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Started By
Message
Mortgage Rate update.
Posted on 4/1/20 at 2:08 pm
Posted on 4/1/20 at 2:08 pm
Guys if you can wait on a refinance the rates will get better. There is a daily move on interest rates up or down. The rates are still high due to the volume of last month. The 15yr rate has been higher than the 30yr rate with my investors all this week. Once this country goes back to work the investors will quit being scared that you will loose your job. The mortgage investors are super scared right now. Also the IRS has stopped processing 4506T request from all lenders. This is a huge deal on all jumbo loans as most investors require 4506T forms completed on all jumbo loans. if your locked in get it closed. If your not wait 30-60 days and the rate will be better. Also when this refinance boom is over i am taking a really long vacation my mind is fried at this point.
11
Posted on 4/1/20 at 2:16 pm to hawkeye007
Does any of that effect commercial loans?
Posted on 4/1/20 at 2:17 pm to hawkeye007
Thanks for the advice. I got an offer for 3.25% on a 30. I'm at 3.75% already and I can't stand all the bullshite fees. My breakeven would be 4 years, so I'll wait to see if rates come down to 3% and maybe less fees.
Posted on 4/1/20 at 2:37 pm to Sho Nuff
I closed monday on my refi. 2.75 for 15 yrs. I was at 3.875
Posted on 4/1/20 at 2:39 pm to hawkeye007
I close friday on a 15 year at 2.65%.
Posted on 4/1/20 at 2:42 pm to hawkeye007
I'm locked in on 2.7% for a 10 year from 3 weeks back, just waiting for my credit union to get caught up. I'll be knocking over 40k off my payoff amount.
Posted on 4/1/20 at 2:46 pm to bushwacker
I am closing tomorrow on a 20 year at 2.875%
Posted on 4/1/20 at 3:26 pm to hawkeye007
Just closed this morning on my 15 year 2.625% with $500 back. Closing was about 4K
Went down from a 4.125% 30 years FHA loan.
Feels good man. Also no mortgage payment until June. Feels good as well during this crazy time.
Went down from a 4.125% 30 years FHA loan.
Feels good man. Also no mortgage payment until June. Feels good as well during this crazy time.
Posted on 4/1/20 at 4:11 pm to hawkeye007
What are they currently?
Posted on 4/1/20 at 4:14 pm to blades8088
Closed yesterday and went from a 4.125% on a 30 year with 24 years left to a 2.75% on a 15 year. I recommend the OP to anyone that wants to refi. He does a great job.
Posted on 4/1/20 at 4:51 pm to bushwacker
quote:
I closed monday on my refi. 2.75 for 15 yrs. I was at 3.875
This is exactly what I did except I closed today.
Posted on 4/1/20 at 6:58 pm to hawkeye007
Just closed on a 30 year VA at 2.875. Was at 3.99
Posted on 4/1/20 at 7:15 pm to LSURep864
quote:
Also no mortgage payment until June
How did you swing this?
Posted on 4/1/20 at 7:35 pm to PhiTiger1764
Looking for mortgage right now for an investment property, the property is only $49900 and I am finding out that most companies have a 50K Min. Any recommendations beside pay cash?
Posted on 4/1/20 at 7:41 pm to Tigercowboy
Make the purchase price $100 more and have the sellers give you $80 and a handjob or $50 and a blowjob
Posted on 4/1/20 at 7:56 pm to POCKET
I was going to offer 45K but I guess I could offer 50 and ask for closing cost.
Posted on 4/1/20 at 7:57 pm to bushwacker
Are y’all closing from the mad rush a few weeks back? My Apprasial just went thru, seems to be a fairly slow process.
Posted on 4/1/20 at 8:57 pm to corym52
I see everyone closing cost around 3500 or so. I’m happy with my appraisal
Process and appraiser. Shoutout chuck.
But my closing costs I think are around 7k which I thought was stupid high
Process and appraiser. Shoutout chuck.
But my closing costs I think are around 7k which I thought was stupid high
Posted on 4/1/20 at 9:27 pm to PhiTiger1764
quote:
How did you swing this?
Honestly have no clue. I expected skipping one month not two. Has to be related to the closing date or something I’m not sure.
But it was in my closing documents so it’s finalized.
This post was edited on 4/1/20 at 9:28 pm
Posted on 4/2/20 at 5:49 am to hawkeye007
Jumbo is still stupid expensive given the market
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