Refinace: Existing Mortgage

R2I_NRI · Post by **R2I_NRI** » Fri Aug 19, 2011 12:24 am

Just thought of starting this..
Just wondering how people are taking advantage of falling interest rates?
What are the strategies to get the best deal like no closing cost refi?
I just started looking will share as i find out more...hope to hear from others too...

R2I_NRI · Post by **R2I_NRI** » Sat Aug 20, 2011 7:20 am

Does anyone has experience with Quicken loan? They are asking for 500 deposit, how risky is the bet? If we don't close with them we lose, otherwise it is adjusted against closing cost.

footy · Post by **footy** » Wed Aug 31, 2011 9:44 pm

Hi,

Has anybody tried/done a refinance for their US house after moving to India? Obliged if you could share your experience...

footy

amliNagar · Post by **amliNagar** » Thu Aug 23, 2012 7:40 pm

A refinance is just a new mortgage that pays off the old mortgage. You can expect all the same fees, points and paperwork as when you got your orginal loan. If you're refinancing through the same lender, they may cut you a break on some of the documentation, and there are certain discounts you can get like a reissue rate on the title insurance, et. al. But it will be similar is cost and scope to getting your first mortgage.

Thanks a lot,
Amli