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1
Posted on 8/31/20 at 4:47 pm to ellesssuuu
Damn, thanks for checking.
Posted on 9/2/20 at 12:44 pm to LSUShock
Just locked in at 2.5% with no points on a 30 year conventional second home loan. Yesterday it was 2.625 and I had to wait until today to lock and I am glad I did!
Posted on 9/2/20 at 7:52 pm to Chasin The Tiger
Who did you bc get the 2.5 through
Posted on 9/2/20 at 8:09 pm to PotatoChip
Max Leaman out of Austin, TX. His company is the top rated broker out there.
This post was edited on 9/2/20 at 8:10 pm
Posted on 9/4/20 at 8:37 am to Chasin The Tiger
get your refinances in before the FHFA bump is re-instated
Posted on 9/4/20 at 8:57 am to ellesssuuu
Signed the closing papers last week on a 2.375% 15 year with no points. I was previously sitting on a 30 year at 4.875%
Posted on 9/4/20 at 9:07 am to FulshearTiger
Locked in 2.75 on a 30year va jumbo last month. They offered to float down to 2.25 for $5600 in points. Probably going to take it. Payback in less than 3 years. Just waiting on the final paperwork
Eta: locked in today at 2.25 with $4000 in points. Very pleased.
Eta: locked in today at 2.25 with $4000 in points. Very pleased.
This post was edited on 9/4/20 at 9:40 pm
Posted on 9/4/20 at 9:11 am to C
Just did the same
Posted on 9/15/20 at 8:13 pm to C
quote:
Yes have to pay .5% for va funding fee
Unless you are 100% disabled.
Posted on 9/15/20 at 9:09 pm to C
Damnnnn. We got 2.8 on a 30 year jumbo
Posted on 9/15/20 at 10:30 pm to MSTiger33
I have one quick question.
If I'm locked in with a rate with one lender and another lender comes along and offered a better rate, is it unreasonable to ask the first lender to try to adjust the terms to match or since the rate is locked is he unable to do anything? Nothing has been signed yet.
If I'm locked in with a rate with one lender and another lender comes along and offered a better rate, is it unreasonable to ask the first lender to try to adjust the terms to match or since the rate is locked is he unable to do anything? Nothing has been signed yet.
Posted on 9/16/20 at 6:05 am to Hammond Tiger Fan
Have the rates went back up slightly? I was quoted 3.0 for 30 on a refi yesterday?
Posted on 9/16/20 at 8:54 am to Hammond Tiger Fan
No that is not unreasonable
Posted on 9/16/20 at 11:53 am to gsvar2004
rates are up on refinances. I havent seent the 30yr under 3% in a couple of weeks. Rates on purchases are still very low. 2.5-2.6% range .
Posted on 9/16/20 at 1:44 pm to Lickitty Split
For you mortgage professionals on here, any experience with people being able to refinance with low income but have significant assets? This is probably more common for retirees.
I've read that smaller banks, credit unions, direct lenders etc can be more flexible with income requirements as they aren't always selling their loans for sale to Freddie or Fannie.
Also, I've read that some lenders will do an asset depletion loan but don't think I have enough for that based on the formulas I've seen to impute an income.
House is worth 520k, mortgage balance is 398k, FICO of 843. Haven't missed/deferred any payments.
Thanks
I've read that smaller banks, credit unions, direct lenders etc can be more flexible with income requirements as they aren't always selling their loans for sale to Freddie or Fannie.
Also, I've read that some lenders will do an asset depletion loan but don't think I have enough for that based on the formulas I've seen to impute an income.
House is worth 520k, mortgage balance is 398k, FICO of 843. Haven't missed/deferred any payments.
Thanks
Posted on 9/16/20 at 2:17 pm to hawkeye007
quote:
rates are up on refinances. I havent seent the 30yr under 3% in a couple of weeks. Rates on purchases are still very low. 2.5-2.6% range
why the discrepancy, do you make more up front on new purchase?
Posted on 9/16/20 at 4:18 pm to nolaks
thank the feds... the rates are high to slow down the refinance boom. Freddi Mac and Fannie Mae are holding more mortgages due the refinance boom and they got nervous. They reversed there stance on adding .5 % to the rate but didn't lower there rates so refinance rates are artificialy high right now.
Posted on 9/16/20 at 4:26 pm to gpburdell
you are going to need to have your deposits with a bank that does portfolio loans. The bad part is for example where i work we do portfolio loans but the rates are higher than loans we sell so it makes them not as attractive.
Posted on 9/16/20 at 7:31 pm to gpburdell
Non QM
Asset dissipation is your program
Asset dissipation is your program
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