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Boxhomeloans – 5 Mistakes To Avoid When Refinancing Your Mortgage | LENDERS EXPOSED!!!

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Boxhomeloans – Whats The Best?

In this video, I talk about 5 things to avoid when refinancing your mortgage. Don’t get tricked by lenders and pay a bunch of money when refinancing or risk losing your home!

Box Home Loans (no junk fees): https://www.boxhomeloans.com/corporate-sponsor/?cs=sdsmartp3x

#refinance #lowrates #refinancemistakes

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DISCLAIMER: I am not a CFP, CPA, attorney, insurance agent, real estate agent, mortgage broker, or financial advisor. These videos are for educational purposes only and I am merely sharing my opinion and experiences. Please do your own research or consult a professional!

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24 Comments
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24 Comments

  1. O H
    July 23, 2021 at 12:05 am

    Also, interest that is tax-deductible can only be applied to expenses that improve the home and not debt consolidation. Not a mistake as the tax laws were different then than now. Still a good video. Thank you.

  2. O H
    July 23, 2021 at 12:05 am

    Technically the 3% loan closing cost on $200k is $6k not $3k.

  3. jose artiaga
    July 23, 2021 at 12:05 am

    So now I found out what a junk fee is (underwriting). What do I tell my loan officer about that? How do I get rid of it?

  4. Dub City Gaming
    July 23, 2021 at 12:05 am

    Original mortgage was 228,800 at a 30 year fha loan @5.5 int rate. Almost 3years later I'm at 220k left. Same loan company called and offered to do a streamline refi ,30 yr @ 3.375 int rate. But the total would be $ 223850 now with $140 to close. I was paying 2k a month new payment would be 1600. Should I do it?

  5. Ronald Polanco
    July 23, 2021 at 12:05 am

    I purchased my home last year for 400k through FHA at 3.5%. I’m currently in the middle of refinancing at a 2.99% and getting rid of PMI.

    I told my Lender, I would like a lender credit to offset the closing cost fees. My lender is telling me that the fees are being offset from the months that I don’t have a mortgage payment plus the refund I am getting from escrow. What should I tell them ?

  6. Ronald Polanco
    July 23, 2021 at 12:05 am

    Great information on here

  7. Catherine Ostrom
    July 23, 2021 at 12:05 am

    Your chart was too small to read and therefore no benefit.

  8. FIVE_O_FEVER
    July 23, 2021 at 12:05 am

    I am always skeptical when I see videos like this but after watching it I am giving you an A.
    Your information was spot on. The only time I refinanced is when going from a 30 year to a 15 year.

  9. smoothoperator876
    July 23, 2021 at 12:05 am

    Those damn junk fees……..🤕🤕🤕🤕🤕🤕🤕🤕🤕🤕🤕

  10. jsharrad
    July 23, 2021 at 12:05 am

    I used your link to check out rates and so much for no junk fees.
    Commitment Fee $895.00
    lol

  11. Lib Natty
    July 23, 2021 at 12:05 am

    Subscribe!!! Most common sense video on refi.

  12. Implypie Meme
    July 23, 2021 at 12:05 am

    So glad I found ur channel. I bought my home 15 years ago, looking to refi +cash due to lost income with embrace loans at 2.75%, my current rate is 5%. Home equity around 200k, good idea?

  13. Dexter David
    July 23, 2021 at 12:05 am

    Great info!

  14. stellahsgroove
    July 23, 2021 at 12:05 am

    Thank you! box home loans don't service nyc…can you recommend another? thank!

  15. extra rice
    July 23, 2021 at 12:05 am

    my lender would like to charge me for 8500 closing cost..are there other lenders than can refinance me for at least 3 quarters of that? i have a 271k loan for 30yr 2.75%

  16. David Hohertz
    July 23, 2021 at 12:05 am

    Does it make sense to refi from a 3.75% FHA 30-year fixed to a 3.75 Conventional 30-year fixed so I can get rid of the MIP premium of $168.00/month? The refi would bring my loan balance from $255K to about $262k. My house is worth about $325k. Thanks!

  17. Panhia Yang
    July 23, 2021 at 12:05 am

    I about to refinance and I have a 4.37 …to refinance to a 3.12 ??? Help

  18. Vanessa Vongph
    July 23, 2021 at 12:05 am

    I really like this video thank you so much! There's lot of good information.I am getting ready to refinance my house after removing Ex-spouse name. The current balance is $70,000 with 5.10%. I don't plan to move or sale it anytime soon but I plan on paying my house off in 5 years or sooner or if I can get it refinance with a lot lower rate how many years should I stick with I have 13 years left now can you please advise

  19. Al'set Barnabi
    July 23, 2021 at 12:05 am

    what about taking out $$ to make improvements aka ADU?

  20. Nick Grant
    July 23, 2021 at 12:05 am

    The house I have is valued at 200k. I owe 105k with 28 years left. It’s at 4.25% and I was offered 3% for refinance for 30 years. My payment would drop 80$ a month and closing costed are 5000$. What do you think?

  21. Andrea Serrano
    July 23, 2021 at 12:05 am

    Hi we’re looking into refinancing our home. We bought it for 242,000 back in July of 2016 so almost 5 years into our 30 year. We owe 221,00 and our current interest is 3.75. We’ve been quoted around a 2.8- 3.0. interest with fees on a new 30 year loan. Do you think we should wait, go ahead, keep looking or not refinance at all? We plan to keep this home as an investment and rent it out within this year. Our house is also now worth around 300,00.

  22. Jacob Roldan
    July 23, 2021 at 12:05 am

    What about reinvesting in brokerage account?

  23. Tisha Vee
    July 23, 2021 at 12:05 am

    So mortgage is 2yrs old with 4.6% interest. Purchased it for $350k and now owe $326k, a 30yr old loan. With interest rate down right now, is it advisable to refinance?

  24. 627horsepowers
    July 23, 2021 at 12:05 am

    7:34 they will be adding a YouTube fee soon.