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- acillatem86
- Contributions:19
I don't know what you're doing different than me, but I'm looking at a 15 year fixed at 4.5%, and the closing costs are $3,500ish with no impound account. I put in the amount of the current mortgage to be poayed off, which is all I'm doing.......no cash out, and the expected closing date, and got the same thing. Here is a screen shot to prove it.
http://i80.photobucket.com/albums/j161/metalliholic06/2009-02-19_100021.jpg
http://i80.photobucket.com/albums/j161/metalliholic06/2009-02-19_100021.jpg
- prfstrkr
- Contributions:259
just did it again, Closing Costs on Quote shows $4000ish ... Good Faith Estimate $8000ish ... btw, this rate is offered w/ impound ... 4.625% w/o impound
- Socialist
- Contributions:446
since Wells was so far "above the water line"
"was" is the right word...by the way, how's your stock doing this year?
"was" is the right word...by the way, how's your stock doing this year?
- Larry Jacobson, "Clearpoint"
- Contributions:1214
Can't we all just get alo...........never mind.
- Greg Darlin, "Greg Darlin"
- Contributions:3238
I was going to ignore this thread but couldn't after reading Ron Beebe's posts, especially about Wells Fargo and how the mortgage broker will not be around soon.
This thread isn't even about that debatable topic but he throws it in there.
Ron, I love your bio on Zillow. I copied a piece here: "I left the Automotive financial industry, and went into housing finance. I was able to begin as a broker and learn the ropes. What lesson learned! "Maximum yield spread" is what the ower of the company looked for. Of course, that was the opposite of my personal goal, which was to be entirely transparent to my borrowers. After a long four months, I went to Direct Lending, and first worked with GMAC Mortgage and upon their closing of all Retail Finance Ops went to Wells Fargo Home Mortgage."
How can that be so? You worked for a mortgage broker who had to by law disclose yield spread but didn't like the transperancy of it all but went to work for a lender to be, in your own words, entirely transparent to my borrowers. Isn't that a load!
You don't have to be "transparent," to your borrowers to show them how much you are making because Direct Lenders don't have to. So, where is the transparency and truth in your statement?
Please stop the spamming, posturing and nonsense. If you can give good advice, please do it and leave the transparent or indirect transparent marketing out of your posts.
This thread isn't even about that debatable topic but he throws it in there.
Ron, I love your bio on Zillow. I copied a piece here: "I left the Automotive financial industry, and went into housing finance. I was able to begin as a broker and learn the ropes. What lesson learned! "Maximum yield spread" is what the ower of the company looked for. Of course, that was the opposite of my personal goal, which was to be entirely transparent to my borrowers. After a long four months, I went to Direct Lending, and first worked with GMAC Mortgage and upon their closing of all Retail Finance Ops went to Wells Fargo Home Mortgage."
How can that be so? You worked for a mortgage broker who had to by law disclose yield spread but didn't like the transperancy of it all but went to work for a lender to be, in your own words, entirely transparent to my borrowers. Isn't that a load!
You don't have to be "transparent," to your borrowers to show them how much you are making because Direct Lenders don't have to. So, where is the transparency and truth in your statement?
Please stop the spamming, posturing and nonsense. If you can give good advice, please do it and leave the transparent or indirect transparent marketing out of your posts.
- acillatem86
- Contributions:19
prfstrkr,
I went and looked at the GFE, and typed in the loan amount and whatnot.......CLOSING COSTS DID NOT DOUBLE!!!!!! Where diod you pull that from?
I went and looked at the GFE, and typed in the loan amount and whatnot.......CLOSING COSTS DID NOT DOUBLE!!!!!! Where diod you pull that from?
- oldskoolballr
- Contributions:158
You are right. I overlooked that portion of the thread. I am not in the mortgage business so it doesn't matter how well I read a 1003.
oldskoolballr, I hope u read 1003s better than u read threads cause acillatem claimed the junket was unnecessary and I was trying to EXPLAIN (that means write out in layman format) why the junket need not be cancelled since Wells was so far "above the water line" but whatever. This conversation is quickly eroding any professionalism I try to merit.
- oldskoolballr
- Contributions:158
Nobody asked about the gov't bailout and WF. All that was said is the place sucks.
hello group, please forgive me for my hiatus being so short, but the "true trolls" have requested my presence here again.
Wells Fargo did NOT need the governments help. They were required by Paulson to take TARP funds so the other behemoths could acquire the TARP funds they needed. Now, of course, Big Brother gets to see and hear everything that goes on behind closed doors. If you were doing your due dilligence, Wells Fargo PAID the government their first dividend (LINK) and is quite well on their balance sheet. END
Wells Fargo did NOT need the governments help. They were required by Paulson to take TARP funds so the other behemoths could acquire the TARP funds they needed. Now, of course, Big Brother gets to see and hear everything that goes on behind closed doors. If you were doing your due dilligence, Wells Fargo PAID the government their first dividend (LINK) and is quite well on their balance sheet. END
- acillatem86
- Contributions:19
Sorry for the typos in my last reply.....couldn't edit my post. When I hi submit, it never submitted it.
