Mortgage Company Reviews

Union Home Mortgage Review – How To Know When To Refinance Your Mortgage

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Union Home Mortgage Review – Review

Andrea asks Dave when he thinks it makes sense to refinance a mortgage.

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49 Comments
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49 Comments

  1. The Shark
    July 25, 2021 at 7:27 am

    What if there are no closing costs?

  2. Jimmy Spiteria
    July 25, 2021 at 7:27 am

    15 year fixed lol have a day off lad , no banks doing that, stay on a variable.

  3. M Hartman
    July 25, 2021 at 7:27 am

    Hey Dave, I'm from the future and I just refinanced to fixed 2.25% for $1684 using a VA Mortgage Refinance (Funding Fee Exempt).

  4. tatakai no kaizen
    July 25, 2021 at 7:27 am

    thank you so much for uploading this! i was on the fence about my refinance, but this is so much simpler it really took all of the guess work out of it for me. Thank you so much!

  5. IPR show
    July 25, 2021 at 7:27 am

    $164000? Where are this people calling from? I’ll be in heaven with a mortgage like that

  6. Realist915
    July 25, 2021 at 7:27 am

    I'm going to refinance a 3.75% to 2.25%.

  7. DIY Tacoma
    July 25, 2021 at 7:27 am

    We refinancing they told me that could be as lowest as 2.5

  8. Martha Hernandez
    July 25, 2021 at 7:27 am

    How about the amortization schedule!!!?

  9. William CRAZY LACY Furmage
    July 25, 2021 at 7:27 am

    I need some advice. My interest rate is 5.75 on a 30 yr loan I got in 2005 for a $86,000. Is it good to refinance the 14 yrs I have left to a 15 yr at 2.5% to 2.99% interest? As of now my P & I is $501, $275 goes to interest and $226 goes to principal. I just started 5 months ago tossing another $200 a month into the loan. I think I should stay the course and keep tossing $200 to $300 into the loan to pay it down faster. Lenders I've talked to said if I refinance, my new P & I would be $380. BUT, you know when you start over with a new loan, the new payment is MOSTLY interest being paid. Because of that, I think I should just not refinance. I owe $56,000. House Value on Zillow is $269,000. Any advice would be great. I want a 10 yr loan, but I'm told I don't qualify.

  10. Selena Cruz
    July 25, 2021 at 7:27 am

    Dave should've asked her how many years she has on her mortgage left. What if she just got the mortgage? To refinance her loan to a 15 year term is going to cause her to pay more monthly. He should've asked her more questions lol

  11. CDLER GOMEZ
    July 25, 2021 at 7:27 am

    Dave . What do you think about steam line financing ?
    I am on my third year with a 30 yrs loan.
    Iam planning to stay in my house for a while

  12. Brace yourselves for truth
    July 25, 2021 at 7:27 am

    VA isn't more expensive if you have a 10% or higher disability rating. No origination fees.

  13. Zoe Wimmers
    July 25, 2021 at 7:27 am

    Great video! This is a common topic I go over with my clients when refinancing them.

  14. Jonathan Navarro
    July 25, 2021 at 7:27 am

    I just refinanced 4 months ago frm a 3.675 to a 3.365% with the intention to drop the PMI! Now my question is should I refinance to a 2.5%. Or just stay where I’m at? Thank you in advance!

  15. Eric Gauthier
    July 25, 2021 at 7:27 am

    If they sold my mortgage to another company WITHOUT my consent , then THAT COMPANY paid for my home already , so THEY should pay the mortgage from now on

  16. Sirhan Reid
    July 25, 2021 at 7:27 am

    Hey Dave, how you doing..
    Got a question, I was shopping around for a lender to refinance. My credit score is 798..equity in the home is around 300k. After talking with several lenders. Started the process with one, let's say lender a. Lender b called to see what was happening. I told them I had a better offer than with a. At their request I sent lender a's proposal. Lender b came back with slightly lower interest, lower monthly payment and lower closing. I went with b. Thing is, after finishing the documents needed to start the process. They sent me a new proposal, with an increase of closing of 734 dollars. I asked why, I haven't gotten a response yet. Do i have any recourse at all?

