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Started By
Message
Mortgage Rate Shoppers
Posted on 5/14/12 at 5:28 pm
Posted on 5/14/12 at 5:28 pm
LOCK!!!! just some friendly advise. the rate today was the lowest i have seen in about 5 months..
3
Posted on 5/14/12 at 7:08 pm to hawkeye007
so what did you get?
Posted on 5/14/12 at 7:16 pm to hawkeye007
It is a full 1/4 percent lower than when I closed last month 
Oh well, won't make THAT much of a difference
Oh well, won't make THAT much of a difference
Posted on 5/15/12 at 9:57 am to Walkertiger
i didnt get anything. i am mortgage banker and everyone is always talking rate and i know there is a few guys shopping refinances so i wanted to advise them to get off the fence and lock.
Posted on 5/15/12 at 1:07 pm to hawkeye007
What is the rate for a 15 year, no points?
Posted on 5/15/12 at 1:18 pm to tenortoga
2.875%-3.0% depending on all the other factors involvled.
Posted on 5/15/12 at 1:58 pm to hawkeye007
quote:
2.875%-3.0% depending on all the other factors involvled.
Can you get 2.875 with no points or closing costs?
Posted on 5/15/12 at 3:09 pm to hawkeye007
Would you advise someone to wait 14 more days to lock if it got them $800 towards closing credit from lender?
Posted on 5/15/12 at 3:32 pm to tenortoga
dont get me started on the no closing cost loans..no i cant get you 2.875% with no closing cost and anyone that says they can is full of shite. title companies dont close loans for free and neither do lenders. i have plenty of customers that come back to me 30-45 days after we talk and they go with some no name broker who quotes them the no closing cost loan. bait and switch is still used in this industry i hate to say.
Posted on 5/15/12 at 3:34 pm to LandOwners
why would the lender give you a credit for waiting longer to lock that doesnt make sense. i have a saying that i live by..if you like it lock it..800 is pennies over the life of the loan. rates are at the lowest they have been all year, i wouldnt be waiting on anything.
Posted on 5/15/12 at 4:38 pm to hawkeye007
quote:
hawkeye007
I'm looking to buy or build in the next year or so. I've only got about 11% of my expected down payment right now, but the interest rate is obviously ridiculously low like you said. Do you think the interest rate will go up to where it negates anything I gain by having a higher down payment? I would have about 16-17% in a year.
Posted on 5/15/12 at 6:53 pm to hawkeye007
30 yr refi rate?
Posted on 5/15/12 at 7:59 pm to hawkeye007
Our in house lender thinks they going lower! Locked two today at 3.875 0/0.
Posted on 5/15/12 at 9:20 pm to hawkeye007
quote:Unless the builder pays closing costs....
dont get me started on the no closing cost loans..no i cant get you 2.875% with no closing cost and anyone that says they can is full of shite.
I closed late April and the builder had said before hand they cover closing costs up to 5K
Closing costs ended up being 6200. In good faith, they covered the extra $1200. I will always recommend them now.
Posted on 5/16/12 at 6:29 am to TigerTatorTots
quote:
I will always recommend them now.
Mind sharing who it was? I'm looking to build in the next year.
Posted on 5/16/12 at 7:12 am to lapistola
As I mentioned in a previous thread, I'm going with the 1-month libor + 1.625 ARM interest only, which is about 1.875 total right now. Going to save hundreds a month on interest payments. Also don't have to pay escrow to them.
Posted on 5/16/12 at 10:08 am to C
Just refinanced for 30yr @ 3.75%
Posted on 5/16/12 at 5:46 pm to lapistola
quote:DSLD Homes. Based in Denham Spring, they build all the way over to Slidell. They won Builder of the Year in 2011, and I can definitely see why
Mind sharing who it was? I'm looking to build in the next year.
Posted on 5/16/12 at 9:41 pm to TigerTatorTots
They are actually building you a home? What are they letting you pick out?
Posted on 5/16/12 at 10:54 pm to Franktowntiger7
I picked the floor model I liked. Its not custom, they have 15 or so floor models to choose from
ETA: But you do have full say in what goes on the inside
ETA: But you do have full say in what goes on the inside
This post was edited on 5/16/12 at 10:55 pm
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