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hawkeye007 
LSU Fan
greenwell springs
Member since Feb 2010
1231 posts
| Mortgage Rate Shoppers (Posted on 5/14/12 at 5:28 pm)
LOCK!!!! just some friendly advise. the rate today was the lowest i have seen in about 5 months..
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Walkertiger 
Oregon Fan
Asst. to the Regional Admin
Member since Nov 2007
2229 posts
| re: Mortgage Rate Shoppers (Posted on 5/14/12 at 7:08 pm to hawkeye007)
so what did you get?
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TigerTatorTots
LSU Fan
The Rec, Middle Courts- retired
Member since Jul 2009
58070 posts
| re: Mortgage Rate Shoppers (Posted on 5/14/12 at 7:16 pm to hawkeye007)
It is a full 1/4 percent lower than when I closed last month 
Oh well, won't make THAT much of a difference
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hawkeye007
LSU Fan
greenwell springs
Member since Feb 2010
1231 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 9:57 am to Walkertiger)
i didnt get anything. i am mortgage banker and everyone is always talking rate and i know there is a few guys shopping refinances so i wanted to advise them to get off the fence and lock.
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tenortoga
LSU Fan
Member since Dec 2007
330 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 1:07 pm to hawkeye007)
What is the rate for a 15 year, no points?
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hawkeye007
LSU Fan
greenwell springs
Member since Feb 2010
1231 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 1:18 pm to tenortoga)
2.875%-3.0% depending on all the other factors involvled.
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tenortoga
LSU Fan
Member since Dec 2007
330 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 1:58 pm to hawkeye007)
quote:
2.875%-3.0% depending on all the other factors involvled.
Can you get 2.875 with no points or closing costs?
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LandOwners
LSU Fan
Down South
Member since Sep 2011
603 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 3:09 pm to hawkeye007)
Would you advise someone to wait 14 more days to lock if it got them $800 towards closing credit from lender?
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hawkeye007
LSU Fan
greenwell springs
Member since Feb 2010
1231 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 3:32 pm to tenortoga)
dont get me started on the no closing cost loans..no i cant get you 2.875% with no closing cost and anyone that says they can is full of shite. title companies dont close loans for free and neither do lenders. i have plenty of customers that come back to me 30-45 days after we talk and they go with some no name broker who quotes them the no closing cost loan. bait and switch is still used in this industry i hate to say.
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hawkeye007
LSU Fan
greenwell springs
Member since Feb 2010
1231 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 3:34 pm to LandOwners)
why would the lender give you a credit for waiting longer to lock that doesnt make sense. i have a saying that i live by..if you like it lock it..800 is pennies over the life of the loan. rates are at the lowest they have been all year, i wouldnt be waiting on anything.
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lapistola
LSU Fan
Baton Rouge
Member since May 2008
678 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 4:38 pm to hawkeye007)
quote:
hawkeye007
I'm looking to buy or build in the next year or so. I've only got about 11% of my expected down payment right now, but the interest rate is obviously ridiculously low like you said. Do you think the interest rate will go up to where it negates anything I gain by having a higher down payment? I would have about 16-17% in a year.
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Dodd 
Duke Fan
Atlanta
Member since Oct 2003
16704 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 6:53 pm to hawkeye007)
30 yr refi rate?
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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
4568 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 7:59 pm to hawkeye007)
Our in house lender thinks they going lower! Locked two today at 3.875 0/0.
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TigerTatorTots
LSU Fan
The Rec, Middle Courts- retired
Member since Jul 2009
58070 posts
| re: Mortgage Rate Shoppers (Posted on 5/15/12 at 9:20 pm to hawkeye007)
quote:
dont get me started on the no closing cost loans..no i cant get you 2.875% with no closing cost and anyone that says they can is full of shite.
Unless the builder pays closing costs....
I closed late April and the builder had said before hand they cover closing costs up to 5K
Closing costs ended up being 6200. In good faith, they covered the extra $1200. I will always recommend them now.
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lapistola
LSU Fan
Baton Rouge
Member since May 2008
678 posts
| re: Mortgage Rate Shoppers (Posted on 5/16/12 at 6:29 am to TigerTatorTots)
quote:
I will always recommend them now.
Mind sharing who it was? I'm looking to build in the next year.
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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
17391 posts
| re: Mortgage Rate Shoppers (Posted on 5/16/12 at 7:12 am to lapistola)
As I mentioned in a previous thread, I'm going with the 1-month libor + 1.625 ARM interest only, which is about 1.875 total right now. Going to save hundreds a month on interest payments. Also don't have to pay escrow to them.
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Post It Bandit 
New Orleans Saints Fan
Boutte
Member since Mar 2008
1295 posts
| re: Mortgage Rate Shoppers (Posted on 5/16/12 at 10:08 am to C)
Just refinanced for 30yr @ 3.75%
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TigerTatorTots
LSU Fan
The Rec, Middle Courts- retired
Member since Jul 2009
58070 posts
| re: Mortgage Rate Shoppers (Posted on 5/16/12 at 5:46 pm to lapistola)
quote:
Mind sharing who it was? I'm looking to build in the next year.
DSLD Homes. Based in Denham Spring, they build all the way over to Slidell. They won Builder of the Year in 2011, and I can definitely see why
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Franktowntiger7
LSU Fan
Member since Dec 2010
1619 posts
| re: Mortgage Rate Shoppers (Posted on 5/16/12 at 9:41 pm to TigerTatorTots)
They are actually building you a home? What are they letting you pick out?
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TigerTatorTots
LSU Fan
The Rec, Middle Courts- retired
Member since Jul 2009
58070 posts
| re: Mortgage Rate Shoppers (Posted on 5/16/12 at 10:54 pm to Franktowntiger7)
I picked the floor model I liked. Its not custom, they have 15 or so floor models to choose from
ETA: But you do have full say in what goes on the inside
This post was edited on 5/16 at 10:55 pm
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