Funny how I knew that the rate you “just got” was 3 days ago on Wednesday isn’t it ?
I’m happy for you that you caught the day that mortgage rates happened to have spiked down.
As far as getting a half point discount and it being your fourth loan tells me something too. The special was that you paid a point instead of a point and a half.
I can do $260K loans for $5000 or less in closing costs all day long, so I’m glad that you got a discount to get to $6500. On Wednesday, I could have done a $260K loan for $2500.
I don’t know how long you have had your existing loan, but of course you are lowering your payments, you are starting the 30 year clock ticking again.
If loan #3 was a crappy loan, it wasn’t hard to make #4 look attractive.
In your situation having an 800 credit score is no better than a 700 score and having 70% equity is no better than having 40% equity.
Your original comment on Saturday that you “just got” a 4.50% loan was misleading, and you didn’t mention that you got a discount as a 4th timer.
(When someone tells me that they “just” had lunch, I don’t take it to mean 3 days ago)
It’s the misinformation that people throw around that annoys me, you don’t have to forgive me.
I don’t doubt that you got 4.50% on WEDNESDAY, because rates were there for a very short time.
Thanks for the update on how to qualify for a great loan. ..HLS
