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1
Posted on 3/3/20 at 4:20 pm to ulsaint
No but appraisals don't transfer lender to lender
Posted on 3/3/20 at 4:29 pm to hawkeye007
I'm hearing from some friends in mortgage business that rates on 30 yr are expected to drop below 3% by Friday. I know it's pretty much just speculation, but what do you mortgage guys on the MT board think?
Posted on 3/3/20 at 4:36 pm to MaxDraft
that's wishful thinking. this slide stops once the market post gains for 2 straight days. also don't sleep on 3% hoping for 2.875%
Posted on 3/3/20 at 4:51 pm to hawkeye007
I just got 2.875 for 30yr no points.
Hancock Whitney.
ETA: I should mention this is on a jumbo loan so that plays a factor.
Hancock Whitney.
ETA: I should mention this is on a jumbo loan so that plays a factor.
This post was edited on 3/3/20 at 5:09 pm
Posted on 3/3/20 at 5:03 pm to hawkeye007
So how does this deal sound? 3% at 30 yr on $465k. My middle credit score was 785. Closing costs come out about $8k...lender credit of $1100, knocks it down to about $7k. My plan is to pay cash on closing and then make myself whole with refund of my existing escrow account for about $6k. My payments will drop about $200 monthly on this deal. Anything sound out of line? Jump on it at 3%?
Posted on 3/3/20 at 5:04 pm to Oenophile Brah
@Oenophile Brah, that in BR?
Posted on 3/3/20 at 5:08 pm to MaxDraft
quote:
MaxDraft
Nah, in NOLA but someone in BR at Hancock Whitney can probably help. I do have a fairly long standing relationship with them so that may be influencing the rate.
Posted on 3/3/20 at 5:11 pm to Oenophile Brah
quote:
Nah, in NOLA but someone in BR at Hancock Whitney can probably help. I do have a fairly long standing relationship with them so that may be influencing the rate.
Gotcha. That makes sense. My friendly mortgage broker says he's giving me their friends and family deal. Lol I don't know if that's true or not...
Posted on 3/3/20 at 5:24 pm to MaxDraft
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
15 year
3.25 $5,491 in costs
2.5 $10,355 in costs
ewww
Posted on 3/3/20 at 5:25 pm to Oenophile Brah
LOL i bet i know your loan officer!
Posted on 3/3/20 at 5:26 pm to MaxDraft
jump that's the best rate rate i am handing out right now on 30yrs
Posted on 3/3/20 at 6:22 pm to MaxDraft
quote:
My plan is to pay cash on closing and then make myself whole with refund of my existing escrow account for about $6k
Wait, this is something I can do rather than rolling the refi closing costs into the new loan amount?
Posted on 3/3/20 at 6:42 pm to Jwodie
Theoretically, yes. It may take a while for your existing escrow account to close out and be refunded back to you. So my plan is to close with $6k cash out of my pocket and then just deposit my escrow refund when it comes in...probably a month or so after closing on the refinance.
Posted on 3/3/20 at 7:27 pm to BoxComboNoSlawXToast
quote:
Where at???
Benchmark Mortgage, my local branch here in SC.
Posted on 3/3/20 at 7:39 pm to hawkeye007
I just locked in a refi on a 30 year jumbo for 2.875, 0/0. Unfricking believeable
Posted on 3/3/20 at 7:48 pm to ItNeverRains
Any recommendations for loan broker in NO area?
Posted on 3/3/20 at 8:38 pm to hawkeye007
I didn’t go online, but I got this today. 3% on 20 year.
Over 800 credit
Over 800 credit
Posted on 3/3/20 at 8:39 pm to hawkeye007
That’s a great point
Posted on 3/3/20 at 8:53 pm to Roberteaux
Local lender. I’m not sure of the fees. I just know it’s 3% on 20 year
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