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Message
re: Mortgage Rates
Posted on 3/30/09 at 4:10 pm to Colonel Hapablap
Posted on 3/30/09 at 4:10 pm to Colonel Hapablap
bankrate is the national average of interst rates. most people dont know that your rate can vary from state to state. texas being the best state to get a great rate. there rates are .25 better than most. bankrate is only going to help you see what everyone is doing. find a good mortgage guy .
2
Posted on 3/30/09 at 4:37 pm to bignate76
Bignate, I took a good hit in pay in 2008 and now my debt to income is out of whack. Whats my best option to refi? I have a 1st and 2nd mortgage with about 15% equity.
Posted on 3/31/09 at 8:25 am to bignate76
quote:
i tell all my customers get in line..get your loan ready when you see 4.5% LOCK IT. if you lock that rate and dont have your loan ready you will pay to keep that rate.
bignate, which bank do you work for?
Posted on 3/31/09 at 11:13 am to bignate76
quote:
texas being the best state to get a great rate
I assume that means texas residents as opposed to where you happen to be? B/c you keep quoting rather attractive rates, as a Virginia resident it's tempting.
Posted on 3/31/09 at 2:58 pm to foshizzle
Well according to Bankrate, Louisiana has some of the highest (if not the highest) average rates right now. But I've been quoted 4.5 for 30 years. Getting everything in to lock now.
Posted on 3/31/09 at 8:14 pm to bignate76
quote:
i work for Assurance Financial Group
You work for Kenny?
Steve?
Posted on 3/31/09 at 8:15 pm to spslayto
quote:
But I've been quoted 4.5 for 30 years. Getting everything in to lock now.
Do you have to buy down your rate? This is a separate fee from the origination fee.
Posted on 3/31/09 at 8:47 pm to bignate76
quote:
no i am quoteing la rates. i just tend to make other brokers have bad days.
Ah, damn. Thought so but had to ask.
Posted on 4/1/09 at 7:37 am to foshizzle
those of you who are receiving 4.5-4.75% quotes, if you don't mind please post the name of the financial institutions who are quoting you these rates.
Posted on 4/1/09 at 7:38 am to bignate76
nate, please email me at darrowkid@yahoo.com
Posted on 4/1/09 at 12:09 pm to Hammond Tiger Fan
Hancock Bank. Rate went up to 4.625 and I haven't locked yet, but I will let you know how many points I have to buy to get that rate.
Posted on 4/1/09 at 12:10 pm to Hammond Tiger Fan
bignate.
Posted on 4/1/09 at 12:31 pm to Will Cover
I work for Van in baton rouge
Posted on 4/1/09 at 12:33 pm to bignate76
guys the rate moves everyday.so if someone quotes you a rate one day not unless you lock it more than likely it will go away. the good thing is it will come back. 4.5% rotates itself out of the mix twice a month. so like i stated earlier you just get inline and a lock when your file is close to being done. not unless your broker has a company with blazing fast turn times
Posted on 4/1/09 at 12:53 pm to Hammond Tiger Fan
quote:
those of you who are receiving 4.5-4.75% quotes, if you don't mind please post the name of the financial institutions who are quoting you these rates.
Regions - 4.625% with a 720 credit score or above
No points BUT - $500 upfront fee (includes appraisal), and another $2600 in whatever fees.
Whitney - 4.75% with 740 credit score - PLUS ONE POINT
or 5.25% with no points
Roughly $2350 in fees - factor in the 1 point, and it ends up being more expensive than Regions, not to mention the higher interest rate.
Can anybody else mention a few other places with these rates - and their fees??
Posted on 4/1/09 at 2:07 pm to bignate76
What is taken in account when applying for a home loan? I'll be looking for a house this year. I'm a first time home buyer. My credit score is 725-740 between the three credit bureaus and my DTI ratio right now is 16% (It's 10% not including my rent. I was told that you only include what you owe another creditor. Is this true?). What else will a lender look at and what kind of rate can I expect?
This post was edited on 4/1/09 at 2:23 pm
Posted on 4/1/09 at 3:00 pm to Phate
DTI,credit score and downpayment..thats the big 3
Posted on 4/1/09 at 3:27 pm to bignate76
quote:
DTI,credit score and downpayment..thats the big 3
Ok so based on the numbers I put for the first two and let's say I put 5% down. How good of a rate could I get and where is the best place to go for a loan?
Posted on 4/1/09 at 3:30 pm to Phate
your way ahead of yourself. to be honest with you within the next 3 months there want be to many lenders letting you put down just 5% alot of them have already gone to min. 10% down. FHA will always be 3.5% down for the time being. you should be able to get a rate under 5% for the next 2-3 months. its hard to judge it after that
Posted on 4/2/09 at 12:49 pm to bignate76
Bignate -
How can I get in touch with you? I am closing on a home April 24th and I am using Wells Fargo in Ohio (long story how I got hooked up with them). I am locked in at 4.6% right now, however they have me very concerned that they can actually meet that closing date. Keep in mind that they have had 45 days to be prepared.
I may want to jump ship if I can get similar terms with someone local (I live in Lafayette).
dback17@cox.net
How can I get in touch with you? I am closing on a home April 24th and I am using Wells Fargo in Ohio (long story how I got hooked up with them). I am locked in at 4.6% right now, however they have me very concerned that they can actually meet that closing date. Keep in mind that they have had 45 days to be prepared.
I may want to jump ship if I can get similar terms with someone local (I live in Lafayette).
dback17@cox.net
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