Refinancing help!

[bikeman]

Has anyone refinanced lately? I know the interest rates are down, and I would love to refinance my existing loan with Citizens while the interest rates are at a all time low. I am now at a 4.6% with Citizens, and they are offering a 3.6% fixed for 30 years, but I was wondering if anyone has used a different bank that had a better interest rate than Citizens? Surely, these other banks would love to beat Citizens rate, and when I asked Citizens about matching a bank with a 3.5%, and they said they could not. I know that there are some other banks in the area that would love to get more of the Villagers money. Any comments would be appreciated.

[cgalloway6]

There is a string of them on 441 with branches on 466 and 301. Wells Fargo, Suntrust, BB&T are just a few.

[jnieman]

Has anyone refinanced lately? I know the interest rates are down, and I would love to refinance my existing loan with Citizens while the interest rates are at a all time low. I am now at a 4.6% with Citizens, and they are offering a 3.6% fixed for 30 years, but I was wondering if anyone has used a different bank that had a better interest rate than Citizens? Surely, these other banks would love to beat Citizens rate, and when I asked Citizens about matching a bank with a 3.5%, and they said they could not. I know that there are some other banks in the area that would love to get more of the Villagers money. Any comments would be appreciated.

Call Quicken Loans or go to Quickenloans.com

They refinance lots of loans in the Villages. Everything can be done on line and they send a notary to your house to sign the final papers.

[swrinfla]

Not answering your question, exactly, but . . .

I closed this morning on a refi with Citizens at 3.75%. That'll result in an almost $300 less monthly payment from my original (dating from Jan '05).

Everything went as smoothly as it did almost eight years at my original closing. I just had to sign a "gazillion" papers (sure hope that the progressively deteriorating signature doesn't cause any problems :D).

That $300 savings will contribute nicely to my on-board cruise bar bills!

SWR
:beer3:

[ijusluvit]

Go ANYWHERE but Citizens! Not only will you be virtually assured of getting a lower rate, but likely you will not get the kind of run-around I got from Citizens.

When I was refinancing recently I was quoted a rate for title insurance which was several hundred dollars higher than it should have been. When the third "Good Faith Estimate" did not correct the figure, I had to ask for a bank manager, explain that title insurance premiums are regulated and uniform in Florida, and threaten to bring an attorney to closing before the figure was corrected.

[Roaddog53]

I agree. Anywhere but Citizens usually will have a lower rate, better closing costs, less arrogant, and helpful. Just based on my experiences and other's inquiries.

[aljetmet]

Ask the bank for a loan modification.
You should pay a small fee (about $500)and keep the terms of your loan except they recalculate payments using the prevailing mortgage rate give 1/8% to 1/4%.

I would try Wells Fargo. I called their national number and was extremely impressed.

[Lbmb24101]

Ditto on w fargo and ditto on citizens!

[Avista]

Be sure to get the rates from Insight Credit Union (Across from Sam's on 441). You may find them lower.

[2 Oldcrabs]

Have you considered a Reverse Mortgage? I thought this was a scam until I heard a speaker at a POA meeting. Per the speaker, zip code 32162 is the second highest in the country for Reverse Mortgage. Not for everyone, but worth the look. :read:

[Golfingnut]

Has anyone refinanced lately? I know the interest rates are down, and I would love to refinance my existing loan with Citizens while the interest rates are at a all time low. I am now at a 4.6% with Citizens, and they are offering a 3.6% fixed for 30 years, but I was wondering if anyone has used a different bank that had a better interest rate than Citizens? Surely, these other banks would love to beat Citizens rate, and when I asked Citizens about matching a bank with a 3.5%, and they said they could not. I know that there are some other banks in the area that would love to get more of the Villagers money. Any comments would be appreciated.

I found Citizens to be the highest rate anywhere by approx .25 %.

[bikeman]

Thanks to all of you for your responses. All I have to now is start calling and checking who might have the lowest interest rate for now.

[DENNIS G]

Has anyone refinanced lately? I know the interest rates are down, and I would love to refinance my existing loan with Citizens while the interest rates are at a all time low. I am now at a 4.6% with Citizens, and they are offering a 3.6% fixed for 30 years, but I was wondering if anyone has used a different bank that had a better interest rate than Citizens? Surely, these other banks would love to beat Citizens rate, and when I asked Citizens about matching a bank with a 3.5%, and they said they could not. I know that there are some other banks in the area that would love to get more of the Villagers money. Any comments would be appreciated.

Are you a veteran, use your va eligibility, low interest no money out of pocket, fast and easy. I used the VA Mortgage Ctr. found them online.

[SALYBOW]

Call Quicken Loans or go to Quickenloans.com

They refinance lots of loans in the Villages. Everything can be done on line and they send a notary to your house to sign the final papers.

We spoke to Quicken yesterday and they told us there would be a $5200 closing fee. They claim these fees are higher in Florida.

[buzzy]

Not answering your question, exactly, but . . .

I closed this morning on a refi with Citizens at 3.75%. That'll result in an almost $300 less monthly payment from my original (dating from Jan '05).

Everything went as smoothly as it did almost eight years at my original closing. I just had to sign a "gazillion" papers (sure hope that the progressively deteriorating signature doesn't cause any problems :D).

That $300 savings will contribute nicely to my on-board cruise bar bills!

SWR
:beer3:

How much were your closing costs? We have a 3/1 ARM, and Citizens won't do a refi until after the first adjustment. My company credit union has a better rate than Citizens, but the closing costs are $4000, so it's not worth it to refi just to get the monthly payment down a little.