Mortgage Rates

[HLS]

EE..
If you are religious, PRAY ! 🙂

I am familiar with their programs and rates. I don’t know what their secondary market is for these jumbo loans or what their underwriting guidelines are.

It is very dangerous for any institution to lend long and borrow short with their own money.

Loaning out money for 30 years below 6% and paying depositors rates below that today is fine, but at some point if/when CD rates rise they will be paying more to get money than they lent it out for if they didn’t offset this risk. (Bad business)
They may use arbitrage offset with bonds or another risk strategy. They aren’t stupid.

Assuming that you qualify in all respects, have you asked them what their extended lock policy is ?

You may be able to get a 6 month lock for a fee.
This would allow you to lock this month or next if you like the current rates, if you are sure you will be ready for occupancy by June/July.

Locks are simply a market commitment at todays market price with a time premium attached. If it’s worth it to you, you may have the choice to pay for the option.

Locks cost money to a lender. Consumers dont understand this. They just want to lock and keep shopping, which isn’t fair. Just like trading stocks, you word should be your bond.

If you want to wait,then wait. If you like the rate, then lock.

I do have a policy with my major lenders if rates drop a certain amount to get a small adjustment.

I have a lender that will lock up to one year out, but only up to $417,000 loan amount. The cost is 1 point of loan amount to get todays rate a year from now. Loans from $417K-$546 are 70 days max right now.

Most people do not get their mortgages at the lowest rate. Very, very few have 30 YR fixed at 5% or below. Now many are paralyzed by greed. Now they want an even lower rate before refinancing.

Maybe it will happen, I don’t know. . HLS

[HLS]

Bob…
No offense taken, I’m not like that.

If I wasn’t competent in what I was saying or doing regarding loans, I wouldn’t put myself out there as to who and what I am about.

I have never lied to anyone about what rates are at the time they are asking and certainly never showed up with loan docs that had a different rate or program than they were promised.

If someone chooses to lock and rates go down, it isn’t fair to blame me.

I didn’t come to this site looking for business.
It just happens that I can be helpful if needed.
It’s been a kick here and I’ve met some great people.

I know what other mortgage people are up to. I hear from lender reps and escrow officers what is going on. I don’t like what I hear.

I cannot promise anyone that I have the lowest rtae/fees on the planet, (nobody can) that just isn’t reasonable, but I am very competitive and fair.
Those who want shop only by rate usually make poor choices.

Many people that got totally screwed shopped by rate. They got a neg am loan or an ARM, and have zero chance of refinancing today. They got their loan from a friend or neighbor.

I have never done a neg am loan and have talked people out of them. I have also talked people out of buying or refinancing because I don’t think it made sense for them. Perhaps they went elsewhere.

My website is different, and I am different.

I am usually available by phone 15 hours a day, 7 days a week, because I want to be and I enjoy doing this and I do keep people informed about their loan status.

I’d be happy to hear from someone who has a complaint about a loan they did with me. They got exactly what they were told and if there was an underwriting problem they knew about it immediately.

That’s just how I choose to do business. HLS

[HLS]

Bob…
No offense taken, I’m not like that.

If I wasn’t competent in what I was saying or doing regarding loans, I wouldn’t put myself out there as to who and what I am about.

I have never lied to anyone about what rates are at the time they are asking and certainly never showed up with loan docs that had a different rate or program than they were promised.

If someone chooses to lock and rates go down, it isn’t fair to blame me.

I didn’t come to this site looking for business.
It just happens that I can be helpful if needed.
It’s been a kick here and I’ve met some great people.

I know what other mortgage people are up to. I hear from lender reps and escrow officers what is going on. I don’t like what I hear.

I cannot promise anyone that I have the lowest rtae/fees on the planet, (nobody can) that just isn’t reasonable, but I am very competitive and fair.
Those who want shop only by rate usually make poor choices.

