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Long time lurker, first time poster. Huge shoutout to Jon and the team at Trident. As a first time home buyer, Jon was able to provide a ton of useful info as well as give answers to questions I didn't even know I should be asking. 3.0% and I couldn't have asked for the process to go any smoother. I highly recommend Jon and Trident Home Loans!

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15 hours ago, identitytheft said:

Long time lurker, first time poster. Huge shoutout to Jon and the team at Trident. As a first time home buyer, Jon was able to provide a ton of useful info as well as give answers to questions I didn't even know I should be asking. 3.0% and I couldn't have asked for the process to go any smoother. I highly recommend Jon and Trident Home Loans!

Thank you!  Definitely enjoyed helping you and glad you were happy with everything!  

Jon

https://www.blink.mortgage/app/signup/p/tridenthomeloans/jonathankulak

Slowly but surely adding more states

THL-Locations-7-1536x864.png

Edited by Jon - Trident Home Loans

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Who is in the market for a VA IRRRL?  Give Marty Medve and his team at Trident Home Loans a call.  Trident was able to do a 2.75% interest rate with a small fee but not the 1.5 points others are charging.  I think the rate without the fee was 2.875%.  There was also a nominal lending fee of $555.  With my VA rating there was no VA funding fee.

This was one of the few times where the rate has been low enough (.5 below current mortgage) for me to be eligible.  It’s a great time to re-fi and save some money.

edit: to correct an error and for clarification.

Edited by Herk Driver

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9 minutes ago, Herk Driver said:

Who is in the market for a VA IRRRL?  Give Marty Medve and his team at Trident Home Loans a call.  Trident has a 2.75% interest rate with no points if your loan is under $510k. There is a nominal lending fee of $555.  If you have a VA rating then there is no VA funding fee.

Obviously your current loan rate has to be at or greater than .5% above the quoted rate to be eligible. It’s a great time to re-fi and save some money.

Thanks!  Just before the 2.75% no points IRRRLs spins out of control we’ve had some days when we’ve been able to do it.  Other days we’ve been at it with $550 in points but mostly we’ve been at 2.875.  It’s all Wall Street driven but our promise is we’ll always give you the beat deal possible.  Definitely a great time to look at a refi.
 

Jon

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Following up on the refi stuff, we just recently closed a VA IRRL with Trident that dropped us a half percent from the loan we initiated with them all of 9 months ago. I’d never really considered it, but Jon broke down the costs and it was basically free money. We live in CA where housing is...expensive, so 3.125 was our rate on a still-jumbo balance. However we did roll in all our funding fees so that we literally owed nothing. As was the case the first time, it was nice being able to fire off a text whenever a question popped up, but all in all it took maybe 3 or 4 total emails to get the whole thing done. 

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6 hours ago, Hugo Stiglitz said:

Following up on the refi stuff, we just recently closed a VA IRRL with Trident that dropped us a half percent from the loan we initiated with them all of 9 months ago. I’d never really considered it, but Jon broke down the costs and it was basically free money. We live in CA where housing is...expensive, so 3.125 was our rate on a still-jumbo balance. However we did roll in all our funding fees so that we literally owed nothing. As was the case the first time, it was nice being able to fire off a text whenever a question popped up, but all in all it took maybe 3 or 4 total emails to get the whole thing done. 

Thanks man!  Always nice to help a fellow Southwest guy save some money!  See you out there.

Jon

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There’s a reason why Trident keeps coming up in a lot of this forum! After reading some of the reviews, I thought I’d submit an app to see what they could offer. Happy to say that it was worth it! I put in the request on a Sunday and had a text back that same day from Jon saying he’d lock me in at my requested rate, have everything set up the next day, and have his team reach out to me for additional details and loan tailoring. The team knocked out my IRRRL refi quickly and with ease, and got me a great 3.25% rate in CO. The whole process was super painless, and they even tracked down some documents on my behalf that I seemed to have misplaced. 6/5 stars — highly recommend!

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5 hours ago, 1969RPOL36 said:

ETIC for Nevada?

Unknown sorry!  Nevada is a tricky state like AZ was for us.  We actually have to have a loan officer who works for us live in that state and then we need to open a physical branch.  It's not out of the realm of possibilities since we did it in AZ but we gotta find the right person first.  Consider it a rolling ETIC for now.

Jon

Edited by Jon - Trident Home Loans

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1 hour ago, Bryanhg007 said:

There’s a reason why Trident keeps coming up in a lot of this forum! After reading some of the reviews, I thought I’d submit an app to see what they could offer. Happy to say that it was worth it! I put in the request on a Sunday and had a text back that same day from Jon saying he’d lock me in at my requested rate, have everything set up the next day, and have his team reach out to me for additional details and loan tailoring. The team knocked out my IRRRL refi quickly and with ease, and got me a great 3.25% rate in CO. The whole process was super painless, and they even tracked down some documents on my behalf that I seemed to have misplaced. 6/5 stars — highly recommend!

Thank you!  Glad to hear you were happy with the process and rate.  Can't beat the no cost option where we bump the rate up a little bit to cover all the closing costs with a lender credit.  Nice alternative than adding extra debt especially if you don't know how long you'll own the house/when you'll PCS.  Usually adds about .25-.375% to the bare bones no points no fees rate depending on how much of a lender credit we have to give, but then you just save money without a break even point.  Different strokes for different folks.

Thanks for reaching out to us and trusting us with your refi!  Enjoy the extra cash!

Jon

850-377-1114

jk@mythl.com

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10 hours ago, Jon - Trident Home Loans said:

Unknown sorry!  Nevada is a tricky state like AZ was for us.  We actually have to have a loan officer who works for us live in that state and then we need to open a physical branch.  It's not out of the realm of possibilities since we did it in AZ but we gotta find the right person first.  Consider it a rolling ETIC for now.

