Thinking about refinancing co-op mortgage, how to proceed
February 14, 2020 7:54 AM Subscribe
Currently thinking about refinancing the mortgage on our brooklyn co-op and am trying to figure out how to proceed with it.
Our mortgage is from 2015 and we could probably get a 0.75% rate drop based on current rates I'm seeing. I'm really trying to optimize for smoothness in the process, and not really sure where to start (honestly if it's too annoying/fee intensive I'd probably just drop the idea). We used a broker for our purchase and really disliked him, which has kind of turned us off to brokers.
In my head, I'm kind of envisioning some slick web portal where I could get everything clearly laid out from fees to status of various steps, etc...that would just be kind of set and forget but it seems like the only way to proceed is call around to various banks and see what their rates are, ask lots of detailed questions about fees, caveats, etc... I looked on bankrate and used some of their filters but I know from experience most of the banks there won't deal with co-ops, particularly in nyc.
So, I guess what I'm asking if anyone has an A+ recommendations for banks/bankers in new york, with a focus on a person/institution who will make the process a simple, transparent, and with the most minimal of fees as possible (not looking to pay any points, etc...) Current mortgage is with Chase if that helps.
Our mortgage is from 2015 and we could probably get a 0.75% rate drop based on current rates I'm seeing. I'm really trying to optimize for smoothness in the process, and not really sure where to start (honestly if it's too annoying/fee intensive I'd probably just drop the idea). We used a broker for our purchase and really disliked him, which has kind of turned us off to brokers.
In my head, I'm kind of envisioning some slick web portal where I could get everything clearly laid out from fees to status of various steps, etc...that would just be kind of set and forget but it seems like the only way to proceed is call around to various banks and see what their rates are, ask lots of detailed questions about fees, caveats, etc... I looked on bankrate and used some of their filters but I know from experience most of the banks there won't deal with co-ops, particularly in nyc.
So, I guess what I'm asking if anyone has an A+ recommendations for banks/bankers in new york, with a focus on a person/institution who will make the process a simple, transparent, and with the most minimal of fees as possible (not looking to pay any points, etc...) Current mortgage is with Chase if that helps.
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posted by bluedaisy at 9:45 AM on February 14, 2020