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Posted on 10/9/24 at 4:40 am to VermilionTiger
quote:
Let me know
My guy got back with me yesterday and tells me I would qualify for 6.75% on 30 yr fixed. And if I don’t put 20% down then that jumps to 7.25%.
Needless to say I contacted someone else and as of yesterday they told me 6.125%. That new contact also said that last week that number would’ve been 5.75%. Apparently the rates jumped with the new jobs report that came out.
This is all with me at 790, wife at 800, with a 17% DTI.
Posted on 10/9/24 at 9:33 pm to npt817
Anyone have any advice for my specific situation:
Have a construction loan currently. I extended it to December 15th, but house is completed. I can close anytime between now and then. Rates were looking good, but big jump with the job numbers. What would yall do with regards to timing of closing especially with the election and next fed meeting in that timeline?
Have a construction loan currently. I extended it to December 15th, but house is completed. I can close anytime between now and then. Rates were looking good, but big jump with the job numbers. What would yall do with regards to timing of closing especially with the election and next fed meeting in that timeline?
Posted on 10/10/24 at 7:47 am to Tadey
Can you afford the mortgage now?
If so, close
Can you afford the mortgage if it goes back to 7% rates? 8%
If so, close
Can you afford the mortgage if it goes back to 7% rates? 8%
Posted on 10/10/24 at 7:53 am to VermilionTiger
I can afford it at any of those rates.
Posted on 10/12/24 at 12:01 am to ThatsAFactJack
quote:
Yes, one time close, 5.75% during construction, interest only, and 5.75 after loan modification to permanent loan.
Here’s what I was quoted today with 490k down and above 800 credit score.
Feel like it’s a good deal but I have no idea. Will get reimbursed for the closing cost(company move) but not the point buy down.
This post was edited on 10/12/24 at 12:06 am
Posted on 10/22/24 at 12:13 pm to Rize
I just locked in at 5.75% (no points) with a credit union I got directed to by Credit Union Mortgage Association last week. I recommend reaching out to them.
Posted on 10/22/24 at 8:24 pm to Tadey
quote:
I just locked in at 5.75% (no points) with a credit union I got directed to by Credit Union Mortgage Association last week. I recommend reaching out to them.
Man I locked in last Monday for 6.375 with buying down an 1/8th of a point for $1800.
I got nervous because the rates kept going up. I’ll refinance if the rates go down enough and will probably do a recast at some point in the next two years.
Posted on 10/23/24 at 12:21 pm to Rize
I ended up locking in the rate when they started going up (i still missed out on .5%, would have had 5.5% rate if locked week earlier), but the credit union was agreed to lock me out at the rate i was quoted (while i was getting membership and documents to them ~4days) and the credit unions are usually slower to adjust to rate changes because they update less frequently than banks. This on top of already getting a better interest rate from the credit union in the first place. The other quotes I got (local bank, Chase, GMFS) were all at 6.5%-7% for the same loan.
Posted on 10/23/24 at 12:40 pm to VermilionTiger
800 and I got a 2.25 back in April of '21.. and I got it at $89 a Sq ft and it's not a dump..Can't afford to let the place go now
This post was edited on 10/23/24 at 12:40 pm
Posted on 10/23/24 at 4:11 pm to Codythetiger
quote:
800 and I got a 2.25 back in April of '21.. and I got it at $89 a Sq ft and it's not a dump..Can't afford to let the place go now
Here’s your attention
Posted on 10/23/24 at 7:34 pm to VermilionTiger
quote:
Here’s your attention
Posted on 10/29/24 at 11:51 am to SDVTiger
Bump… 
Posted on 10/29/24 at 12:02 pm to VermilionTiger
Not what I was hoping to see.
Posted on 10/29/24 at 2:02 pm to SDVTiger
Fed cuts don’t directly affect mortgage rates. The Fed can only cut the Fed Funds rate. Mortgage rates loosely follow the 10 year U.S. Treasury Note
Posted on 10/29/24 at 3:56 pm to VermilionTiger
Pricing better off the jolts. This is a YUGE week lets hope the bls doesnt fricl us
Cause the numbers still dont jive with this new jolts report
Cause the numbers still dont jive with this new jolts report
Posted on 12/23/24 at 6:29 pm to SDVTiger
Bump..
Posted on 12/23/24 at 11:40 pm to VermilionTiger
6.625% in Texas this week with an 812 credit score. At least I got the house for only $112/sqft.
Posted on 12/24/24 at 10:40 am to The Boat
I’m 780+
Id be happy with that
Id be happy with that
This post was edited on 12/24/24 at 10:56 am
Posted on 12/26/24 at 5:56 am to SDVTiger
Refinancing is a gimmick unless you’re planning on cutting that mortgage in half
When interest was 2-3%, I tried to refinance. My interest is 3.875%. They wanted to increase mortgage $11000 but cut 5yrs off at 3% interest. I said no. If my premiums aren’t lowered refinancing? Then it’s pointless. I’m not worried about saving .8% interest. I was looking to save 2%. But glad I didn’t cause my insurance has already gone up $300 a yr. I’m gonna have to shop around even though not many write Louisiana. State Farm is too much
When interest was 2-3%, I tried to refinance. My interest is 3.875%. They wanted to increase mortgage $11000 but cut 5yrs off at 3% interest. I said no. If my premiums aren’t lowered refinancing? Then it’s pointless. I’m not worried about saving .8% interest. I was looking to save 2%. But glad I didn’t cause my insurance has already gone up $300 a yr. I’m gonna have to shop around even though not many write Louisiana. State Farm is too much
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