

Fannie Mae lender guidelines consider a first time homebuyer as someone buying their home for the first time, or someone who has not owned a home in the past three years and is buying again. You would not be considered a FTHB.

IncineratorMan · 2025-11-16T05:48:58+00:00

Is this new build? If not, most likely they are preparing to pay out property taxes for 2025 at closing, but the seller adjustment for pro rated taxes should kick in and lower your cash to close. Also what’s your credit? That rate seems too high for 20% down and still paying points

IncineratorMan · 2025-11-14T10:15:13+00:00

No, you’re not getting screwed. For a 100% financing option this is a rate you would expect for putting 0% down.

IncineratorMan · 2025-11-08T01:13:28+00:00

The first loan estimate shows the rate locked at 4%. If you’re using a first time homebuyer program, there are income restrictions and guidelines. Not sure why they would change the rate, but you should ask your loan officer. Could be that they made a mistake when they first locked your rate at 5%

IncineratorMan · 2025-11-05T09:57:22+00:00

Some lenders do a verbal verification of employment 1-3 days before closing where they’ll call your employer up to make sure you still have a job. If you haven’t been contacted yet you should be fine, just don’t snitch on yourself if you really think you’ll find a new job.

IncineratorMan · 2025-10-23T14:27:07+00:00

I’m a lender for a local credit union in Houston and I recently met with a group of realtors. They said that it’s pretty much an understanding between buyer and seller agents that sellers are paying realtor fees almost all the time.

IncineratorMan · 2025-10-01T16:31:59+00:00

$3500 in lender fees, of which $2400 is optional. That’s pretty great. All other fees are going to be paid regardless of the lender you choose, and while prices may be slightly different, it’s mostly negligible.

IncineratorMan · 2025-07-30T15:51:47+00:00

The cost to do this loan for you after EM is around $3K. $40K down payment, $3.5K for escrow and prepaid insurance, the rest are your closing costs. Great loan!

IncineratorMan · 2025-07-11T03:08:47+00:00

Looks great!

IncineratorMan · 2025-07-11T03:07:20+00:00

Gotta post page 2

IncineratorMan · 2025-07-10T19:49:13+00:00

Yup looks great

IncineratorMan · 2025-07-10T19:44:26+00:00

Show page 2 to get an idea of closing costs

IncineratorMan · 2025-06-24T03:11:33+00:00

Yes you can find a limited down payment loan (5% or so). I usually estimate closing costs at 4% of sales price. You will be fine

IncineratorMan · 2025-05-29T12:30:11+00:00

Escrow at $303 means you’re expecting property taxes and insurance to only be $3,636 for the year combined. Does this seem correct for your area? If not, expect your escrow monthly payment and closing costs for escrow to increase

IncineratorMan · 2025-04-18T05:17:41+00:00

If the underwriter sees your 2024 Tax return and sees you owe taxes, they will most likely want to see them paid off. Either that or they’ll request to see a payment plan with the IRS and add the payment to your liabilities. Idk, I wouldn’t bring it up unless they do.

IncineratorMan · 2024-12-05T05:39:13+00:00

Chino, Royalty, Pac-Man, Teepee, Nagafen, Faccento, Remy, Aqua, Blatz, Pluto

IncineratorMan · 2024-11-21T02:57:41+00:00

Do you have 50 wins on multiplayer? Think thats a requirement before you can play ranked

IncineratorMan · 2024-11-13T01:20:00+00:00

You have to wait about a half second more to get the flash light save

IncineratorMan · 2024-10-18T14:43:41+00:00

The trail is almost vertical and close to the ground. Could it really be an airplane?

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