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Posted on 3/3/20 at 12:48 pm to kywildcatfanone
quote:
I saw on bankrate a local lender yesterday with 2.75% $399 closing costs, 0 points. I hope that remains or drops over those next 4 months.
What was the term?
Posted on 3/3/20 at 12:50 pm to cmlsu
15 years
Posted on 3/3/20 at 12:54 pm to kywildcatfanone
Just locked in at 2.625% on a conventional 15 year with $1400 in closing and only appraisal out of pocket.
Down from 4.125 on a 30 year FHA.
This is with a bad middle score in the middle 600s.
Down from 4.125 on a 30 year FHA.
This is with a bad middle score in the middle 600s.
This post was edited on 3/3/20 at 12:57 pm
Posted on 3/3/20 at 1:12 pm to LSURep864
I need these rates to either hold or drop a big by late summer. 
Posted on 3/3/20 at 1:26 pm to LSURep864
quote:
Just locked in at 2.625% on a conventional 15 year with $1400 in closing and only appraisal out of pocket.
How are you guys getting such low closing costs?
My lender provided an updated quote this morning of 3.0% on a 30-year with ~$4,000 in total closing costs ($1,295 in lender fees + estimated title/recording fees of ~$2,700). We don't even need a new appraisal. What portion of those closing costs can we realistically hack down...?
Posted on 3/3/20 at 1:26 pm to kywildcatfanone
quote:
I need these rates to either hold or drop a big by late summer.
same here
Posted on 3/3/20 at 1:33 pm to Jwodie
Three words.
Local mortgage broker.
I shopped around all recommended Nerd Wallet Fintech favorites.
I couldn’t find anything close to what I just got without paying 5k worth of points.
Was a couple hours away from locking in with Quicken and my local broker got back to me and KILLED THEM.
Local mortgage broker.
I shopped around all recommended Nerd Wallet Fintech favorites.
I couldn’t find anything close to what I just got without paying 5k worth of points.
Was a couple hours away from locking in with Quicken and my local broker got back to me and KILLED THEM.
Posted on 3/3/20 at 1:34 pm to Jwodie
quote:rolling the closing costs into the loan
How are you guys getting such low closing costs?
My lender provided an updated quote this morning of 3.0% on a 30-year with ~$4,000 in total closing costs ($1,295 in lender fees + estimated title/recording fees of ~$2,700). We don't even need a new appraisal. What portion of those closing costs can we realistically hack down...?
Posted on 3/3/20 at 1:35 pm to bnb9433
quote:I'm not 100% positive but I believe you can call and get pre-approved which lasts for 6 months. I think you can lock a rate in at that time. Maybe someone else with more info can help
I need these rates to either hold or drop a big by late summer.
same here
Posted on 3/3/20 at 1:39 pm to mylsuhat
quote:
rolling the closing costs into the loan
That's what they're offering, to roll those closing costs into the loan. I'm trying to figure out what, if any, of those costs we can negotiate down.
And this is a local lender, GMFS.
Posted on 3/3/20 at 1:41 pm to mylsuhat
quote:
I'm not 100% positive but I believe you can call and get pre-approved which lasts for 6 months. I think you can lock a rate in at that time. Maybe someone else with more info can help
per my home builder, which i am financing through, it's only good for 90 days. broke ground on my home last week. I can lock in a rate once the house is 60-70% complete.
ETA: on Feb 4 it was 3.625%
This post was edited on 3/3/20 at 1:43 pm
Posted on 3/3/20 at 1:47 pm to bnb9433
Shop around. The big banks suck. I'm trying to get lower than what I have but First Internet Bank of Indiana locked me in last week at 3.375% for 30 years.
No appraisal fee since I'm only two years in. Lender credits wipe out all but about $600 in closing costs.
Nothing is rolled into the loan. You're still paying when they do that just not upfront.
No appraisal fee since I'm only two years in. Lender credits wipe out all but about $600 in closing costs.
Nothing is rolled into the loan. You're still paying when they do that just not upfront.
Posted on 3/3/20 at 1:49 pm to ulsaint
quote:
No appraisal fee since I'm only two years in. Lender credits wipe out all but about $600 in closing costs.
all closing cost were paid. it was an incentive bc i started the process in December 2019.
This post was edited on 3/3/20 at 1:51 pm
Posted on 3/3/20 at 1:51 pm to hawkeye007
Yea, i locked in a 2.625% for 15 year, but looks like it dropped to 2.5% and i think there might be a 1 time float down option.
Posted on 3/3/20 at 3:20 pm to Roberteaux
That’s everything- Eustis mortgage Baton Rouge
Posted on 3/3/20 at 3:49 pm to ulsaint
so not to get to far into this but i work for a major bank here in baton rouge and my rates are just as good as online lenders and my cost is super low. and that 3.375% rate is high with good credit on a 30yr thats why you don't have fees the high rate pays your fees. if you have 740+ credit and are borrowing 200k plus the rate should be 3% today.
if you get a lender credit that's because the rate they gave you is paying you the customer to take the higher rate.
if you get a lender credit that's because the rate they gave you is paying you the customer to take the higher rate.
Posted on 3/3/20 at 3:55 pm to hawkeye007
quote:
if you get a lender credit that's because the rate they gave you is paying you the customer to take the higher rate.
Well I got it last week. Question:
1. Am I locked in with these guys or can I pull out?
Posted on 3/3/20 at 4:10 pm to hawkeye007
quote:
if you have 740+ credit and are borrowing 200k plus the rate should be 3% today
What about cash out refi non jumbo with a 800 score
This post was edited on 3/3/20 at 4:11 pm
Posted on 3/3/20 at 4:16 pm to LSURep864
Where at???
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