r/HomeLoans

I've been thinking about refinancing my VA loan a lot lately and keep researching mortgage rate news, but I can't make up my mind about when the best time to refinance is. My current rate is 7.25% and I think a moderate drop would make a huge difference to my monthly payment. I'm seeing rates in the low 6s from some lenders, but I don't know if I should wait and see if they drop even more. I'm worried that if I do it now, rates will decrease even more and I'll end up regretting not waiting. We've only been in the house for about two years, so I'm not sure if it's too soon to refinance. Is anyone else also in this position? How do I know when the right time is to refinance?

Hi there,

I am shopping around for rates. Could you please share the best rates and where you got recently?

\* +700k condo
\* Credit score >750
\* Primary residence
\* Brooklyn, NY

Any info will help! Thank you 🙏🏻

My partner and I are first time buyers, we have the funds for a decent down payment and we found a home we love. A realtor we found through Zillow (he doesn’t work directly for Zillow but does contracting for them or something like that) has been very helpful and informative. He’s recommended we use his preferred lender and it would be through Zillow. Does anyone have any advice or experience lending through Zillow? We’re very hesitant but wanted to get other people’s perspectives. We’ve also been advised by others to use a credit union but neither me or my partner have an existing credit union account. Thoughts and advice please.

Curious what people are actually hearing around the Valley. What mortgage rate do you think would bring a meaningful number of buyers back into the Phoenix market—5.99%, 5.50%, 4.99%, or something else?

I know affordability is bigger than the rate alone: prices, insurance, taxes, inventory, and the total monthly payment all matter. But is there a psychological threshold where buyers start saying, “Okay, now I’m willing to move”?

And please don’t say below 3.5%—we may be waiting a while. For those actively shopping or talking with Phoenix-area buyers, what number would change the conversation?

I'm looking to get a loan for a new home but having a hard time finding a bank to approve me. I'm looking at any and all alternatives.

FHA could not approve me. reasons were 'Not enough credit history' 570 credit score.

I have $100k cash to put as a down payment.

All Advice welcome

Hi all! 

I’m a federally licensed Mortgage Loan Officer with Alliant Credit Union, lending nationwide with competitive online rates. I’ve been in mortgage lending for 20 years and help people make sense of one of the biggest financial decisions they’ll face. 

You’re working directly with a credit union lender, not a broker, but I shop rates like one. In addition to Alliant, I work with multiple investors to make sure you’re getting the best deal possible, including Pennymac, Mr. Cooper, U.S. Bank, Chase, AmeriHome, Freedom Mortgage, and Truist, plus access to Fannie Mae and Freddie Mac direct programs.

If you’re checking rates or weighing options, just drop a few details from the table below and I’ll send back a quick, personalized scenario. No cost, no pressure.

I usually respond within 24 hours. Your info is only used to build your scenario, and if you have questions at any point, just ask. Happy to help.

RATES CHANGE DAILY - RATES GO LIVE AT 10a CST

• All scenarios are based on:
• 30 day lock
• Payments are principal and interest only (tax, insurance, PMI not included)
• Lender Fees
  • $950 Conventional & FHA
  • $0 VA

^(Purpose)	^(General)	^(Loan Type)	^(Loan Term)	^(Property Type)	^(Property Use)
^(Purchase)	^(Property Value)	^(Conventional)	^(30-Year Fixed)	^(Single-Family)	^(Primary Residence)
^(No Cash-Out Refi)	^(Loan Amount)	^(FHA)	^(20-Year Fixed)	^(Multi-Family / max 4 units)	^(Second Home)
^(Cash-Out Refi)	^(Credit Score)	^(VA)	^(15-Year Fixed)	^(Townhouse)	^(Investment Property)
	^(Zip Code)	^(Jumbo)	^(5/7/10 ARM)	^(Manufactured)
		^(Physician)		^(Condo / # of stories)

Example of how to format your request:

• Purchase - $400k - $320k - 720 fico - 90210 - Physician- 30 Fixed - Single Family - Primary
  • [Purchase Price] - [Loan Amount] - [Credit Score] - [Zip Code] - [Program] - [Term] - [Occupancy]
• Refinance - $400k - $320k - 720 fico - 90210 - Conv - 30 Fixed - Single Family - Primary
  • [Home Value] - [Loan Amount] - [Credit Score] - [Zip Code] - [Program/Cash Out?] - [Term] - [Occupancy]

Common Questions:

• Lender credit = money from us, to you to reduce your closing costs
• Points = Cost to purchase rate
• Payment = Principal and Interest mortgage payment (monthly)

Unique Loan Programs:

• Doctor/Physician (No PMI)
• Non-Conforming/Jumbo (No PMI)
• $0 Down First Time Homebuyer
• Nurses/Medical Professional Loan Program

^(Important Mortgage Rules, Regulations & Disclosures:)
^(For Illustration Only - Not a Rate Quote or Offer to Lend - Rates and terms are subject to change)
^(Disclosures: APR equals Annual Percentage Rate. Rates and terms may change without notice. This is not a commitment to lend. Membership eligibility required. All loans are subject to credit approval and underwriting. Actual rate, APR, and costs vary based on credit, income, property type, and individual loan factors. Lending in all 50 States Excluding Maryland. No subordinate financing.)
^(Home Loan Disclosures)
^(Fixed Rate Mortgage Disclosure)
^(Adjustable Rate Mortgage / ARM Disclosure)
^(Social Media Guidelines and Disclosures)
^(Disclosure Library)

Collin Donahue | NMLS 236801
Alliant Credit Union | NMLS 197185
Contact Me & Apply Now Link

^(⌂ Equal Housing Lender | Federally Insured by NCUA)

Be cautious of unsolicited private messages from ‘lenders’ or ‘brokers.’ Do not share personal information through Reddit DMs, and please report spam/scam messages to Reddit.

I'm so overwhelmed. What is the proper way to find a reputable lender I can trust? I contacted a few from Instagram after I attended their "free webinars." But I don't know if I can trust them. Thanks in advance for any ethical advice.