Many people that got totally screwed shopped by rate. They got a neg am loan or an ARM, and have zero chance of refinancing today. They got their loan from a friend or neighbor.

I have never done a neg am loan and have talked people out of them. I have also talked people out of buying or refinancing because I don’t think it made sense for them. Perhaps they went elsewhere.

My website is different, and I am different.

I am usually available by phone 15 hours a day, 7 days a week, because I want to be and I enjoy doing this and I do keep people informed about their loan status.

I’d be happy to hear from someone who has a complaint about a loan they did with me. They got exactly what they were told and if there was an underwriting problem they knew about it immediately.

That’s just how I choose to do business. HLS

[HLS]

Bob…
No offense taken, I’m not like that.

If I wasn’t competent in what I was saying or doing regarding loans, I wouldn’t put myself out there as to who and what I am about.

I have never lied to anyone about what rates are at the time they are asking and certainly never showed up with loan docs that had a different rate or program than they were promised.

If someone chooses to lock and rates go down, it isn’t fair to blame me.

I didn’t come to this site looking for business.
It just happens that I can be helpful if needed.
It’s been a kick here and I’ve met some great people.

I know what other mortgage people are up to. I hear from lender reps and escrow officers what is going on. I don’t like what I hear.

I cannot promise anyone that I have the lowest rtae/fees on the planet, (nobody can) that just isn’t reasonable, but I am very competitive and fair.
Those who want shop only by rate usually make poor choices.

Many people that got totally screwed shopped by rate. They got a neg am loan or an ARM, and have zero chance of refinancing today. They got their loan from a friend or neighbor.

I have never done a neg am loan and have talked people out of them. I have also talked people out of buying or refinancing because I don’t think it made sense for them. Perhaps they went elsewhere.

My website is different, and I am different.

I am usually available by phone 15 hours a day, 7 days a week, because I want to be and I enjoy doing this and I do keep people informed about their loan status.

I’d be happy to hear from someone who has a complaint about a loan they did with me. They got exactly what they were told and if there was an underwriting problem they knew about it immediately.

That’s just how I choose to do business. HLS

[HLS]

Bob…
No offense taken, I’m not like that.

If I wasn’t competent in what I was saying or doing regarding loans, I wouldn’t put myself out there as to who and what I am about.

I have never lied to anyone about what rates are at the time they are asking and certainly never showed up with loan docs that had a different rate or program than they were promised.

If someone chooses to lock and rates go down, it isn’t fair to blame me.

I didn’t come to this site looking for business.
It just happens that I can be helpful if needed.
It’s been a kick here and I’ve met some great people.

I know what other mortgage people are up to. I hear from lender reps and escrow officers what is going on. I don’t like what I hear.

I cannot promise anyone that I have the lowest rtae/fees on the planet, (nobody can) that just isn’t reasonable, but I am very competitive and fair.
Those who want shop only by rate usually make poor choices.

Many people that got totally screwed shopped by rate. They got a neg am loan or an ARM, and have zero chance of refinancing today. They got their loan from a friend or neighbor.

I have never done a neg am loan and have talked people out of them. I have also talked people out of buying or refinancing because I don’t think it made sense for them. Perhaps they went elsewhere.

My website is different, and I am different.

I am usually available by phone 15 hours a day, 7 days a week, because I want to be and I enjoy doing this and I do keep people informed about their loan status.

I’d be happy to hear from someone who has a complaint about a loan they did with me. They got exactly what they were told and if there was an underwriting problem they knew about it immediately.

That’s just how I choose to do business. HLS

[HLS]

Bob…
No offense taken, I’m not like that.

If I wasn’t competent in what I was saying or doing regarding loans, I wouldn’t put myself out there as to who and what I am about.

I have never lied to anyone about what rates are at the time they are asking and certainly never showed up with loan docs that had a different rate or program than they were promised.

If someone chooses to lock and rates go down, it isn’t fair to blame me.

