thirdgen

iTrader: (26)

I keep getting crap in the mail from Quicken Loans, and it looks like the rates are really low. They are JD Power and Associates ranked "Highest in Customer Satisfaction for Primary Mortgage Origination". Just wondering how legit these guys are...
Anyone deal with them or know anybody who does / did?

y8s

iTrader: (8)

my theory is this: if they have extra budget to spend on spamming you, they are costing you more than you should be spending.

if you're talking home refinance, talk to a local broker for five minutes on the phone and ask him about quicken loans.

rates will be fairly comparable/similar everywhere.

samnavy

iTrader: (7)

For side info.
My mortgage company, PNC, called me yesterday after I visited the website looking at rates. They were just doing a followup to make sure I was happy with my current loan and their service.

I told them that with the impending election and uncertainty about the future of interest rates that I was interested in refinancing NOW, and was researching rates.

ON THE SPOT, he offered me a no-fee refinance from my current 5% to 4.25%. He was obviously a salesman, but was very clear why they wouuld offer me this.

He says the mortgage industry expects rates to climb slightly in the near term, and then to drop again late summer. He says that with the Presidents SOTU address, they have been inundated with refi's and people are jumping ship to whatever the lowest rate is... and that it would cost us about $6500 to refi at 4% with another company, but they'll give us 4.25% for free to ensure they keep our business.

The paperwork will be here Thursday, so I've got until then to decide. This takes my $345,000 loan (including insurance) down to $2027 a month.

mgeoffriau

iTrader: (7)

Cutting my rate from 5.25% to 3.825% right now...

I got all those same offers from Quicken Loans and various other lenders. When I decided I actually did want to refi, however, I called a trusted home loan specialist who handled refi's for friends and family members.

Quicken Loans may have a fantastic customer service department for all I know, but I want to deal directly with one person who is responsible for making things work for me.

thirdgen

iTrader: (26)

Holy crap! No offense, but I feel great knowing that I owe like $140,000 and I'm debt free.
I haven't refinanced since 03 and I am at 6.5% fixed, and have 21 years left. I'd like to refinance to a 15 year at a lower rate, but we'll see what happens. Thanks for your opinions guys! I'll have to check with the credit union at work, or maybe even my bank.

rleete

iTrader: (21)

Are you looking to refinance or just get a loan? I have a home equity line of credit (HELOC) from my local credit union. I think the rate (variable) is something like 2.39%, and all I have to do is write a check. I can use it for anything, and it's mostly for home improvement projects, but I also used it to buy the Miata and my wife's car. Where else can you get a used car loan under 2.5%, and take as long as (or as short as) you want to pay it off?

No closing costs when I did it, and the rate has always been excellent.

y8s

iTrader: (8)

I just signed papers for 3.75% on Friday. And for a bigger loan that Sam. And with no closing costs. Just half a month of prepaid taxes.

And what's funny: we refinanced last year for 4.75 from the 5.75 we got in 2008. But since we're never leaving this house... I'll take the monthly decrease.

thirdgen

iTrader: (26)

I am possibly looking to refinance just for the fact of getting a shorter term with a better interest rate.

Faeflora

iTrader: (2)

Todd, I tried to do a refi with QL last year. Had some problems that weren't necessarily their fault and it didn't come through. They were legit and pulled no surprises.

I shopped around using zillow mortgage comparison and found goodmortgage.com to be cheapest. I'm in underwriting with them now. So far, they have been fairly quick and responsive.

I recommend using zillow mortgage to comparison shop and then read the reviews. Pick a company with a lot of reviews and a lot of gold stars.