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Sho Nuff
New Orleans Saints Fan
Hawaii
Member since Feb 2009
10246 posts

re: Current Mortgage Rates


I'll likely reach out to you next week or so.


AFtigerFan
LSU Fan
Ohio
Member since Feb 2008
2476 posts

re: Current Mortgage Rates
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.


SDVTiger
Hawaii Fan
Off the Wall
Member since Nov 2011
43087 posts
 Online 

re: Current Mortgage Rates
Why would you not close on a 3%?


AFtigerFan
LSU Fan
Ohio
Member since Feb 2008
2476 posts

re: Current Mortgage Rates
quote:

Why would you not close on a 3%?

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).

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 at 9:36 am


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hawkeye007
LSU Fan
Member since Feb 2010
4286 posts

re: Current Mortgage Rates
20yr is 2.875% this morning. just locked a 30yr at 2.875% with very little discount to get there from 3%.


TigerFanatic1
LSU Fan
Monroe, LA
Member since Aug 2007
2041 posts

re: Current Mortgage Rates
Where are you guys getting these rates? I'd be interested in a sub 3%


gcgris
Member since Apr 2020
11 posts

re: Current Mortgage Rates
Yes, I would like to get in on this action as well.


Tigerholic
LSU Fan
Member since Sep 2006
1766 posts

re: Current Mortgage Rates
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.


NOLAGT
Over there
Member since Dec 2012
10364 posts
 Online 

re: Current Mortgage Rates
What are you seeing on investment 30yr. Might sell one rent house to buy another.


hawkeye007
LSU Fan
Member since Feb 2010
4286 posts

re: Current Mortgage Rates
priced one this morning at 4.375% on the 30yr


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Member since 2001
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hawkeye007
LSU Fan
Member since Feb 2010
4286 posts

re: Current Mortgage Rates
i work for Hanock Bank you can email me at edhawk75@gmail.com


cmlsu
LSU Fan
Baton Rouge, LA
Member since Aug 2011
492 posts

re: Current Mortgage Rates
quote:

priced one this morning at 4.375% on the 30yr


Are you able to do properties in an LLC?


SDVTiger
Hawaii Fan
Off the Wall
Member since Nov 2011
43087 posts
 Online 

re: Current Mortgage Rates
Breaking FHA will allow ppl Forbearance to refi and buy




HYDRebs
Ole Miss Fan
Houston
Member since Sep 2014
1152 posts

re: Current Mortgage Rates
Breaking? They’ve been allowing as well as VA and FNMA


DaleBrown
LSU Fan
Slidell la
Member since May 2019
1416 posts
 Online 

re: Current Mortgage Rates
Are rates for 30 year different on 2nd homes from primary residence?
This post was edited on 5/19 at 12:06 pm


hawkeye007
LSU Fan
Member since Feb 2010
4286 posts

re: Current Mortgage Rates
no that makes it commercial. you can transfer it back to the LLC after closing.


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hawkeye007
LSU Fan
Member since Feb 2010
4286 posts

re: Current Mortgage Rates
they are the same as primary residence rates.


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SDVTiger
Hawaii Fan
Off the Wall
Member since Nov 2011
43087 posts
 Online 

re: Current Mortgage Rates
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


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vettegc
LSU Fan
Livingston
Member since Dec 2006
402 posts

re: Current Mortgage Rates
Can anyone provide a name / contact of a UWM broker. Seems there rates are a lot better than anyone else.


632627
Southern Cal Fan
LA
Member since Dec 2011
9843 posts

re: Current Mortgage Rates
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.


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