All Forum Posts by: Justin Tahilramani

@Nick Gann - I agree. It's one of those situations where a bird in hand may be better than speculating. I also have another loan in process right now and the lender can rush the VA refi so that we close the purchase and the refi on the same day.

@Johnny McKeon - is the 2.75% on a NOO? When you say $0 out of pocket - how large is the lender credit you are getting?

Sound like a better deal than what I'm getting.

@Blake Garcia - no I'm not going to pull out any equity. I'm thinking of just re-investing the savings back into the principle. That will reduce the 30 year term to around 23 years.

Anyone seeing less than 2.8 on VA IRRRLs?

@Justin Tahilramani - is anyone seeing less than 2.8%?

@Theresa Harris - we do plan to keep the home as it was built as our retirement house. The VA funding fee will be about $1500 and the lender fee is around $1000.

@Tchaka Owen- thanks! That was what I was thinking. Go for the refi and just keep paying the current P&I that I am on the current loan. Seems like a win -win.

Opinion on re-finance terms:

Im currently at 3.625% with about 26 years left on a 30 year fixed.

I was offered 2.8% 30 year fixed on a VA IRRRL refinance. Loan would re-set to 30 years, but principle and interest would be reduced by about $275/month.

Original loan was 354k - refinance would be for 327k+ .05% VA funding fee.

Thoughts?

Opinion on re-finance terms:

Im currently at 3.625% with about 26 years left on a 30 year fixed. 

I was offered 2.8% 30 year fixed on a VA IRRRL refinance. Loan would re-set to 30 years, but principle and interest would be reduced by about $275/month.

Original loan was 354k - refinance would be for 327k+ .05% VA funding fee.

Thoughts?

@John Blanton - times have changed. Inventory in Fayetteville is really tight (especially sub 110k homes).