heads-up on (good) mortgage rates

heads-up on (good) mortgage rates

Joined: August 21st, 2006, 3:29 pm

February 17th, 2012, 4:29 am #1

Hi, all,

In case anyone (else) out there is thinking of a refi, Pentagon Federal Credit Union has 30-year fixed rates of 3.75 with 0 points right now. You have to join -- oh, I can't think of the name, but some organization that serves military families -- if you want to join PenFed and aren't military, but it's a good cause, one-time fee, and only around $15 or $20. They have other attractive rates also but I've been eyeing the 30-year. There are lower rates for that time period, too, if you want to pay points.

The PenFed website ishttp://www.penfed.org . We've had our mortgage with them for about 3 (?) years and while honestly they aren't the absolutely most on-top-of-it group I've ever worked with (they've sometimes been slow in adjusting escrow up or down, for example), I have no significant complaints about their services.

Best wishes,
Alex
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Joined: January 24th, 2007, 2:25 pm

February 17th, 2012, 5:05 am #2

sounds great! looking into this now.
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Joined: September 19th, 2010, 9:20 pm

February 17th, 2012, 4:32 pm #3

Hi, all,

In case anyone (else) out there is thinking of a refi, Pentagon Federal Credit Union has 30-year fixed rates of 3.75 with 0 points right now. You have to join -- oh, I can't think of the name, but some organization that serves military families -- if you want to join PenFed and aren't military, but it's a good cause, one-time fee, and only around $15 or $20. They have other attractive rates also but I've been eyeing the 30-year. There are lower rates for that time period, too, if you want to pay points.

The PenFed website ishttp://www.penfed.org . We've had our mortgage with them for about 3 (?) years and while honestly they aren't the absolutely most on-top-of-it group I've ever worked with (they've sometimes been slow in adjusting escrow up or down, for example), I have no significant complaints about their services.

Best wishes,
Alex
I appreciate you posting this as I have been considering re-fi for my condo that I rent out.  I went onto their website and saw that they offer re-fi for investment properties (not the easiest thing to secure!).  I called but unfortunately, they don't allow condos for their investment property mortgage programs. 
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Joined: August 21st, 2006, 3:29 pm

February 17th, 2012, 5:36 pm #4

Mrs. A.,

Oh darn, sorry that doesn't meet your needs! I do know primary residences are much easier than pretty much anything else -- I've been wanting to bug my brother to refi a townhome he now rents out but am not sure he can because of what you mention.

Best wishes,
Alex
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Joined: September 29th, 2010, 9:51 pm

February 17th, 2012, 11:45 pm #5

Hi, all,

In case anyone (else) out there is thinking of a refi, Pentagon Federal Credit Union has 30-year fixed rates of 3.75 with 0 points right now. You have to join -- oh, I can't think of the name, but some organization that serves military families -- if you want to join PenFed and aren't military, but it's a good cause, one-time fee, and only around $15 or $20. They have other attractive rates also but I've been eyeing the 30-year. There are lower rates for that time period, too, if you want to pay points.

The PenFed website ishttp://www.penfed.org . We've had our mortgage with them for about 3 (?) years and while honestly they aren't the absolutely most on-top-of-it group I've ever worked with (they've sometimes been slow in adjusting escrow up or down, for example), I have no significant complaints about their services.

Best wishes,
Alex
Thanks for the tips! Let me know if you think of the organization that you joined. Seems interesting. Though we are hoping to move in a few years a refi isn't a bad idea!
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Joined: August 21st, 2006, 3:29 pm

February 18th, 2012, 3:49 am #6

Rebekah,

I dug it out -- the info. is here: https://www.penfed.org/howToJoin/overview.asp . The one we used was #8, but there are some other good options that would appeal to many, including giving blood to the Red Cross.

Penfed charges 1% of the total borrowed (not points, but a fee for originating the mortgage?), so depending on how long you'll be in the home this may or may not make sense.

Best wishes,
Alex
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Joined: September 29th, 2010, 9:51 pm

February 20th, 2012, 9:55 pm #7

Thank you nt
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