re: 30 Year Mortgage Rates - What is Reasonable

4 and an 8th is high with your score and down payment based on not a lot of info. Also the whole talk about servicing your loan is crap. He can’t put that in writing and it doesn’t mean anything anyway. If your loan is sold your terms don’t change. Your rate, principal, term etc are what they are provided you are being sold a conventional fixed rate product.

My advice is the same advice I always give: ask friends for MULTIPLE suggestions about mortgage BROKERS (someone who has access to multiple lenders and products) and sit down and speak with them. Explain what you’re being offered. Be up front about what you do and don’t know and what aspects about the process you want or need education on, etc.

Tell them what your goals are and what’s most important to you. The one who you feel LISTENS and then EDUCATES you the best...I’ll bet that’s who ends up with your business.

Your friend is gonna probably sell you on staying with his guy. Ask your friend if he’s gonna pay the difference between 3 and 7/8ths and 4 and an 8th for the next 15-30? Seriously he probably had a great experience with the guy but every situation is different.