  17. Low Maintenance Momma
    July 25, 2021 at 7:27 am

    Is it good idea to pay the closing costs out of pocket right away instead of adding it to the payments?

  18. nidia cheeld
    July 25, 2021 at 7:27 am

    I have a loan mortgage for 173.00 interest rate is 3.62, is a FHA Mip, house value at 285,000 I would like to removed the FHA loan to a 15 yr home loan, How I do that. Thank you

  19. resinsmp
    July 25, 2021 at 7:27 am

    Don't forget to include the appraisal fee or any others with the origination fee when calculating the break even point.

  20. Abel
    July 25, 2021 at 7:27 am

    I used to listen to Dave Ramsey show after coast to coast am when I was 14 im 25 now and I have the best credit a home and cars with low APR thank you Dave

  21. E. RiVeRa
    July 25, 2021 at 7:27 am

    Be very carefull with this…i have 4% and the bank is offered me 3.5% ….that is crab…considering my high credit score and equity…so be carefull with lenders , brokers, etc..they will rip you off with the closing costs. At this moment i'm looking for a better deal.

  22. Jake Olson
    July 25, 2021 at 7:27 am

    Dropping 1%!? Of course that’s worth it in all scenarios.

  23. angel cabrera
    July 25, 2021 at 7:27 am

    The Dave Ramsey Show – What's included in closing costs? Total Closing Costs? Or exclude things like homeowners insurance premium (prepaid) and Property taxes (predpaid)? Or just using TOTAL closing costs no matter what it includes?

  24. Rob's AutoDetail
    July 25, 2021 at 7:27 am

    Question. I have a 230k original loan. My principle owed is 210k. If I refinance, am I refinancing 230k again at a lower interest rate? Or is it 210k being refinanced? It would make sense its 210k right?

  25. C Ju
    July 25, 2021 at 7:27 am

    When you buy a house or refinance, void PMI. PMI is a scam designed to protect banks at homeowner's expense. The excuse banks use is that less than 20% down payment is more risky for them. So the homeowner is at fault for them incurring higher risk. Would you pay bank CEO's car insurance because his changes of colliding with you on the road increases when you drive?

  26. Anthony Perez
    July 25, 2021 at 7:27 am

    It’s going to take me 6.6 months to break even.

  27. King RoB ThE GreaT
    July 25, 2021 at 7:27 am

    But this guy is not factoring in that sh can pull cash out if she has equity in her home! c;mon man

  28. William Waters
    July 25, 2021 at 7:27 am

    This guy is a joke, never refinance your mortgage. Get a 30 year fixed and make a payment as a 15 year. If things get tight you can always just pay the 30 year amount.

  29. kivigray0423
    July 25, 2021 at 7:27 am

    Sooooooo helpful! Thank you!

  30. Ray C
    July 25, 2021 at 7:27 am

    I need advice please .
    I have a 4.15 rate .
    I have been offer 2.25 fha loan .loan amount 253 including the closing cost
    Closing cost 18 grand .
    I have another bank is giving me 2.75 rate at 234 thousand plus 11 thousand fees .i planning to stay 20 years .
    Please help me out which choice will be right for me
    Any re

  31. B Don
    July 25, 2021 at 7:27 am

    Thank you for the video..looking for advice. Bought a home for 264k (275k total with seller assist for closing costs), 4.75% 30 year mortgage in March 2019 VA, after ongoing a horrible divorce, chapter 7, foreclosure, etc years earlier, I had experiences a complete financial disaster that I am trying very hard to recover from. I have been looking into refinancing VA IRRRL…but seems to still be way to much in closing costs and fees to make sense even at 2.5% . Saw your video and was considering doing a Recast.. Problem, I dont believe that VA allows Recasting, saw that info on another youtube video somewhere.. The VA also makes the IRRRL streamline option look simple and inexpensive however a few refi companies seem to make their own rules and fees up, I after much frustration I out this all on hold. Lastly to throw I the mix…. I have a $29k solar panel loan 5.6% that includes a lien on my home until the system is paid off. I was also looking into doing a cash out refi, or getting a loan that will pay off the solar that I could incorporate into my mortgage. Have about 28k in checking and a car lease w 2 years left at high interest that I would like to try and lower or pre pay… any help would be greatly appreciated. Thank you again.

