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hawkeye007
LSU Fan
Member since Feb 2010
4488 posts

re: Current Mortgage Rates
same as first homes, should be 2.875% range.


hawkeye007
LSU Fan
Member since Feb 2010
4488 posts

re: Current Mortgage Rates
send me an email at edhawk75@gmail.com i can run a scenerio for you and see if it makes since


OTIS2
LSU Fan
NoLA
Member since Jul 2008
44911 posts

re: Current Mortgage Rates


onelochevy
LSU Fan
Slidell, LA
Member since Jan 2011
14061 posts

re: Current Mortgage Rates
Locked in 3.125 for 30 earlier this week


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SnukaD
LSU Fan
Covington, LA
Member since Apr 2016
494 posts
 Online 

re: Current Mortgage Rates
Locked in 2.875 for 20 years last week


Epic Cajun
New Orleans Pelicans Fan
Lafayette, LA
Member since Feb 2013
21305 posts
 Online 

re: Current Mortgage Rates
Locked in 2.75 for 30 last week. Can’t close until September due to the number of refinances going on right now though.


SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
45499 posts

re: Current Mortgage Rates
quote:

Locked in 2.75 for 30 last week. Can’t close until September due to the number of refinances going on right now though.


Why? You have shite credit?


JohnnyKilroy
New Orleans Pelicans Fan
Cajun Navy Vice Admiral
Member since Oct 2012
25901 posts

re: Current Mortgage Rates
Should be closing @3.0 later this week. Total cost should be about 1200 or so.


cajuns td
LA-Lafayette Fan
Prairieville
Member since Jun 2019
77 posts
 Online 

re: Current Mortgage Rates
Closing today on a 15 yr @ 2.5%.


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10
Epic Cajun
New Orleans Pelicans Fan
Lafayette, LA
Member since Feb 2013
21305 posts
 Online 

re: Current Mortgage Rates
quote:

Why? You have shite credit?

Yes I have awful credit, which is why I was offered their best rate
This post was edited on 7/27 at 8:05 am


hawkeye007
LSU Fan
Member since Feb 2010
4488 posts

re: Current Mortgage Rates
most lenders are running 45+ days on closings on refinances because we are processing triple the volume we are used to.


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20
SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
45499 posts

re: Current Mortgage Rates
quote:

Yes I have awful credit, which is why I was offered their best rate


Ppl with 580s are getting rates of low 3s with FHA
Was just a question. Lenders are closing in under 21 days so not sure why someone with your qualifications would let that happen


Ace Midnight
LSU Fan
Between sanity and madness
Member since Dec 2006
76098 posts
 Online 

re: Current Mortgage Rates
Hawk:

Bottom line, what do I need for a Jumbo VA construction loan, that will also fold the land loan in?

Looking at a final of under $1m. Is that doable with about $150k cash at closing (or do I need closer to $200K)? Should I expect to pay at least 3% if we break ground in 7 months?



Epic Cajun
New Orleans Pelicans Fan
Lafayette, LA
Member since Feb 2013
21305 posts
 Online 

re: Current Mortgage Rates
quote:

Ppl with 580s are getting rates of low 3s with FHA
Was just a question. Lenders are closing in under 21 days so not sure why someone with your qualifications would let that happen

Before there was even a credit check ran on me the mortgage officer mentioned that they wouldn’t be able to process my refinance until September due to their volume of refinances. I’m not in a hurry, so I was fine with that.


C
Atlanta Falcons Fan
Houston
Member since Dec 2007
26322 posts
 Online 

re: Current Mortgage Rates
With a VA nothing down. If you’re putting something down, don’t do a VA and waste the VA funding fee.


Ace Midnight
LSU Fan
Between sanity and madness
Member since Dec 2006
76098 posts
 Online 

re: Current Mortgage Rates
quote:

If you’re putting something down, don’t do a VA and waste the VA funding fee.


I got that, but if I don't have 20% for a conventional, then I'm paying PMI - and I have no idea how expensive that's going to be for a Jumbo. If I can bring at least 5% down, then the VA fee is under 2 points. If I could do a full 20%, I might comparison shop for rates/total cost, but if under 20% (I'm likely going to be closer to 11 or 12 percent unless we push it off a year), I'm leaning VA if it is doable.

I'm doing things the hard, hard way - land loan, Construction, Jumbo, VA - but at $200/sq foot to build, what else is there to do?


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SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
45499 posts

re: Current Mortgage Rates
quote:

I’m not in a hurry, so I was fine with that.





hawkeye007
LSU Fan
Member since Feb 2010
4488 posts

re: Current Mortgage Rates
VA jumbo constuction loan is a unicorn, i don't know of any lender that does them. With that said i don't have any advice on them as i have never closed a VA jumbo construction. I know today my non jumbo VA 30yr rate is 2.375%


hawkeye007
LSU Fan
Member since Feb 2010
4488 posts

re: Current Mortgage Rates
21 day closes on a refinance what lender is promising that?


C
Atlanta Falcons Fan
Houston
Member since Dec 2007
26322 posts
 Online 

re: Current Mortgage Rates
quote:

jumbo VA 30yr rate is 2.375%




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