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Posted on 9/17/20 at 3:04 pm to gsvar2004
rates are up a little bit this week but I quoted 2.75 and 2.875 earlier. Depends on credit and loan to value
Posted on 9/17/20 at 3:21 pm to ellesssuuu
Locked at 2.875 for 30 no points. Down from 3.875. Could have bought down to 2.75 but I’m good dropping a full percent and no points.
Posted on 9/18/20 at 1:24 pm to hawkeye007
They actually postponed the .5 hit on pricing until December. There was such a outpouring of opposition by those of us in the industry and others that they felt it would be counterproductive to do right now. I am hoping they indefinitely postpone, but that is unlikely. When I started in the biz, rates were double digits. They have never been lower than they are now for sure.
Posted on 9/18/20 at 1:44 pm to gsvar2004
quote:
Have the rates went back up
Jesus
Posted on 9/18/20 at 4:43 pm to gsvar2004
I closed today on a 30 years at 2.625% with $2900 closing costs, no points (total loan was 187K).
Not sure if i rushed it since rates might got even lower soon.
Not sure if i rushed it since rates might got even lower soon.
This post was edited on 9/18/20 at 4:44 pm
Posted on 9/18/20 at 5:11 pm to Northwestern tiger
Doing almost the same numbers on a close in early October... Rate 2.625 APR 2.815 Closing costs 2427... then got the appraisal waived.. so 1947 in costs...
Posted on 9/21/20 at 10:40 am to natsoundup
30 yr refi rates this week?
Posted on 9/21/20 at 10:55 am to nolaks
I am curious too. I need a cash out refi to buy another property.
Posted on 9/21/20 at 11:07 am to CaptainJ47
whats the total amount you want to borrow and estimated value of house?
Posted on 9/21/20 at 11:09 am to rockyvol
December 1 is when lenders deliver to Fannie/Freddie. Most lenders have included .50 hit because its taking 45-60 days to close these deals and then it takes several more weeks for Fannie/Freddie to purchase from the lenders.
Posted on 9/21/20 at 11:43 am to ellesssuuu
315k. Gonna try to do a total LTV of 80%. Owe a combined 125k so assume it appraised for 315k would do $127k cash out.
Posted on 9/21/20 at 1:09 pm to CaptainJ47
80% LTV today's rate would be 3.25
Posted on 9/21/20 at 2:19 pm to ellesssuuu
Am I correct that 80% is max LTV on a cash out refi?
Posted on 9/21/20 at 3:07 pm to CaptainJ47
no its been reduced to 75% max LTV
Posted on 9/21/20 at 3:58 pm to Lickitty Split
Depends on multiple factors- One being your lender. Let me know if you need a lender
Posted on 9/21/20 at 4:17 pm to CaptainJ47
quote:
Am I correct that 80% is max LTV on a cash out refi?
Yes you are correct
Both Conv and FHA
Its false that they lowered conv to 75%
Posted on 9/21/20 at 8:13 pm to CaptainJ47
Correct 80 max unless it’s VA loan which is 90
Posted on 9/22/20 at 2:03 am to ellesssuuu
My mortgage broker and I talk a lot. I have purchased, refid and IRRL with the same guy (Always shop around, simply can never beat his rates) and my plan is to lock in and refi on Nov 1, just before the election.
If things get worse for rates, I am locked in, if they somehow get better than 2.25 fixed for 30 on 1M loan, than so be it, we will simply use a different lender.
We looked at purchasing another house with a 20% down loan 2 weeks ago, and that was the lock I had before the deal fell through due to offer not being accepted.
If things get worse for rates, I am locked in, if they somehow get better than 2.25 fixed for 30 on 1M loan, than so be it, we will simply use a different lender.
We looked at purchasing another house with a 20% down loan 2 weeks ago, and that was the lock I had before the deal fell through due to offer not being accepted.
Posted on 9/22/20 at 1:40 pm to oneg8rh8r
I am finalizing today or tomorrow who I will go with. Best rate I have seen quoted has been 2.875% and about $3500 in closing. Happy to try one or two more but time is getting tight because I need the cash to purchase something by the end of October / early November.
If you could send me your broker’s info to my username @ yahoo that would be fantastic. I had a prior mortgage guy but he had a stroke a few years ago (God bless him) and I haven’t had the need to find another one until now.
If you could send me your broker’s info to my username @ yahoo that would be fantastic. I had a prior mortgage guy but he had a stroke a few years ago (God bless him) and I haven’t had the need to find another one until now.
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