Mortgage Brokers

With rates as low as they are, I am contemplating a refinance.......

Has anybody had any good experiences with local Mortgage Brokers?

 

We had a good experience with Marco Umana at Prosperity Mortgage which is a Long & Foster company: https://www.homeloans.com/loans/marco-umana/index.page

 

Are there any of you in/around Broadlands who was able to successfully refi with less than 20% equity? I am trying to refi my year and half old mortgage (10% equity...house prices have dropped around 20% since we purchased) but not having much success finding any mortgage broker?

 

The husband of a friend of mine is a mortgage loan officer and a really nice, honest guy.

[FONT=&quot]Marc Aymard[/FONT]
[FONT=&quot]Mortgage Loan Officer[/FONT]
[FONT=&quot]Bank of America[/FONT]
[FONT=&quot]2936 Chain Bridge Road, Ste 300[/FONT]
[FONT=&quot]Oakton, VA 22124[/FONT]
[FONT=&quot]703-728-1759 - Mobile[/FONT]
[FONT=&quot]703-319-5672 - Office[/FONT]
[FONT=&quot]866-923-5409 - Fax[/FONT]
[FONT=&quot]marc.aymard@bankofamerica.com[/FONT]

 

I was thinking of going to INtercoastal as they have VM friendly appraisers...... we have the same flipping issue

 

I have used Heather Devoto at First Home Mortgage myself and most of my clients have used her. She does a great job because she has over 10 years experience being one of the top producers in the country. You can check out her web sight at: http://www.heatherdevoto.com I only refer her because she has the best rates and keeps my clients happy. She does not compensate me in any way.

 

We are refinancing. We got great service from Town & Country Mortgage, 703-250-4418. We got a great rate: less than 5%, no points, 20 years. They beat our previous mortgage broker. He was extremely fast, start to closing: less than 2 weeks.

-Jim

 

I will never go with Intercoastal again...we had a terrible experience with them when we bought our VM home. The only reason we were forced to stay with them were the sweeping discounts we wouldn't have seen if we had brought our own broker.

Intercoastal is a front to another firm which then sells the loan to another firm and finally it ends up with US Bank...think of all the middle layers and how much fat commission has to be paid at every hop!

If only I was able to find a honest mortgage broker which sounds like an oxymoron to me!! I am sure there are some good ones out there...but so far I haven't come across one!

General question to all -- Do all of you who are refinancing have at least 10% or more equity on your homes? Thanks!

 

We worked with Ros Cohen at MarketStreet Mortgage in Fairfax for our first two homes. Her rates were competitive and she was a pleasure to deal with. For the best rates, I've found that WellsFargo seems to be the gold standard.

 

We used Erin Hill at George Mason. She was so helpful when we bought our home and now are refinancing through her.
What I liked about George Mason was you could often get a loan with NO origination fees Her contact info is 703 - 669 6690.

Staci

 

I currently have a 30yr fixed @ 5.75% with National City (almost 2yrs into current loan). Based on current rates, can anyone tell me if I should consider refinancing? I should still be well under 80% LTV even after home price declines lately and I have excellent credit so I'm not concerned about being approved for a loan.

A friend told me the other day that some lenders are offering "no fee" refinancing. I'm not sure if Nat.City does this, but will be calling soon to find out. I'd really like to avoid paying any points or closing costs to get this done.

 

I was in the same boat and refinanced recently (still yet to close) and was able to get 5.25% with no closing costs. I had been monitoring the rates for awhile and jumped when the govt. said they were going to be buying mortgage securities. Lately the rates have crept up because from what I understand much of the lenders' staff are on holiday and in order to reduce the backlog and number of loan requests, they simply raise the rates to get a breather. I would call and find out just to kick the tires, there has to be someone out there wanting to make commission.

 

Sure you can get a loan without origination fees, but then they just roll the fees into the equation when determining your interest rate.

 

About 3 years ago, we refinanced from an ARM to a 30 yr fixed at 5.25% and used Lending Tree through our Costco membership. It was great. We ended up working with a broker that got us the great rate with no points and only a cost of about $500. Plus we got $300 in Costco gift cards so we actually paid only $200. You can fill out the form online and people will get in touch with you.

 

We closed today. Will Roberts at Town & Country Mortgage (703-250-4418) works fast. We had the loan application, appraisal, and title work all done within a week. This allowed some comfort as we waited for the paper work to complete so that we could fix on a 12 day lock and this took another 1/8 off the rate. Will and his processor Jim took the time to walk us through each step. He works with a number of lenders and set us up with the one that offered the best package.

-Jim

 

I am in year 5 of a 7 year arm, (fixed for first 7 years, then adjusts every year for the next 23), I am also shopping for a 30 year fixed. Do I look at the APR or the interest rate? Some have a big spread between the two rates. Anybody finding fixed 30 years at 4.5% yet?

 

isn't the APR a good indicator since it figures in all the fees?

 

I applied at Costco.com (Lending Tree) - we'll see what happens...$300 rebate is a nice bonus! Thanks for the tip.