  32. Zoe Wimmers
    July 25, 2021 at 7:27 am

    It's important to know when it is the right time to refinance and that's what I walk my clients through all the time. Go Dave!

  33. GTG Highlights
    July 25, 2021 at 7:27 am

    Now a 1.9 jesus chris

  34. Maria Yuriria
    July 25, 2021 at 7:27 am

    @theMattVB can i have your email??? i have so much to learn on this topic. i am a single mom, i bought my house in 2018 with no help at all. please send me your email so i can have a consult about mortgage. (mariaygasca77@gmail.com)

  35. Lori Jacobs
    July 25, 2021 at 7:27 am

    I have property that I owner financed 4 years ago. The deed is in my name and my husband's name. The lady we payed the mortgage payments to passed away in January 2020. I sent a sympathy card to her adult daughter and asked her to let me know who I pay the payments to, she never replied to me. I have just been contacted now after 7 months about signing the property back over to her adult children as a gift. I was going to just sign it and give it to them, but a lady preacher I watch posted a new message a few days later and said God was speaking to someone not to sign the contract and to read the fine print. I went back to read the fine print and it said I was giving them the property as a gift. Praying 🙏 sincerely at what I should do. The deed is in our name, I want to do what's right, but I want God's Will in this situation. Thank you and God bless!

  36. Diane Erickson
    July 25, 2021 at 7:27 am

    I didn't hear him talk about lower payments or a quicker payoff because of the refinance with a lower interest rate. He only calculated based on the points cost. ???????????????????????????????????????????

  37. Kenny Chung
    July 25, 2021 at 7:27 am

    About to close on a refi next week from 3.65 to 2.25

  38. Rob's Highlights
    July 25, 2021 at 7:27 am

    Oh they are waaaaaaay down now believe me. 2.75

  39. Junteavious Reaves
    July 25, 2021 at 7:27 am

    Now a 2.5% Jesus

  40. Chevy stepside MIA vibez
    July 25, 2021 at 7:27 am

    When you have to refinance, what does it mean when they ask, acquisition date mortgage???

  41. Aryn Nakaoka
    July 25, 2021 at 7:27 am

    When you refinance, you reset the amortization schedule. Should you account for that because the payments are mostly interest early on in the loan?

  42. Maria Soto
    July 25, 2021 at 7:27 am

    I have FHA Loan 30 years I purchase the house on July 4 2019. my interest rate is 3.5% my mortgage that I have right now called me, to ask if I want to refinance for a 2.87% rate (is something new they offering) they will pay the closing cost. I ask if I could do 15 years they said no. but I realized my the loan is $223,930.96 and they have $226,10

  43. J Rdz
    July 25, 2021 at 7:27 am

    He mentioned that he would not advise to refi an FHA loan.
    Why not?
    What are the downsides?

  44. LdlerC C
    July 25, 2021 at 7:27 am

    Loan 180k @ 4.85 %
    since 2017 is it good idea to refinance this early cov19 mess me up need Xtra $ want to know if this could be foolish

  45. Jordan Smith
    July 25, 2021 at 7:27 am

    I have a 15 year at 3%, with 13 years left. Agent suggested me to refinance at 2.65% for 15 years. Closing costs are $6500. The monthly would be a little lower but interest over the course of the loan will be thousands higher. Should I refinance?

  46. Eya Alem
    July 25, 2021 at 7:27 am

    Question. I have 350k house by 4% and my loan officer asked me to refinance by 3.5% but when I do the math I don't get that much money. becouse of refinacing fees and closing costs. and I decided to wait if the housing market will drop more. Another thing how it works after you refinansing house to get cash back?

  47. Clay
    July 25, 2021 at 7:27 am

    Is it worth it to refinance a house to save 1/2 percent in interest?
    $346,681 remaining
    $6,000 closing (only fee to be paid)
    3.625% to 3.125%
    monthly payment would save $165

  48. Steve Xspeed
    July 25, 2021 at 7:27 am

    Refinancing now 3.375% 30 yr…saving a percent…missed the 3% a few days ago

  49. 89irishman
    July 25, 2021 at 7:27 am

    Tom helped pay my mortgage and credit card. It was a total of about 322k. You can text him on 5 1 2 778 0 03 9