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WELLS FARGO HARP PROGRAM

Profile picture for CORONA NICK
Contributions: 2135
Zillow All-Star

Since October 2009

Well, I get a call from a rep from Wells, my current loan servicer, he asks me if I wish to refi my home, to lower my payment. He states that it wont cost me anything. So I ask him, what does he have to offer, he says 15yr fix @ 4.875% 170K, I have good LTV, FICO, INCOME.  Currently Im at a 5%.  I know they are including the cost in the rate, since rates on a 15yr fix are at about 4.5% to 4.75%.  It will lower my payment, ofcourse since my balance is lower, and it will add an extra year of payments. What do you guys think?  Anyone heard about this?
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October 28 - US

Replies (4)

Profile picture for daveskow
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Contributions: 383
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Since October 2009

 an .125% savings isnt worth doing this ( in my opinion ).......your outline sounds like you would be able to refi on a regular refi ( and not on a HARP type loan )

get a good faith est from this fellow ...shop around ....you might be able to do even better
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October 28
Profile picture for prfstrkr
Contributions: 259
even a 0.125% drop on a no-cost refi saves $$$ immediately

i don't see y not
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October 29
Profile picture for redheadrules
Corona Nick,
I found this to be a good offer for me. It lowers my rate .5% and there are no fees.  It's because i don't have a 2nd outside of Wells Fargo. My rep says that they dont' have to do a formal Appraisal or Title, which is wher e you save the money. I can't get a refi outside without paying fees. My rep called mine a HARP, EXPRESS which is the offer with no fees.

Kay
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November 03
Profile picture for Palmdale Mortgage
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Contributions: 256
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Since November 2009

 compare the annual savings on the old loan versus the new loan side by side apples to apples.
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November 06
 

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