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re: Current Mortgage Rates

Posted on 8/15/20 at 12:47 pm to
Posted by basiletiger
lafayette, la.
Member since Aug 2007
2141 posts
Posted on 8/15/20 at 12:47 pm to
locked in 2.875 waiving the origination fee of $2489.
Posted by Rize
Spring Texas
Member since Sep 2011
15773 posts
Posted on 8/16/20 at 2:26 am to
I locked at 2.6 Friday.
Posted by basiletiger
lafayette, la.
Member since Aug 2007
2141 posts
Posted on 8/18/20 at 8:20 am to
how much was your origination fee....sounds like you bought down.......
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
2772 posts
Posted on 8/18/20 at 9:08 pm to
That’s because the rate absorbed the fees. Trust me. Ain’t doing for free
Posted by Lickitty Split
Inside
Member since Apr 2017
3911 posts
Posted on 8/18/20 at 9:13 pm to
What are the rates looking like on investment properties?

I should get the best rate since you’ve probably made a ton of my thread.
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
2772 posts
Posted on 8/18/20 at 9:28 pm to
What’s the balance, estimated value, and term you looking for?
Posted by Rize
Spring Texas
Member since Sep 2011
15773 posts
Posted on 8/18/20 at 10:58 pm to
quote:

how much was your origination fee....sounds like you bought down.......



I have no idea yet because I did a 45 day lock on new construction. Total I need to bring to closing is around $12,500 to $13,500. That is insurance, taxes and everything else. Taxes ended up being around 6k for EBR give or take $500 and insurance was $1680.
Posted by Chasin The Tiger
Lake Travis, TX
Member since Sep 2012
576 posts
Posted on 8/18/20 at 11:19 pm to
I locked 2.875 on a second home purchase with 10% down on Friday. Bought it down 1/8 of a point. It was 2.75 a couple of days earlier but couldn't lock yet because the sales contract wasn't fully signed. Still feel pretty good about that rate.
Posted by Lickitty Split
Inside
Member since Apr 2017
3911 posts
Posted on 8/19/20 at 8:28 am to
Looking for a 15 or 20 year term, value of the property is around 150k, balance is 110k.
Posted by tankyank13
NOLA
Member since Nov 2012
7721 posts
Posted on 8/19/20 at 2:19 pm to
Doing a cash out refi with my current lender. Loan will be for 232k with a appraisal around 315-320. Taking out 40k. Was quoted 3.25% on a 30 year vs 2.87% on straight up refi. 1100 credit towards closing.
Have credit score of 845.
Are cashout refi typically more expensive?
Posted by hawkeye007
Member since Feb 2010
5851 posts
Posted on 8/19/20 at 2:29 pm to
yes they are depending on the LTV it's going to cost you .25% on the rate.
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
2772 posts
Posted on 8/19/20 at 2:30 pm to
Yes how much depends on loan to value
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
2772 posts
Posted on 8/19/20 at 2:33 pm to
20 year is 3.25 and 15 year is 3.0
Posted by tankyank13
NOLA
Member since Nov 2012
7721 posts
Posted on 8/19/20 at 3:06 pm to
Gotcha thanks
Posted by Lickitty Split
Inside
Member since Apr 2017
3911 posts
Posted on 8/19/20 at 9:58 pm to
Thanks! I’ll probably call you in the next few weeks.
Posted by OTIS2
NoLA
Member since Jul 2008
50109 posts
Posted on 8/21/20 at 10:38 am to
What should a 30 year refi with over 50 % equity be running now? Balance is @390,000.
It's an out of state second home property. Thx
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
2772 posts
Posted on 8/21/20 at 2:51 pm to
what state?
Posted by OTIS2
NoLA
Member since Jul 2008
50109 posts
Posted on 8/22/20 at 6:49 pm to
Loan is in Louisiana. Property is in Colorado.
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
2772 posts
Posted on 8/24/20 at 9:23 am to
sorry not licensed there
Posted by Coomdaddy
KY
Member since Aug 2017
390 posts
Posted on 8/24/20 at 9:25 pm to
Anyone able to loan in KY? Will be going from construction to perm in the next few months.
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