5.00% no point loans at the moment…

[HLS]

[quote=profhoff]Why are condos so hard to finance?[/quote]

Risk & Reward is what FNMA etc look at based on their past experience. Higher credit scores/ larger down payments have led to fewer defaults.
(why they still allow low down payments proves this is all a scam)

Condos have proved to be riskier than homes, and conversions even worse. Some condos cannot be financed at all, even with 50% down. Some associations are insolvent or have too many rentals.

Condos with less than 25% equity now cost more to get a loan, and I have been told that higher loan pricing is coming very shortly… HLS

[waitingtobuy]

Hi HLS

what’s the rate today ( & closing costs)for 30-yr fixed, no point?
I currently have a 5-1 ARM @ 5% and I am looking to re-finance to a 30-yr fixed.

[waitingtobuy]

Hi HLS

what’s the rate today ( & closing costs)for 30-yr fixed, no point?
I currently have a 5-1 ARM @ 5% and I am looking to re-finance to a 30-yr fixed.

[waitingtobuy]

Hi HLS

what’s the rate today ( & closing costs)for 30-yr fixed, no point?
I currently have a 5-1 ARM @ 5% and I am looking to re-finance to a 30-yr fixed.

[waitingtobuy]

Hi HLS

what’s the rate today ( & closing costs)for 30-yr fixed, no point?
I currently have a 5-1 ARM @ 5% and I am looking to re-finance to a 30-yr fixed.

[waitingtobuy]

Hi HLS

what’s the rate today ( & closing costs)for 30-yr fixed, no point?
I currently have a 5-1 ARM @ 5% and I am looking to re-finance to a 30-yr fixed.

[HLS]

WTB… It’s not a simple answer.

Assuming that your income qualifies for a full doc loan, at the minimum I need to know your mid credit score, current house value and loan amount.
I also need to know if it’s a house or condo/townhouse and if you are only refinancing a 1st, or if you have a 2nd or HELOC.

If it’s just a first, do you want more than $2000 out, or just refi existing balance & costs.

If it’s a condo, the property may not qualify for a loan at all.

I also need to know that you know the difference between a no point loan and a no cost loan, which apparently you do.

Title & escrow closing costs depend on loan amount.

Anyone who answers your question without the info I have requested cannot be trusted! . HLS

[HLS]

WTB… It’s not a simple answer.

Assuming that your income qualifies for a full doc loan, at the minimum I need to know your mid credit score, current house value and loan amount.
I also need to know if it’s a house or condo/townhouse and if you are only refinancing a 1st, or if you have a 2nd or HELOC.

If it’s just a first, do you want more than $2000 out, or just refi existing balance & costs.

If it’s a condo, the property may not qualify for a loan at all.

I also need to know that you know the difference between a no point loan and a no cost loan, which apparently you do.

Title & escrow closing costs depend on loan amount.

Anyone who answers your question without the info I have requested cannot be trusted! . HLS

[HLS]

WTB… It’s not a simple answer.

Assuming that your income qualifies for a full doc loan, at the minimum I need to know your mid credit score, current house value and loan amount.
I also need to know if it’s a house or condo/townhouse and if you are only refinancing a 1st, or if you have a 2nd or HELOC.

If it’s just a first, do you want more than $2000 out, or just refi existing balance & costs.

If it’s a condo, the property may not qualify for a loan at all.

I also need to know that you know the difference between a no point loan and a no cost loan, which apparently you do.

Title & escrow closing costs depend on loan amount.

Anyone who answers your question without the info I have requested cannot be trusted! . HLS

[HLS]

WTB… It’s not a simple answer.

Assuming that your income qualifies for a full doc loan, at the minimum I need to know your mid credit score, current house value and loan amount.
I also need to know if it’s a house or condo/townhouse and if you are only refinancing a 1st, or if you have a 2nd or HELOC.

If it’s just a first, do you want more than $2000 out, or just refi existing balance & costs.

If it’s a condo, the property may not qualify for a loan at all.

I also need to know that you know the difference between a no point loan and a no cost loan, which apparently you do.

Title & escrow closing costs depend on loan amount.

Anyone who answers your question without the info I have requested cannot be trusted! . HLS

[HLS]

WTB… It’s not a simple answer.

Assuming that your income qualifies for a full doc loan, at the minimum I need to know your mid credit score, current house value and loan amount.
I also need to know if it’s a house or condo/townhouse and if you are only refinancing a 1st, or if you have a 2nd or HELOC.

If it’s just a first, do you want more than $2000 out, or just refi existing balance & costs.

If it’s a condo, the property may not qualify for a loan at all.

I also need to know that you know the difference between a no point loan and a no cost loan, which apparently you do.

Title & escrow closing costs depend on loan amount.

Anyone who answers your question without the info I have requested cannot be trusted! . HLS

[Author]

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