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Started By
Message
re: mortgage interest rates
Posted on 3/5/20 at 6:59 pm to ellesssuuu
Posted on 3/5/20 at 6:59 pm to ellesssuuu
How exactly does locking work? If I lock, am I pretty much tied to that lender, or is ok to still shop around?
2
Posted on 3/5/20 at 7:24 pm to mctiger1985
You can shop around
Posted on 3/5/20 at 7:28 pm to MrJimBeam
quote:
Considering the jump down again but I just don't know how much I care to do it
I’m at 3.75 on my 30 year as well and debating refinancing into another 30. Planning to turn this house into a rental in 2-3 years. I think I have to do it...
Posted on 3/5/20 at 7:59 pm to PhiTiger1764
quote:
I’m at 3.75 on my 30 year as well and debating refinancing into another 30. Planning to turn this house into a rental in 2-3 years. I think I have to do it...
Yes, rentals are all about cash flow.
Posted on 3/5/20 at 8:21 pm to macatak911
quote:
just starting to call around but figured id start with quicken loans as they have a quick turnaround.
15 year
3.25 $5,491 in costs
2.5 $10,355 in costs
ewww
I got a 20 year at 3.375 locked in today from Quicken. $6,000 in closing cost rolled into the loan and $500 appraisal. Not sure what to think of that honestly. My original loan was 4.375 in 2018.
I plan to shop around some more.
Posted on 3/5/20 at 8:35 pm to SwayzeBalla
Try standard mortgage. Locked in a 20 year at 2.875% with $3,789.00 in closing costs. They also service the loan if that matters to you.
Posted on 3/5/20 at 9:14 pm to HYDRebs
quote:
10 year Treasury now pushing the boundary of .9% Went just below it briefly. Would not be surprised to see it push through it over night at this point.
Happening now broke through down to .8%. We may be closer to negative rates than thought possible. The move down since starting around Valentine's has been insane to watch.
Posted on 3/5/20 at 9:36 pm to mctiger1985
No once you locked we can do a one time renegotiation if rates move down
Posted on 3/5/20 at 9:41 pm to SwayzeBalla
I can do better than that. What state are you in?
Posted on 3/6/20 at 4:35 am to LSUFootballLover
quote:
Where did you get this rate TigeRoots?
Local shop in BR. A friend of mine. Went from 30-20 with him in 2016. Pretty painless. If you want to post your contact info I can put him in touch with you.
Posted on 3/6/20 at 6:15 am to ellesssuuu
quote:
What state are you in?
Mississippi
Posted on 3/6/20 at 6:33 am to SwayzeBalla
i locked in 30 years at 3.125% yesterday. no appraisal fees and closing cost at about $1,000 since it is the same mortgage company i used to close my construction loan in July. They called me.....
Posted on 3/6/20 at 6:35 am to SwayzeBalla
Swayze you should be getting 3% on the 20 with less closing costs. Email me at my username @ gmail and I’ll give you what rate We could give you on that. Rates could look even better this morning if the 10 year treasury holds around .75%
Posted on 3/6/20 at 6:59 am to SwayzeBalla
I can do Mississippi. Message your email and I can work up some numbers for you
Posted on 3/6/20 at 7:12 am to ellesssuuu
Can you do TX? I’m shopping around
Posted on 3/6/20 at 7:14 am to ellesssuuu
quote:
I can do Mississippi. Message your email and I can work up some numbers for you
Can you shoot me an email if you can beat what I posted above?
2.625% today for 15, $4k closing, $550 appraisal.
This post was edited on 3/6/20 at 9:53 am
Posted on 3/6/20 at 7:26 am to Core
Yes send me your contact information
Posted on 3/6/20 at 8:38 am to HYDRebs
Email sent
Also, ellesssuuu, what is the best way to get you my contact info?
Posted on 3/6/20 at 9:06 am to hawkeye007
Just refinanced my 30 year loan after only 2 years. Went from a 4.175% down to a 3.275%. Knocked close to $300 off the monthly note even with all closing costs rolled into the loan. We were already paying more than the minimum mortgage before so we are going to just keep paying that now with the cheaper not.
Going to end up paying off our loan faster now with the refinance than if we hadn’t reset the mortgage.
Going to end up paying off our loan faster now with the refinance than if we hadn’t reset the mortgage.
Posted on 3/6/20 at 10:01 am to baldona
quote:
You can call them whatever you want, but yes they are expenses to close your mortgage even to refinance. Its money that has to be brought to the table. Not everyone, including you considering you don't know what an APR is, is a mortgage pro on this board. There's a lot of variation to closing "costs", so I was just throwing it out there that some maybe including those and some may not so if your costs are $6000 and you can't figure out why when someone else's maybe $2500 for instance.
I do not understand why you are so sensitive or ranting on this. I was agreeing with you and merely clarifying your vague passive aggressive throwing out there. They should not be used when discussing in this thread because they are not comparable to other people.
They are part of Cash to Close but they are not closing costs. In my Lender Documents emailed to me it has two lines Prepaids Items /Reserves and Closing Costs Paid by Borrower. Then Total Cash Needed to Close.
You cannot shop these around and you cannot compare them to other people/lenders in this thread.
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