San Diego Housing Market News and Analysis

Last Friday I received an email from Absolute mortgage for 2.99% something like 3.11 APR. It was a Friday only offer. I did not do any follow-up.

I got the same one.. I think they kinda have a fluff thing going on there.

3.375 with a few thousand dollar rebate. im trying to finish a ref at that rate now.

Really? Wow...

30%plus equity

Beware absolutemortgageco.com
I locked my rate with them, paid for appraisal, then they ignored my calls and emails while my lock expired then relocked (without asking or telling me that my lender credit was $3k less even tho market rates were slightly lower than before).

Bunch of bait and switch shysters.
Beware!

tb

Similar scenarios are repeated over and over again in their reviews. Stay far away.

I use them to price match.

AN, who are you able convince to price match them?
Gimme a name/telno!

thanks,
tb

Michael Chen
TFM Financial Services, Inc
Cell: (619) 630-8099
Fax: (858) 437-9889
mchen [dot] tfm [at] gmail [dot] com
8799 Balboa Ave, Suite 155
San Diego, CA 92123

Michael's price is actually better than absolute's, so I didn't need to price match this time.

Sheldon in the past was able to price match absolute.

Bankrate.com is often helpful.

http://www.bankrate.com/funnel/graph/def...

Try provident funding for good rates on prime loans.

yup. for some reason i trust them. i think they are trying.

For no-frills loans (conforming, W2 income, less than 80% LTV, good credit, etc), I suggest www.provident.com. They may or may not have the best rates (I've found a little better elsewhere sometimes), but you can see their actual rates online in 5 seconds, updated throughout the day. They display multiple rate-point scenarios to choose from (the "rate sheet"). Really helpful. For example, right now (12/6, 9am) they show 3.25% with a half point rebate for a plain vanilla $417K loan. I refinanced twice with them, had no problems.

PS: the rate I just quoted may sound a bit too good to be true, and it indeed is if one forgets a few things. There are, of course, various title, escrow, appraisal and other fees with a mortgage loan - I'd say about 0.5% of the size of the loan, give or take. So one needs about half a point rebate for a true no-cost loan.