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Started By
Message
re: Current Mortgage Rates
Posted on 5/18/20 at 9:03 am to Sho Nuff
Posted on 5/18/20 at 9:03 am to Sho Nuff
Bump for current 30 year rates. I'm in a window where I need to see if I need to make a move. Our rate lock expires 4 June, and our closing may be delayed by a week or so. We're currently in at 3% with no points, but they haven't responded back with whether or not they'll extend the rate or not. Now is the time to determine if I go with someone else.
1
Posted on 5/18/20 at 9:19 am to AFtigerFan
Why would you not close on a 3%?
Posted on 5/18/20 at 9:53 am to SDVTiger
quote:I'd love to close on a 3%, but there is a delay in the construction. The house may not be ready for 1 to 2 weeks after the rate lock expires. So if I can't get my mortgage company to respond about an extension, I lose the rate lock. If rates go up after the rate lock expires, I have to close at the new rate (unless mortgage company extends).
Why would you not close on a 3%?
If rates have decreased, I have enough time right now to start from scratch with a new company, make the switch and have a rate lock well after the anticipated close date. I'm just trying to protect myself.
This post was edited on 5/19/20 at 9:36 am
Posted on 5/18/20 at 10:23 am to blades8088
20yr is 2.875% this morning. just locked a 30yr at 2.875% with very little discount to get there from 3%.
Posted on 5/18/20 at 7:09 pm to hawkeye007
Where are you guys getting these rates? I'd be interested in a sub 3%
Posted on 5/18/20 at 11:08 pm to TigerFanatic1
Yes, I would like to get in on this action as well.
Posted on 5/19/20 at 6:58 am to gcgris
UWM - google them and find a local broker. They are quoting below 3 right now but you have to close in 22 days and haven’t used them in the previous 18 months.
Posted on 5/19/20 at 7:53 am to hawkeye007
What are you seeing on investment 30yr. Might sell one rent house to buy another.
Posted on 5/19/20 at 10:56 am to NOLAGT
priced one this morning at 4.375% on the 30yr
Posted on 5/19/20 at 10:56 am to TigerFanatic1
i work for Hanock Bank you can email me at edhawk75@gmail.com
Posted on 5/19/20 at 11:05 am to hawkeye007
quote:
priced one this morning at 4.375% on the 30yr
Are you able to do properties in an LLC?
Posted on 5/19/20 at 11:35 am to cmlsu
Breaking FHA will allow ppl Forbearance to refi and buy
Posted on 5/19/20 at 11:58 am to SDVTiger
Breaking? They’ve been allowing as well as VA and FNMA
Posted on 5/19/20 at 12:06 pm to hawkeye007
Are rates for 30 year different on 2nd homes from primary residence?
This post was edited on 5/19/20 at 12:06 pm
Posted on 5/19/20 at 12:50 pm to cmlsu
no that makes it commercial. you can transfer it back to the LLC after closing.
Posted on 5/19/20 at 12:51 pm to SlidellCajun
they are the same as primary residence rates.
Posted on 5/19/20 at 1:49 pm to HYDRebs
quote:
Breaking? They’ve been allowing as well as VA and FNMA
It was just released today
No one could do a loan for someone in forbearance
Posted on 5/19/20 at 2:27 pm to Tigerholic
Can anyone provide a name / contact of a UWM broker. Seems there rates are a lot better than anyone else.
Posted on 5/19/20 at 3:14 pm to vettegc
someone mentioned this within the last few pages, there's a website called something like findabroker.com or whatever that's hosted by UWM and refers you to one of their brokers.
Posted on 5/19/20 at 10:15 pm to vettegc
There’s a catch so be careful
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