Central Pennsylvania Nesties
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Mortgage re-fi ?s
Has anyone around here refinanced their mortgage lately? DH and I are thinking about it, we bought last July at 6.375% but we're afraid the appraisal might come back lower since housing is supposedly going down (we're on the West Shore, not sure what it's really doing here, doesn't seem like listing prices have gone down)... has anyone had any experience with that? If you have refinanced, who did you go through, how long did it take, and would you recommend them? TIA!!
Re: Mortgage re-fi ?s
We're exploring the options now. Just had our new appraisal (east shore) done last week, and we're waiting to see what it comes back at.
We bought a year ago (Jan. 11, matter of fact) at about $15,000 under the old appraisal value and we did a lot of work to our place in the past year, so we're hoping our appraisal comes back at or $10,000 higher than last year's appraisal. Should know shortly.
Our mortgage guy is setting all the pieces in order (gathering appraisal, bank statements, tax forms, old mortgage info, credit ratings, etc.), so that if rates drop again like they did a couple of weeks ago, we're ready to lock in and do it. Other nice thing about going through Fred, although it's small, is that we didn't pay for the appraisal at the outset. He's confident re-fi will benefit us, so he'll wrap that $300 into closing costs.
We use Fred Behney. He's independent broker, so he has the ability to "shop around" for rates & lenders. He's done great work for us with our past two home purchases, and I'd recommend him in a heartbeat. Let me know if you want his contact info.
Hi! DH and I refinanced last year, but we had to. We had a mortgage with an arm, and payment options. We were actually losing money on our house. I think we bought at 8% and refinanced around 6%. I could ask DH who we used, but I will say (and I'm not completely sure how much interest rates have dropped) there are many things to consider before you refi. We had to pay for our appraisal, which was around $300. Some agencies charge you more. Also, the closing costs which are a few thousand dollars, which very I think between $6-10,000. We have a MUCH better mortgage now, and I'm so glad we refinanced, but I probably won't do it again with this home as we will probably sell in 5 years.
Because of the state of the housing market, you may be able to find a lender who will let you refi without paying closing, etc....but we weren't.
Just wanted to make you aware of all the refi costs that you don't usually think of!
Good luck on your search!
Thanks, it was a lot of work. Miserable three weeks, but family and friends who are painters, carpenters, electricians, builders, carpet layers, etc. made for cheap labor and contractors' discounts on materials, and we are soooo glad to have done it all at once!