Refinance GFE

[Daddy]

I have been through the process of refinancing 2 times, and both times, something happened to stop it. This time, I am going with a company called AimLoan. They are doing the Making Home Affordable Refinance Plan at 105%. On a 20 year mortgage, my payment will be less than it currently is on a 30 year. I will go from 6.875% to 4.5%. I REALLY pray that this is it!!!

 

I was going to work with one of the wonderful brokers on here, but AimLoan is one of the only lenders around offering 105%.

 

Please review and let me know what you think. THANKS!!!

 

This will confirm that your loan has been locked as follows:

 

 

 

Loan Amount: $152,250.00

 

Estimated Value/Purchase Price: $145,000.00

 

Loan to Value: 105.000%

 

Combined Loan to Value: 105.000%

 

Loan Program: 20 Year Fixed Rate - Home Affordable Program

 

Interest Rate: 4.500%

 

Points (if any – in dollars): $ 0.00

 

Points (if any – as a percentage): 0

 

Rebate (if any – in dollars): $761.25

 

Rebate (if any – as a percentage): 0.500

 

Prepayment Penalty: None

 

Impound/Escrow account: Yes

 

Lock Expiration Date: 10/08/2010

 

 

 

Good Faith Estimate

We are pleased to provide this Online GFE. You may apply and lock in your rate and fees online any time, 24/7.

 

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Good Faith Estimate Assumptions

Annual Real Estate Taxes: $3,600

Estimated Closing Date: 10/08/2010

Mortgages to be paid in full: $150,800

 

Good Faith Estimate:

Mortgages to be paid with this loan $150,800.00

Guaranteed Origination Fee $1,995.00

Your credit for this interest rate ($761.25)

Services We Select $325.00

Guaranteed Appraisal Fee $325.00

Guaranteed Closing Agent and Lender's Title Insurance $1,126.02

Services You May Select $325.00

Survey $325.00

Guaranteed Govt Recording Charges $108.00

Escrow/Impound Account Deposit $4,381.26

Prepaid Interest $285.47

Your new loan amount ($152,250.00)

Estimated Cash Required at Closing $6,334.50

 

Important Notices

 

* NO PREPAYMENT PENALTY! PREPAY YOUR LOAN AT ANY TIME!

 

* AimLoan.com charges one Guaranteed Origination Fee which includes processing, underwriting, credit report, doc prep, funding, tax service and flood cert.

 

* AimLoan.com has negotiated a Guaranteed Appraisal Fee with certified residential appraisers in your county.

 

* AimLoan.com has negotiated Guaranteed Closing Agent and Lender’s Title Insurance fees with major title companies throughout the country.

 

* Initial Escrow/Impound Account Deposit represents the funds to be collected at close to establish an account for the payment of your property taxes and homeowner's insurance renewals when they become due.

 

* Prepaid Interest represents interest from the day you close until the end of the month in which you close and is estimated at 15 days interest.

 

* You may lock this rate and guaranteed closing costs online, anytime 24/7. To do so, simply Complete an Online Application which takes about 20 minutes. Upon submission, you will be given an opportunity to lock your rate.

 

* Amounts based on information you provided. You have indicated that the purpose of your loan is to refinance the existing mortgage. The loan amount you desire is $152,250 and the estimated value of the property is $145,000. The property is located in the County of Tarrant, State of Texas. The property is an existing single family home and you use it as a primary residence. The loan is a 20 Year Fixed - Home Affordable Program and an escrow/impound account is being established for the payment of your taxes and insurance for the payment of your taxes and insurance. If this information is not correct, please Change Information and Search Rates.

[Daddy]

One more thing: My middle score is 730 and wife's is 720. So of course they are using the 720.

[DallasLoanGuy]

no way to know on the rate..... since i havent seen adjustments for that program.

 

with par rates around 4% on a 20yr..... this looks like a winner

[Daddy]

OK, great!!! Thanks DLG. I appreciate it!!!

 

Just gotta pray the appraisal comes in clean!