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re: Current Mortgage Rates

Posted on 10/14/20 at 12:39 pm to
Posted by BayouBengal23
BR
Member since Mar 2019
632 posts
Posted on 10/14/20 at 12:39 pm to
135,000 starter home with a 713
Posted by tigeralum06
Member since Oct 2007
2891 posts
Posted on 10/14/20 at 12:51 pm to
Where at?
Posted by hawkeye007
Member since Feb 2010
6073 posts
Posted on 10/14/20 at 12:51 pm to
thats a high RD rate. anything above 2.5% is super high. Our RD rate this morning was 2.5%
Posted by natsoundup
Simpsonville, SC, Jupiter, FL,
Member since May 2013
367 posts
Posted on 10/14/20 at 1:00 pm to
For a cash out refinance of $50k, 20 year rate is 2.5% with $631 payment/month

15 year is 2.25% with $780 payment each month

Let me know your email if you want me to price out some more scenarios


Can you write one of those for a home in South Carolina... owned free and clear. 70-80k 30 year?
Posted by MortgageMaven
Baton Rouge
Member since Sep 2020
21 posts
Posted on 10/14/20 at 1:08 pm to
Current VA rates for first time home buyer are 2.25 today with $516 per month payment
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
3167 posts
Posted on 10/14/20 at 1:11 pm to
2.375% this afternoon
Posted by MortgageMaven
Baton Rouge
Member since Sep 2020
21 posts
Posted on 10/14/20 at 1:20 pm to
Yes potentially - here is a good article that can break down your options

LINK

If you want to speak to a lender, we have two offices in South Carolina- One in Mt. Pleasant and one is Summerville.

Mt. Pleasant is LINK

And Summerville is
LINK

Posted by natsoundup
Simpsonville, SC, Jupiter, FL,
Member since May 2013
367 posts
Posted on 10/14/20 at 2:08 pm to
Thanks, appreciate it.
Posted by natsoundup
Simpsonville, SC, Jupiter, FL,
Member since May 2013
367 posts
Posted on 10/14/20 at 2:09 pm to
Thank you!
Posted by AUCE05
Member since Dec 2009
44964 posts
Posted on 10/14/20 at 7:23 pm to
For a 30 year?
Posted by ellesssuuu
Baton Rouge
Member since Mar 2016
3167 posts
Posted on 10/14/20 at 7:54 pm to
Yes RD loan. Actually any government loan is lower than conventional
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82058 posts
Posted on 10/14/20 at 9:47 pm to
quote:

Locked in 2.875% on a 30 year construction to permanent home loan yesterday. 10% down payment

Which bank and how much?
Posted by wasteland
City of peace
Member since Apr 2011
5915 posts
Posted on 10/14/20 at 10:07 pm to
Offered 2.99% on a 30 today
Posted by williejameshuft
New Orleans
Member since Jul 2012
167 posts
Posted on 10/15/20 at 7:37 am to
quote:

Which bank and how much?



I haven't seen them recommended on here but, if you're looking for a construction-to-perm loan in the NOLA area, you should definitely send an application to Eureka Homestead. They lock the permanent financing rate on the front end before construction and quoted us a rate a few weeks ago that was better than 5th District's rate with roughly the same costs. We ultimately decided to wait for lumber prices to cool off but will likely re-bid and move forward with them in a few months. The guy I've been in contact with is Michael: mgonczi@eurekahomestead.com. GL
Posted by MortgageMaven
Baton Rouge
Member since Sep 2020
21 posts
Posted on 10/15/20 at 8:47 am to
We offer a construction to perm product - one time close, 3.5% fixed interest only during construction phase. 700 FICO, 95% LTV.
Posted by hawkeye007
Member since Feb 2010
6073 posts
Posted on 10/15/20 at 10:36 am to
Hancock Whitney has a 90LTV construction product that you can lock in 2.875%. It's a one time close loan also.
Posted by hawkeye007
Member since Feb 2010
6073 posts
Posted on 10/15/20 at 10:37 am to
depending on your credit score thats a high refinance rate and a very high purchase rate
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82058 posts
Posted on 10/15/20 at 11:04 am to
quote:

MortgageMaven
quote:

hawkeye007
Can you post y'alls email address? Friend of mine reads this thread but doesn't have an account to ask.
Posted by hawkeye007
Member since Feb 2010
6073 posts
Posted on 10/15/20 at 2:01 pm to
edhawk75@gmail.com
Posted by natsoundup
Simpsonville, SC, Jupiter, FL,
Member since May 2013
367 posts
Posted on 10/15/20 at 2:40 pm to
I wanted to let you know that I started the application process through your company in South Carolina... thanks.

They have a program called delayed financing which keeps the rate the same as a purchase.. I bought with cash..but need to pay some money back to my 401k. lol
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