https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sat, 18 Jul 2026 06:07:27 +0000 https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-455282 Wed, 19 Dec 2012 11:18:34 +0000 StrawberryBee 455282@https://boards.hellobee.com/ <p>@MrsTiz: I know! The raise was nice, but in addition to the mortgage it's a game changer. It was high because the mortgage I got when I bought the house was lender paid PMI. Instead of paying an extra couple hundred dollars a month for mortgage insurance because I didn't put 20% down, it was built into the rate instead. That was before rates dropped.</p> <p>Here are the requirements for being eligible for HARP:</p> <p>1. The mortgage MUST be owned or guaranteed by Fannie Mae or Freddie Mac<br /> 2. The mortgage MUST have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.<br /> 3. The mortgage CANNOT have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.<br /> 4. The current loan-to-value (LTV) ratio MUST be greater than 80%<br /> 5. The borrower MUST be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.<br /> 6. You have a reasonable ability to pay the new mortgage payments.<br /> 7. The refinance improves the long term affordability or stability of your loan. </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-455241 Wed, 19 Dec 2012 11:01:50 +0000 MrsTiz 455241@https://boards.hellobee.com/ <p>How great! I would probably pass out dead if I got an extra $640 a month! Why was your mortgage rate so high!? I wonder if I can refinance too now?! :) </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-455190 Wed, 19 Dec 2012 10:45:08 +0000 StrawberryBee 455190@https://boards.hellobee.com/ <p>@chopsuey119: I love that you're in labor and posting to this ;D. Thanks and good luck!!!!!!!!!!!! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-455113 Wed, 19 Dec 2012 10:26:23 +0000 chopsuey 455113@https://boards.hellobee.com/ <p>Wow! Congrats!! :) </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-455109 Wed, 19 Dec 2012 10:25:48 +0000 StrawberryBee 455109@https://boards.hellobee.com/ <p>@Adira: I found out about HARP from some coworkers who took advantage of it. Was always so jealous of their rates! Bummer about the house being worth less, but at least the appraisal worked in your favor for the refi. Thanks for the congrats :D. </p> <p>@abbydabbydoodlebug: awesome, congrats to you too! It feels so weird to be paying so much less for the same thing.</p> <p>@tororojo: yes, I need a money vault and striped swimsuit, ala Scrooge McDuck! I feel like I have some breathing room finally. </p> <p>@caffeinated: @autumnlove: thank you!! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454267 Tue, 18 Dec 2012 18:06:44 +0000 autumnlove 454267@https://boards.hellobee.com/ <p>Awesome!! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454235 Tue, 18 Dec 2012 17:40:40 +0000 Freckles 454235@https://boards.hellobee.com/ <p>Congrats on the double good news!! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454226 Tue, 18 Dec 2012 17:35:35 +0000 tororojo 454226@https://boards.hellobee.com/ <p>Wow, that's really exciting! Congrats...you should save all that extra money and going swimming in it! ;) </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454216 Tue, 18 Dec 2012 17:28:35 +0000 abbydabbydoodlebug 454216@https://boards.hellobee.com/ <p>Wow, congrats! We just got our initial approval for our refi too! We went down 3 points and are saving $300/month. It's a great feeling for sure! With that money, we were able to buy me a new car, so I don't have to drive my 12 yr old one anymore. Yay for great news! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454172 Tue, 18 Dec 2012 17:09:50 +0000 Adira 454172@https://boards.hellobee.com/ <p>@StrawberryBee: Now I wish I had looked into HARP, but it never even occurred to me. We are doing a traditional appraisal and our house is worth $40,000 less than it was when we bought it! Luckily, we've paid enough towards the mortgage already that it's still worth more than we owe, but I was really nervous about this aspect!</p> <p>And good luck at your doctor's appointment!! I'm sure that everything is fine, but definitely having that confirmation that everything is okay is such a relief! It's hard not to be nervous until that happens!!! And congrats on your pregnancy! :) </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454147 Tue, 18 Dec 2012 16:56:35 +0000 StrawberryBee 454147@https://boards.hellobee.com/ <p>@Adira: haha, well, there's some crazy bits to it too ;). But yes, I'm really thankful for all the wonderful things life has given me! Hopefully we get good news next week at our first dr's appointment. I'm really anxious for confirmation of the two pink lines ;).