Zillow Advice RSS: Question-Discussion-Guide,All Real Estate Advice Topics,Irving- TX

What happens to my LO?

Sat, 14 Nov 2009 02:12:00 GMT

Great answers to my previous post. This is to simplify and get some understanding on our loans.

1. My loan was refinanced about 4 months ago (paid 3 installments), now my loan service was sold to a bank and in turn it went to Freddie Mac or Mae

2. Never late on payment and no defaults

3. Loan has no-prepay penalty

I have two questions, if I refinance again

a) Will the broker who helped me secure loan has to give back his compensation? if yes, please let me know with firm references on the Internet than I won't go for refi.

b) Is there a minimum period to when I do my refinance that my credit doesn't get hurt?

23 replies

What rate can I get for refi? looking for a upfront broker.

Wed, 11 Nov 2009 16:21:00 GMT

Hi guys,

I'm in TX with excellent credit scores. LTV is 52% (158K). No other credits outstanding. My previous loan is about 3 months old.

I know question is why I want to do it? Because I think I will save more money if I get a great rate and not substantial closing cost. I estimated that my (title closing would be around 1200)

Thanks.

45 replies

Is this home available?

Fri, 30 Oct 2009 00:41:00 GMT

1 reply

is there a reason why the est. of this townhouse got lowered by 20 thousand in the last 30 days?

Sat, 24 Oct 2009 05:09:00 GMT

1 reply

Inspection- who pays for repairs?

Sat, 17 Oct 2009 01:03:00 GMT

7 replies

Pros and cons - Refinance from 15yr to 30yr or 5/1 ARM

Fri, 09 Oct 2009 11:47:00 GMT

Property & current Mortgage:
Property Value: $286,000
Mortgage balance: $158,000
Equity built : $128,000
Current mortgage: 15yr fixed at 4.5% rate ($1750 monthly) with Wells Fargo

Planning/contemplating options:
Lets say I will be in the house for another 3-5 years
Considering a 30yr fixed or 5/1 ARM with monthly payments in 950-1250 range
Cash out value $70k

My main motivation for refinancing is cashing out (for investing). Also lower monthly payments. A secondary consideration is that by increasing the interest amount in my monthly payments I will get more benefit from itemized deductions (currently low).

Also want to do this while current job is in place. I know I will not be able to do it if I am out of job for any reason.

Your Advice need for:
What if any are the tax implications for the 70k cash out?
What is the low range of the refinancing fees/cost I should target for?
I am not considering points unless there is a very good reason (beyond typical reasons) to do in this case.

Any input you have on what other things I should consider given the factors above is welcome. Will help in making an informed decision.

6 replies

If I am selling through a broker, what is the purpose of offering 3% to the buyers broker?

Sun, 11 Oct 2009 21:58:00 GMT

3 replies

Is this house still on the market? Please email me details on perz4u@hotmail.com

Tue, 06 Oct 2009 02:34:00 GMT

2 replies

Is there a study or games room upstaires with the Master Bedroom that has a door?

Sat, 03 Oct 2009 06:48:00 GMT

2 replies

Dose this house have a room thats not the master bedroom on the first floor?

Sun, 04 Oct 2009 06:19:00 GMT

1 reply

Does interest rate differ with % downpayment?

Mon, 29 Jun 2009 03:00:00 GMT

Hello

Im wondering whether the interest rate differs based on the % of downpayment that i put? I live in texas and have been told with 10% down, i can avoid the PMI by doing 80-10-10.

If so, will the second loan be at a higher % or lower term?

Thanks

10 replies

Why is my improvements listed under zestimate not staying with the site permanently even after I log

Sun, 27 Sep 2009 20:15:00 GMT

on as the owner. Why did zillow take my description of the property and replace it with the porly written MLS listing description without my knowledge or consent?. The also used my photos. I really need the zestimate to show my improvements-about $50,000. worth.

0 replies

SQ FT Wrong for 1238 Nocona Dr, Irving, TX 75063

Mon, 21 Sep 2009 22:52:00 GMT

All other homes with the same model are listed with 2,967 sq ft except our house. Our's is listed with 2,928. Please correct sq ft to 2,967. Thanks!

1 reply

I am trying to upload a picture of our house, but it will not load. It is a JPEG file please help!

Wed, 02 Sep 2009 18:02:00 GMT

2 replies

How do you find an improvment pro in Irving?

Fri, 29 May 2009 02:17:00 GMT

This guy's done some excellent work at my place and I highly recommend him! dfwhandiworks.com

1 reply

Remove old photos and sale description.

Sun, 06 Sep 2009 05:12:00 GMT

My house was earlier listed for sale. Its no more in market. How do i remove the photos and seller description for the house? I dont see the existing pictures or an option to remove it. Please help

2 replies

who is the listing agent for this property?

Sat, 29 Aug 2009 22:25:00 GMT

1 reply

Would you take 300,000-even?

Wed, 26 Aug 2009 17:21:00 GMT

2 replies

is this a safe neighborhood?

Thu, 20 Aug 2009 12:31:00 GMT

I am curious about the neighborhood

0 replies

Mortgage Loan

Mon, 03 Aug 2009 17:14:00 GMT

Is it true in the state of Texas both you and your spouse have to be on a mortgage loan?

2 replies