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Home Loan/Refi Deals


I'm okay with the events unfolding currently
I could build a forest with all the trees worth of unsolicited IRRL offers we've received in the mail in the last 10 months since buying our home. JFC.
Same. I receive five or so a week, maybe more. I use them as a litmus test for where rates are at so I know when to contact my guy about refinancing (probably not the best way, but hey).

Marty Medve

Marty Medve, Senior Broker, Trident Home Loans.
I sent out flyers once in 17 years and found out they’re an expensive lesson to not ever do.
The flyers are liars in most cases and the APR on these is tricky to understand.
1.75% rate with 1.96% APR is now 2 points vs what you can get without points and a 1% credit at 2.25%. I’ve lost zero loans to flyers when comparing. Some lenders market lower rates then screw everyone else who doesn’t know the deal. I have 1.75% on my rate sheets costing
vs 2.25% paying. With 4 rounds of rate drops, I’ve gone almost entirely to covering costs at 2.25% rather than paying costs at lower rates as advice. I’ve done about 2000 VA loans this year and led the 1st cycle to 3.25% then 2.75% and held a 2 month lead doing 2.25% with larger and larger credits. As competition kicks in with fewer refinances, rates drop but please be careful not to pay $15,000 for a refi and then in 7 months be offered .5% lower. Please don’t think I’m advertising here as we are moving more toward VA purchases and Full Documentation refinances to preserve quality above quantity. Be careful with a flyer.
My advise is to refi no cost if possible at 2.25% or wait until rates drop to 1.75% without points but pay costs for the loan. Waiting of course is risky.

The mortgage bond attaches at 1.75% to the 10 year treasury which should be the market rate for VA loans. It’s been getting closer and closer as lenders compete. This really is just on VA streamlines and not regular VA’s where you actually need processors and underwriters to do them.

Key misleading terms on flyers
  1. Representing that they are from YOUR lender
  2. Representing that they are from the VA
  3. Triggering you to think they are no cost
  4. Using the loan program as a benefit vs what they are offering. I E, we pay 2 of your payments with this loan.
  5. Buying down the Rate to show 1.75% and showing an apr much higher . I E 1.96% apr is 2 points PLUS fees rolled in.
  6. Advertising 30 year, Fixed which means it’s a 30 year term(3 year arm, or,,, OR a 15 year fixed but not a 30 year fixed)
your brain triggers things and these play on your wanting to hear what you wish.

Great NEWS!! Rates have dropped to historic Low’s. Your lender (Trident Home Loans) has made you eligible for a 1.75% 30 year loan, fixed rate, 1.96 Apr(800 credit score, California only, loan amount $548,250, Orange County.)

I actually had to video the disclaimer to read the fine print on a loan quote once.

Shop around, I quote 30 loans a day. If someone’s giving you a lower rate with a credit decide if you should wait or lock before it all goes away. Watch the TNX 10 year bond as I have done for 18 years.

I’m not quoting rates here as this is a general discussion of helping you understand flyers and not be taken advantage of. They expect 3/1000 response and pay $5-$25,000 a month for this type of marketing. The hardest part is that nobody trusts you and a lot of people commit fraud when they see the costs vs what’s being offered it the house isn’t a primary.


Well-Known Member
Just closed on a VA IRRL with Rocket Mortgage. It was pretty straightforward. It dropped my interest rate from 4.25 to 2.25 for a 30 year fixed. With the lender credits, there were only limited costs (title fees and etc with the county ~$500). I had to cut a check for $4.56 at closing. It was a no brainer. Not sure why I didn't do it sooner.


Well-Known Member
I could build a forest with all the trees worth of unsolicited IRRL offers we've received in the mail in the last 10 months since buying our home. JFC.
Along with closing up my voice-mail, i would like to find a way to deal with these unsolicited mailers. It's a PITA.