- acillatem86
- Contributions:19
Hey Ron, as soon as my tax refund is direct deposite, I'll be leaving Wells Fargo, and going to a small local bank. After that news item where they were still sending a dozen of their executives on a junket to Vegas AFTER getting a bailout that the wtaxpaters get the bill for, I knew right then I was done. There! How do ya like them apples?
- oldskoolballr
- Contributions:158
Thanks Ron. We look forward to not seeing you in the future.
sorry forum, first time "blogger" (?????) did not know the rulez of the playground. I did notice everyone RWA to jump on the "set the stagecoach on fire Wells sucks" mantra so I will refrain from posting here in the future. You brokers are all going away real soon anyhow. (there!)
- acillatem86
- Contributions:19
Tammy,
Loan amount would be 108,000,give or take. 6 months ago the house appraised at 310,000, so maybe it's 275,000 now. Lat time our credit score was 820. Not bragging, but they always call us a slam dunk.
Oh, and prfstrkr.......I don't know what you're talking about as far as the closing costs doubling??? Crack kills.
- prfstrkr
- Contributions:259
i get AimLoan Rate Alerts daily... the rate and points seem to be wut they are currently offering ... but have you used their GFE estimater? Usually after you type in all the extra info, the closing costs will instantly double and keep in mind it's an ESTIMATE
- Larry Jacobson, "Clearpoint"
- Contributions:1214
It's a good deal take it and be happy
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Aci,
Can you give us a little more information, such as loan amount and house value? What about your credit score? We'd need to get that picture before we can really give you an answer. Generally speaking, yes it will most likely costs points to get the rate that low.
Can you give us a little more information, such as loan amount and house value? What about your credit score? We'd need to get that picture before we can really give you an answer. Generally speaking, yes it will most likely costs points to get the rate that low.
- acillatem86
- Contributions:19
My bad Larry..........I was directing that at Linda, who asked "why pay points?" My guess also is you have to pay some kind of points to get it that low.
- Larry Jacobson, "Clearpoint"
- Contributions:1214
My guess is no one. Good luck if you can get it. I have my doubts.
- acillatem86
- Contributions:19
Actually, that is yesterday. It's actually about $2,900 closing costs. Who is doing an interest rate that low with 0 points?
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Linda,
I am seeing closing costs at around $2,500.00 or less
That is a VERY general statement to make. Does that $2500 include, escrows for taxes/insurance, title company costs such as title insurance, tax cert, endorsements, loan closing fee, recording fee, etc, does it include the appraisal, lender fees, broker fees? What's the loan amount? I mean seriously, come on.
I am seeing closing costs at around $2,500.00 or less
That is a VERY general statement to make. Does that $2500 include, escrows for taxes/insurance, title company costs such as title insurance, tax cert, endorsements, loan closing fee, recording fee, etc, does it include the appraisal, lender fees, broker fees? What's the loan amount? I mean seriously, come on.
- Larry Jacobson, "Clearpoint"
- Contributions:1214
Wow the Notary has spoken. Linda you have no idea what their adjustments might be so you have no clue what your saying.
- Linda McCullough, "Notary4az"
- Contributions:6
Why pay points when the rates are already that low? I am seeing closing costs at around $2,500.00 or less - negogiate with Aimloan or go to a direct lender -
- Nic Netherton, "Colorado Lender"
- Contributions:7219
I bank with Wells Fargo and they are the absolute worst aciletem86.
Terribly expensive!
Terribly expensive!
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Ronnie Ronnie Ronnie, chill on the contact info. This is for discussions, not selling yourself.
- Larry Jacobson, "Clearpoint"
- Contributions:1214
Ron this is a no Spam Zone, do not solicite business, do not pass go, do not collect $200.
Acillatem, is it a good deal? I couldn't tell you unless I knew your LTV, laon amount, credit score, etc. How do you feel about the deal? How do you feel about the person your working with? If you feel good then you have your answer.
Acillatem, is it a good deal? I couldn't tell you unless I knew your LTV, laon amount, credit score, etc. How do you feel about the deal? How do you feel about the person your working with? If you feel good then you have your answer.
- oldskoolballr
- Contributions:158
Ron you are a troll. Take it elsewhere.
- acillatem86
- Contributions:19
I bank with Wells Fargo, and they were the absolute highest when we refinanced 6 months ago. We refinanced with Citimortgage because we were already with them, and it wasn't a good deal.
15 year fixed at 4.5% for 0.296 points with no impound account, and 3,582 closing costs. Good deal?
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