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Posted on 3/17/20 at 5:48 pm to MaxDraft
Offer I had was from an in home local bank
Posted on 3/17/20 at 5:49 pm to lsuguy13
Reach out to the following places... I assume you're in BR?
Area Home Lending
Assurance Financial
GFMS
Those are usually all very competitive and will compete against each other.
Area Home Lending
Assurance Financial
GFMS
Those are usually all very competitive and will compete against each other.
Posted on 3/17/20 at 6:30 pm to MaxDraft
Lafayette
Posted on 3/17/20 at 6:38 pm to lsuguy13
Call around. Or get on websites and email them directly with your stats/what you're looking for.
Posted on 3/17/20 at 6:44 pm to lsuguy13
quote:
Lafayette
That doesn't matter. Call the ones I mentioned, or go to their websites.
Posted on 3/17/20 at 7:01 pm to lsuguy13
Apparently Kessler Federal Credit Union has been offering some very good rates in your area.
I called them, but unfortunately, they don't cover Tennessee
I called them, but unfortunately, they don't cover Tennessee
Posted on 3/17/20 at 7:50 pm to lsuguy13
Just put 3.5% down FHA and get the 2.75% 30yr
Keep the other 16.5% in your pocket
Dont listen to anyone who tells you otherwise
Keep the other 16.5% in your pocket
Dont listen to anyone who tells you otherwise
Posted on 3/17/20 at 8:39 pm to SDVTiger
Explain that to me like I’m stupid and naive
Posted on 3/17/20 at 9:40 pm to lsuguy13
Call the assurance guy above or call someone like Hancock Whitney or other local Lafayette bank or mortgage broker. 15 yr fixed is around 2.5 and 30 is around 3.5-3.75 (or was before crash)
I’ve done business w Assurance here in LC. Good company.
NO fricking way you should touch an Arm loan right now.
I’ve done business w Assurance here in LC. Good company.
NO fricking way you should touch an Arm loan right now.
This post was edited on 3/17/20 at 9:43 pm
Posted on 3/17/20 at 9:59 pm to TopWaterTiger
Hancock has temporarily suspended originating home loans right now
Posted on 3/17/20 at 10:04 pm to MaxDraft
quote:
I'm halfway thru the refi process on a 30 yr at 2.99%.
WTF? What lender?
Posted on 3/17/20 at 10:10 pm to Sho Nuff
Assurance. I locked in about 2 weeks ago.
Posted on 3/17/20 at 10:11 pm to MaxDraft
Posted on 3/17/20 at 10:13 pm to Sho Nuff
He’s right locked several a little over a week ago. There a little higher right now
Posted on 3/17/20 at 10:14 pm to lsuguy13
quote:
Explain that to me like I’m stupid and naive
Apply for an FHA loan. Any realtor or broker will know what this. You only have to put down 3.5% and they have very competitive rates. Do something else (stock market) with the rest of the money you were going to use for the down payment.
Personally, as someone who has done this, I wouldn’t do it unless you’re planning on staying there for 10+ years. It takes forever to build any equity when you put so little down. But, I was young and getting married and in we need to buy a house mode because the rental houses were shitty. I also didn’t have much of a cushion so that’s part of why it felt like hell catching up.
If it’s your forever home then FHA and putting the rest of the down payment to work in the market isn’t a bad idea at all, but if it’s a first home or a bridge to your forever home, it’s not all that great.
Just one guy’s opinion.
Posted on 3/17/20 at 10:15 pm to lsuguy13
quote:
So trying to buy a house ASAP.
Even if you must live in a luxury hotel in the interim (which may slash rates), get a fixed rate mortgage. You'll win. Definitely now, you'll win. May be many hoops, which result from the to and fros of the bank with the Fed, but you'll do MUCH better. Likely 5 more years on term, as well.
Posted on 3/17/20 at 10:24 pm to ellesssuuu
quote:
He’s right locked several a little over a week ago. There a little higher right now
I really hate the mortgage game. I'm at 3.75% so not like it's bad but I wanted to refi if I could get to 3% range. I guess I wasn't paying enough attention and missed and now even though fed cut rates banks are going up because of S&D.
Posted on 3/17/20 at 10:28 pm to lsuguy13
quote:
Explain that to me like I’m stupid and naive
What is the purchase price
Posted on 3/17/20 at 10:48 pm to SDVTiger
264k
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