question for mortgage guys
- Thread starter snoozer
- Start date
how about Kentucky?
owe $114K conservatively worth $160K
rate is 5.875%.
I've refinanced several times. The mortgage company will close it for me for $500 in closing costs.
I have no idea what the rates even are now (I always find the search engine rates are complete bs).
thanks,
C
owe $114K conservatively worth $160K
rate is 5.875%.
I've refinanced several times. The mortgage company will close it for me for $500 in closing costs.
I have no idea what the rates even are now (I always find the search engine rates are complete bs).
thanks,
C
Sports,
I am locking rates from 4.75 to 5.75 depending on credit scores and LTV(Loan to Value)...
Many variables as you know....
I went back a saw your post regarding the companies selling off your loan servicing, did you have a bad experience with that?...
Franky
P.S. Edit; And the Prime rate was just lowered 3/4% to 6.5% :scared . Thats a whole different animal vs. mortgage rates however.
Will be out on some appts. back later...
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Franky, just finalized a deal on a house and signing the papers tommorrow. Was quoted 5.375 today by my guy(excellent credit) and the closing date is Feb 28. The question is should I wait until Tuesday(30 days) or should I not wait and lock in tommorrow and pay extra. I know it's not an exact science but was looking for your imput. Thanks Alot
Just a shameless reminder that if anyone has any questions or needs and Franky can't help due to location, please feel free to give me a shout. Details and instructions on how to contact me located earlier in this thread.
Thanks and good luck - LA Burns
Thanks and good luck - LA Burns
No problem Sports - looking like 4.625% +1 on a 15 year at the end of business today - feel free to give me a shout any time
LA Burns
LA Burns
Absolutely! That goes for anyone who needs help with this stuff, just let Jack know, and its no problem as far as I'm concerned....
Jinx,
Boy, that is a tough one. I assume LTV is under 75% with this one.
My personal opinion is this; that rates are going to continue to drop, but not a whole lot more where it will make that big of difference. Lets face it, we are all gamblers in one way or another, so trying to time the rate market is just like any other wager:142smilie
One thing to be aware of Jinx, is the supply and demand factor. Soon as everybody and their uncle decides to refinance, rates WILL go up. But there are so many variables. :shrug:
One thing you have done I assume, is that your loan package is already approved, and your just waiting to lock the rate, am I correct?
All others who are on the fence should get their paperwork togther NOW, so you can jump when the so called bottom hits :0corn
All the others I have emailed, Iam working on your loans, and will get back to you. Been a tad busy, thats why I'm in the orifice now :mj01:
Franky
franky...
i just spoke to wash.mutual.....they are presently handling a variable mortgage (5 yr. arm) that is coming due in a few months on one of my rental properties. they offered me a fixed rate of 5.5% to refinance with no verification or no paperwork & with the closing costs (about $1000) rolled into the mortgage...the bottom line is that i'll be saving about $60 a month in mortgage payments with no out of pocket expenses...
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Good thread... lots of info offers to help out!!
On Rates...My son just called me for my take on a 0 point 6% offer to refi a BIG jumbo that is less than a year old. He's in at 6.625...and will save about 350 per month.
My take is that he should wait (its a gamble)...BUT.. EVERYONE ...democrats, republicans and the WORLD wants to stimulate this economy and noone more than the FED. Lower rates will help many in trouble, will help stimulate, and may get RE moving again in some distressed areas. This IS an election year and we can look forward to anti-recessionary, electioneering breaks!!! Tax rebates and lower rates being some of them.
Hey, if I can get 5 or below fixed, no points I'll go back again too.
bear
On Rates...My son just called me for my take on a 0 point 6% offer to refi a BIG jumbo that is less than a year old. He's in at 6.625...and will save about 350 per month.
My take is that he should wait (its a gamble)...BUT.. EVERYONE ...democrats, republicans and the WORLD wants to stimulate this economy and noone more than the FED. Lower rates will help many in trouble, will help stimulate, and may get RE moving again in some distressed areas. This IS an election year and we can look forward to anti-recessionary, electioneering breaks!!! Tax rebates and lower rates being some of them.
Hey, if I can get 5 or below fixed, no points I'll go back again too.
bear
thanks Franky. What's the 75% mean we are putting down 20%.I didn't realize the supply and demand so I might move it up to friday. Pigs get slaughted
Franky, thanks for the help. Just locked in @ 5% w/an origination fee of 1%. Very Happy. Take care
the expert guest on mortgages on GMA last segment mentioned there was a portion of the Economic Stimulus Plan that geared towards home refinance. Anybody know any details on this?
