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Started By
Message
Today's Mortgage Rates
Posted on 2/7/20 at 7:17 pm
Posted on 2/7/20 at 7:17 pm
I was quoted the following rates today (refi if that maters) - all 30 year. Loan amount $268,800.
4.5% - $1362 P/I
4.375% - $336 at closing - $1342 P/I
4.25% - $672 at closing - $1353 P/I
4.125% - $336 at closing - $1303 P/I
4.0% - $1344 at closing - $1283 P/I
3.785% - $2688 at closing - $1264 P/I
VA loan:
30 year - 3.75% - $1,235 P/I plus a $9,000 funding fee
15 year mortgage is 3.75%
Thoughts?
Thanks in advance.
4.5% - $1362 P/I
4.375% - $336 at closing - $1342 P/I
4.25% - $672 at closing - $1353 P/I
4.125% - $336 at closing - $1303 P/I
4.0% - $1344 at closing - $1283 P/I
3.785% - $2688 at closing - $1264 P/I
VA loan:
30 year - 3.75% - $1,235 P/I plus a $9,000 funding fee
15 year mortgage is 3.75%
Thoughts?
Thanks in advance.
7
Posted on 2/7/20 at 7:30 pm to greenbean
Why would you do this
When you can do this
quote:
4.5% - $1362 P/I
When you can do this
quote:
3.785% - $2688 at closing - $1264 P/I
Posted on 2/7/20 at 7:31 pm to prostyleoffensetime
quote:
hy would you do this
quote:
4.5% - $1362 P/I
When you can do this
quote:
3.785% - $2688 at closing - $1264 P/I
Thanks, that's what I was thinking.
Do the rates look good, or are there lower rates out there?
This post was edited on 2/7/20 at 7:43 pm
Posted on 2/7/20 at 8:24 pm to greenbean
Seem high to me. Thought 30yr fixed would be in the 3.6-3.85 range. Refinances not get as good of rates as new purchases?
Posted on 2/7/20 at 8:25 pm to Coomdaddy
I just got 3.6 on a 30
Posted on 2/7/20 at 8:47 pm to jimbeam
How did you use? How much did you pay at closing? I'm see much lower rates on line than what I was quoted.
This post was edited on 2/7/20 at 8:49 pm
Posted on 2/7/20 at 9:04 pm to greenbean
30 year Refinance Quoted today:
3.5% 0.256 points
3.375% 0.739 points
3.25% 1.285 points
Chase
3.5% 0.256 points
3.375% 0.739 points
3.25% 1.285 points
Chase
Posted on 2/7/20 at 9:37 pm to greenbean
You should be getting lower than that unless it's a cashout refi or your credit score is low.
Posted on 2/7/20 at 10:28 pm to greenbean
Those are high. I was locking customers in today at 3.5% and that’s not charging any points.
Posted on 2/8/20 at 8:26 am to GeauxPack81
Refi, i'm pulling out cash to buy investment property. We owe $99,000 on our home which is appraised at $336,000. Credit score is 780. New load is $286,000.
Posted on 2/8/20 at 8:33 am to greenbean
Rate should be in upper 3’s on a 30 year
Posted on 2/8/20 at 9:27 am to greenbean
NVM read it wrong
This post was edited on 2/8/20 at 9:28 am
Posted on 2/8/20 at 9:27 am to ellesssuuu
Can’t judge without knowing your credit score and history.
More important IMO is knowing what your objectives and cash flow situation is.
I looked at a 15 year but ended up with a higher rate on a 30 year because i wanted the flexibility of making double or triple payments when I’m able without being locked in at that pace if I lose my job or something.
More important IMO is knowing what your objectives and cash flow situation is.
I looked at a 15 year but ended up with a higher rate on a 30 year because i wanted the flexibility of making double or triple payments when I’m able without being locked in at that pace if I lose my job or something.
Posted on 2/8/20 at 9:40 am to tide06
quote:
Can’t judge without knowing your credit score and history.
Score is 780, I understand the only reason it is not higher is because we don't have much debt (makes no sense?). Never late on a payment, joint income over $250k, assets nearing a million.
Posted on 2/8/20 at 4:34 pm to greenbean
quote:
Score is 780, I understand the only reason it is not higher is because we don't have much debt (makes no sense?). Never late on a payment, joint income over $250k, assets nearing a million.
You should be able to get better rates than you posted. Just a quick search shows lots of 3.5-3.75 rates on a 30 year, and 3% on a 15.
Posted on 2/8/20 at 4:40 pm to kywildcatfanone
I talked to a lender yesterday that said you could get a 30 year mtg rate for between 3.375 and 3.5 depending on credit.
Posted on 2/8/20 at 5:23 pm to greenbean
Your rate is at least 0.25% higher because you are taking cash out. Everyone in here replying is googling and 99% of online advertisements only quote purchase or rate/term rates.
Your transaction is a cash out refinance. Are you sure they are able to lend you 286k and you're worth 336k? Conventional loans are limited to 80% when you cash out, you would be at 85%. VA does allow above 85%.
Your transaction is a cash out refinance. Are you sure they are able to lend you 286k and you're worth 336k? Conventional loans are limited to 80% when you cash out, you would be at 85%. VA does allow above 85%.
This post was edited on 2/8/20 at 5:26 pm
Posted on 2/8/20 at 5:26 pm to SomethingLikeA
Correct, my rate above was a traditional refi, not a cash out. I was just giving a reference. Based on that, you shouldn’t pay any more than 3.75 on a cash out.
Posted on 2/9/20 at 8:01 am to LSU1018
quote:
Correct, my rate above was a traditional refi, not a cash out. I was just giving a reference. Based on that, you shouldn’t pay any more than 3.75 on a cash out.
Thanks, that is fantastic information.
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