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re: Current Mortgage Rates

Posted on 11/23/20 at 8:04 am to
Posted by AndyJ
Member since Jul 2008
2767 posts
Posted on 11/23/20 at 8:04 am to
I thought you could not refinance again for 18 months...
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
2825 posts
Posted on 11/23/20 at 10:05 am to
3.5% on a 15 year and 3.875% on a 20 year
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
10449 posts
Posted on 11/23/20 at 11:02 am to
quote:

3.5% on a 15 year and 3.875% on a 20 year


You sure you didn't mean 2.5 and 2.875?
This post was edited on 11/23/20 at 11:03 am
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
2825 posts
Posted on 11/23/20 at 11:11 am to
No it’s an investment property
Posted by jstew311
Grant Parish Meth Lab
Member since Dec 2005
860 posts
Posted on 11/23/20 at 11:13 am to
Do you do VA financing? Looking to to a VA refi 15 or 20 year.
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
10449 posts
Posted on 11/23/20 at 11:19 am to
Damn. I will have to hit you up with those rates. How much down?
Posted by WeAreBR
Member since Oct 2020
125 posts
Posted on 11/23/20 at 11:38 am to
Do you want me to run the scenario? All rates vary depending on a few factors.
Posted by WeAreBR
Member since Oct 2020
125 posts
Posted on 11/23/20 at 11:39 am to
yep - I can if it is in Louisiana. I am not licensed in other states but I can refer you to someone who can give you something close
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
2825 posts
Posted on 11/23/20 at 12:18 pm to
25%
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
2825 posts
Posted on 11/23/20 at 12:19 pm to
Let me know the scenario and I can run
Posted by Lickitty Split
Inside
Member since Apr 2017
3916 posts
Posted on 11/23/20 at 12:53 pm to
Are you positive these are the numbers you can do for a refi on a investment property?
Posted by WeAreBR
Member since Oct 2020
125 posts
Posted on 11/23/20 at 1:13 pm to
I just entered it again as an investment - 2.625% for 15 year ($740 monthly payment) and 2.875% for 20 year ($603 monthly payment). Credit score 760

I ran it the first time as a primary
This post was edited on 11/23/20 at 1:15 pm
Posted by GeauxDCTigers
Washington DC
Member since Jan 2020
9 posts
Posted on 11/23/20 at 4:24 pm to
Looking to refinance in Maryland
Posted by RedBeardBaw
Member since Feb 2017
371 posts
Posted on 11/23/20 at 4:26 pm to
Need cash out refi options and rates...

primary residence, owe 154k and currently have heloc for 17k. Last appraisal was a couple years ago at $220k.
Posted by GeauxDCTigers
Washington DC
Member since Jan 2020
9 posts
Posted on 11/23/20 at 4:28 pm to
My current loan amount is 800k @ 3.5%, checked with quicken and they can give me a 2.5% rate but only if I can pay down the loan to 765k (something about refinance limits in my county) any suggestions on lenders who will not require paying down the loan.
Posted by WeAreBR
Member since Oct 2020
125 posts
Posted on 11/23/20 at 7:06 pm to
Although my mom is from Maryland, I am not licensed there. I can give you my colleague who is and he can give you more information. He has been lending for years and can tell you your options.
Posted by WeAreBR
Member since Oct 2020
125 posts
Posted on 11/23/20 at 7:11 pm to
I ran the scenario of $220k value, $171K loan (heloc included) amount with 760 credit score- Rate is 2.5% for a 30 year with a monthly payment of $676 not including escrows or closing costs

Now if you want to do cash out, you will not have a lot of room because with the scenario above your LTV is 77%

If your house appraises for more than $220k, cash out could be an option

This post was edited on 11/23/20 at 7:17 pm
Posted by GeauxDCTigers
Washington DC
Member since Jan 2020
9 posts
Posted on 11/23/20 at 7:44 pm to
Many thanks, what is your email. I will reach out to you.
Posted by WeAreBR
Member since Oct 2020
125 posts
Posted on 11/23/20 at 7:48 pm to
Mine is Britt dot bowker @tmf.mortgage. His email is Ed dot Miller @tmf.mortgage. I gave him a heads up that you might be reaching out
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
75090 posts
Posted on 11/24/20 at 8:01 am to
quote:

any suggestions on lenders who will not require paying down the loan.



Everyone will require. That's Conventionals high balance limit

You are a Jumbo loan. Find an out of the box lender
You will be lucky to get under 3
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