Jon

No worries!  I’ll be standing by once that gets sorted.

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Does a VA IRRRL require a hard credit pull?  I'm interested in the refi to get from 3.75% to 2.875% but I'm finally with a mortgage company that has a decent website and am hoping the transfers slow down (3rd servicing company--not including the originator--in 2 years...ugh...).  

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4 hours ago, Homestar said:

Does a VA IRRRL require a hard credit pull?  I'm interested in the refi to get from 3.75% to 2.875% but I'm finally with a mortgage company that has a decent website and am hoping the transfers slow down (3rd servicing company--not including the originator--in 2 years...ugh...).  

Yes all mortgages require a hard credit pull to underwrite them.  Haven't ever seen it impact someone with good credit.  Servicing rights get sold a lot.  Our main servicer tells us they shoot for a min of 18 months and usual sell by 3yrs.  

Jon

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On 2/24/2020 at 10:19 PM, Jon - Trident Home Loans said:

Unknown sorry!  Nevada is a tricky state like AZ was for us.  We actually have to have a loan officer who works for us live in that state and then we need to open a physical branch.  It's not out of the realm of possibilities since we did it in AZ but we gotta find the right person first.  Consider it a rolling ETIC for now.

Jon

Sooo, that's  like "parts plus 2"?  Lol

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6 hours ago, stract said:

Sooo, that's  like "parts plus 2"?  Lol

lol, more like a troubleshooting ETIC...then the parts + x ETIC but definitely just stay on the hook and certainly don't cancel.

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What are the tax implications of a IRRL if you bump the mortgage amount to finance a house project? Are you selling the house to yourself and resetting the cost basis? Is the difference treated as ordinary income? 

I get a million of the spammy letters in the mail about this stuff and I haven't been super keen to pursue it, but if I could essentially finance some remodeling on a 30 yr note it'd be the smartest use of debt I could think of. 

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Jon,

Do you guys do "recasts?" Is it something you recommend? Are there special fees associated with doing a recast? Thanks in advance.

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40 minutes ago, kona4breakfast said:

What are the tax implications of a IRRL if you bump the mortgage amount to finance a house project? Are you selling the house to yourself and resetting the cost basis? Is the difference treated as ordinary income? 

I get a million of the spammy letters in the mail about this stuff and I haven't been super keen to pursue it, but if I could essentially finance some remodeling on a 30 yr note it'd be the smartest use of debt I could think of. 

Can’t do an IRRRL to get cash out cause it’s a streamline.  That’d be a VA cash out which is a full documentation loan and comes with a 3.6% VA funding fee if you don’t have disability.  Wouldn’t change cost basis and if you live in a house for 2yrs you don’t pay taxes on any proceeds.  Not a CPA though.

12 minutes ago, Royal said:

Jon,

Do you guys do "recasts?" Is it something you recommend? Are there special fees associated with doing a recast? Thanks in advance.

Yes to “recasts” but only on conventionals.  Can’t do them on government products.  It’s a one time deal within a yr of closing ($195-295 fee) and takes effect 60 days after the request/payment.

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Jon, 

Thanks for a hassle-free refinance on my investment property in SC so I could open up my VA loan when I move to CA. Quick question, when I apply for a new loan this summer will they take into account the actual required payment of $980/mo for my investment property or will they consider the fact that I pay an extra $1,000/mo for a $1,980/mo total when it comes to my debt-income ratio for figuring out the amount that is acceptable for my loan?

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Posted (edited)
34 minutes ago, VMFA187 said:

Jon, 

Thanks for a hassle-free refinance on my investment property in SC so I could open up my VA loan when I move to CA. Quick question, when I apply for a new loan this summer will they take into account the actual required payment of $980/mo for my investment property or will they consider the fact that I pay an extra $1,000/mo for a $1,980/mo total when it comes to my debt-income ratio for figuring out the amount that is acceptable for my loan?

My pleasure and thank you!  Looking forward to helping you with the new house!  Debt to income is run off min monthly payments so just the $980 will be considered.  That is what we used when we looked at the new house numbers earlier in the year.  Let me know if you need anything.

Jon

850-377-1114

jk@mythl.com

Edited by Jon - Trident Home Loans

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So what’s the deal with the feds emergency rate cut this morning? How long until the trickle down reaches VA loan applicants?

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1 hour ago, xaarman said:

So what’s the deal with the feds emergency rate cut this morning? How long until the trickle down reaches VA loan applicants?

Good question we get a lot.  The fed is totally independent from mortgage backed securities.  The fed controls short term lending where as mortgages are long term products traded on Wall Street.  Mortgage backed securities investors control mortgage rates...VA included.  If they need to get more demand then rates come down but right now the demand is crazy with VAs below 3 and conventionals just above 3.  Rates seem to have found a bottom but of the strong demand.  

It's more likely that the Fed decision will help stabilize the market and once the China virus is out of the news we'll see rates return to normal levels.  I don't have a crystal ball but that's the current commentary in our circles.

Jon

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I'm at 3.25% already. Is it worth looking into an IRRRL or have rates not gone low enough? In New Mexico if that makes a difference. 

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It's all case by case...how long you're going to be in the house, loan amount, how much closing costs would be, VA disability or not (if you have to pay the funding fee).  The VA requires a minimum of a .5% reduction too.  You're pretty darn low that you might never win with the refi depending on when you'd move/sell.  Lots of variables.  Shoot me an e-mail or call and we can get you a quote once we get some data from you.  We wouldn't recommend you do something that doesn't make sense to us.

Need:

Zip code

Loan amount

VA disability

Current rate

Primary residence or not

VA disability or not

 

Jon

jk@mythl.com

850-377-1114

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