</p> <p>Luckily we don't have to get an appraisal with HARP, because we'd never qualify for a traditional refi. Houses completely refurbished are selling $10,000 below what I paid 5 years ago. </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454146 Tue, 18 Dec 2012 16:53:27 +0000 blackbird 454146@https://boards.hellobee.com/ <p>CONGRATS!!!! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454144 Tue, 18 Dec 2012 16:50:51 +0000 Adira 454144@https://boards.hellobee.com/ <p>CONGRATULATIONS!!!! I want your life, haha! Hubs and I are currently in the process of refinancing our mortgage and I'm crazy excited to get it all said and done! We JUST got the appraisal back on our house and THANKFULLY our house was appraised for more than we're trying to refinance - I was really worried about this because the market has gone down since we bought our house. And congrats again on your promotion!! I'm actually going to try to get promoted in the next year or so, but I don't know how easy/hard it is at my company. Good for you for getting one!!! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454138 Tue, 18 Dec 2012 16:46:59 +0000 StrawberryBee 454138@https://boards.hellobee.com/ <p>@littlek: @Bao: @MaisyMay: @Mrsbells: @BabyBoecksMom: @Alivoo01: @Cherrybee: Thank you so much! I love my department where I work. Both my bosses said to make sure that I take as much time as possible when the baby gets here (I have 9 weeks of sick time saved, plus short term disability and 4+ weeks of vacation) and not to worry about taking all of it, because you need to cherish every moment. </p> <p>I was already flying over that, but the refi sent me over the edge. $640/month will make such a difference! If DH chooses to be a SAHD I can still cover his bills! I can't wait to see my new paycheck in January. It's so hard to figure out what will be taken out for taxes. And I may not have to reduce my 401k contribution (which I really, really didn't want to do). Yeehaw! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454116 Tue, 18 Dec 2012 16:26:31 +0000 Cherrybee 454116@https://boards.hellobee.com/ <p>Great news!! Congrats!! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454112 Tue, 18 Dec 2012 16:22:39 +0000 Alivoo01 454112@https://boards.hellobee.com/ <p>Woohoo!!!! Congratulations on all these huge achievements!!!! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454078 Tue, 18 Dec 2012 16:06:17 +0000 BabyBoecksMom 454078@https://boards.hellobee.com/ <p>BIG HAPPY (((((((HUG))))))) Great news!!! I think I would be jumping up and down with you. :-) </p> <p>I desperately want to refi our house since we're 100% financed, but we don't qualify because we don't have equity. This post gives me hope that we might be able to. </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454067 Tue, 18 Dec 2012 16:02:30 +0000 Mrsbells 454067@https://boards.hellobee.com/ <p>Yay!! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454056 Tue, 18 Dec 2012 15:59:27 +0000 MaisyMay 454056@https://boards.hellobee.com/ <p>@StrawberryBee: So it's like an extra $640 a month! That's wonderful news!!! I'd dance and hug and want to cry too! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454053 Tue, 18 Dec 2012 15:58:46 +0000 Bao 454053@https://boards.hellobee.com/ <p>Wow, that's great! Congrats :) </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454052 Tue, 18 Dec 2012 15:58:30 +0000 littlek 454052@https://boards.hellobee.com/ <p>Awesome!!! Congratulations!! </p> https://boards.hellobee.com/topic/soooo-happy-right-now-promotion-mortgage-refi#post-454044 Tue, 18 Dec 2012 15:56:45 +0000 StrawberryBee 454044@https://boards.hellobee.com/ <p>Oh bees, I'm so happy I literally danced down the hallway at work today. AND almost burst into tears. And gave one of my coworkers a huge hug just for the heck of it. </p> <p>Yesterday I had my annual review at work, and on top of it being glowing, I got a promotion and a wonderful raise that if I've done my calcs right, will add about $300/month to our income.</p> <p>Today I called my mortgage company, as I've done once a month now for the past 6-7 months, and asked if our mortgage qualified for HARP (Home Affordable Refinance Program). We always preliminarily qualified, but got denied on a minor detail of our original mortgage. We can't refi without it, as there's no equity in the home (thank you community sales for the past three years).</p> <p>Well, today the answer was, "Yes, you qualify!" Bees, with the refi we'll be saving an additional $340/month. I'm so elated! We went from a mortgage rate of 6.25% to 3.75%. This saves us with the baby coming in July/August.</p> <p>So I guess the point of all this is, be persistent if you don't qualify for a program right away! They're always changing. And if you haven't heard of HARP, look into it and see if you meet the criteria and it's something you want to do. </p>