I didn’t come to this site looking for business.
It just happens that I can be helpful if needed.
It’s been a kick here and I’ve met some great people.

I know what other mortgage people are up to. I hear from lender reps and escrow officers what is going on. I don’t like what I hear.

I cannot promise anyone that I have the lowest rtae/fees on the planet, (nobody can) that just isn’t reasonable, but I am very competitive and fair.
Those who want shop only by rate usually make poor choices.

Many people that got totally screwed shopped by rate. They got a neg am loan or an ARM, and have zero chance of refinancing today. They got their loan from a friend or neighbor.

I have never done a neg am loan and have talked people out of them. I have also talked people out of buying or refinancing because I don’t think it made sense for them. Perhaps they went elsewhere.

My website is different, and I am different.

I am usually available by phone 15 hours a day, 7 days a week, because I want to be and I enjoy doing this and I do keep people informed about their loan status.

I’d be happy to hear from someone who has a complaint about a loan they did with me. They got exactly what they were told and if there was an underwriting problem they knew about it immediately.

That’s just how I choose to do business. HLS

[eagleeye]

SD Realtor,

Aren’t you Jim? Like I said, it’s been a while since I’ve posted but if you are Jim, then we’ve already discussed the details of this project via email. Anyway, the construction price per square foot is about $300.

HLS,

Thanks for the comments. We are religious and we are praying. I really know very little about how mortgage rates are determined but I can’t imagine they will rise much in this economic environment. At least that’s what I keep telling myself. We prequaled on this loan amount last spring at 6.125% with NFCU. I worry that their underwriting may have tighted further since then. I also worry that my 30%+ equity could erode although the comps I noted are very recent.

[eagleeye]

SD Realtor,

Aren’t you Jim? Like I said, it’s been a while since I’ve posted but if you are Jim, then we’ve already discussed the details of this project via email. Anyway, the construction price per square foot is about $300.

HLS,

Thanks for the comments. We are religious and we are praying. I really know very little about how mortgage rates are determined but I can’t imagine they will rise much in this economic environment. At least that’s what I keep telling myself. We prequaled on this loan amount last spring at 6.125% with NFCU. I worry that their underwriting may have tighted further since then. I also worry that my 30%+ equity could erode although the comps I noted are very recent.

[eagleeye]

SD Realtor,

Aren’t you Jim? Like I said, it’s been a while since I’ve posted but if you are Jim, then we’ve already discussed the details of this project via email. Anyway, the construction price per square foot is about $300.

HLS,

Thanks for the comments. We are religious and we are praying. I really know very little about how mortgage rates are determined but I can’t imagine they will rise much in this economic environment. At least that’s what I keep telling myself. We prequaled on this loan amount last spring at 6.125% with NFCU. I worry that their underwriting may have tighted further since then. I also worry that my 30%+ equity could erode although the comps I noted are very recent.

[eagleeye]

SD Realtor,

Aren’t you Jim? Like I said, it’s been a while since I’ve posted but if you are Jim, then we’ve already discussed the details of this project via email. Anyway, the construction price per square foot is about $300.

HLS,

Thanks for the comments. We are religious and we are praying. I really know very little about how mortgage rates are determined but I can’t imagine they will rise much in this economic environment. At least that’s what I keep telling myself. We prequaled on this loan amount last spring at 6.125% with NFCU. I worry that their underwriting may have tighted further since then. I also worry that my 30%+ equity could erode although the comps I noted are very recent.

[eagleeye]

SD Realtor,

Aren’t you Jim? Like I said, it’s been a while since I’ve posted but if you are Jim, then we’ve already discussed the details of this project via email. Anyway, the construction price per square foot is about $300.

HLS,

Thanks for the comments. We are religious and we are praying. I really know very little about how mortgage rates are determined but I can’t imagine they will rise much in this economic environment. At least that’s what I keep telling myself. We prequaled on this loan amount last spring at 6.125% with NFCU. I worry that their underwriting may have tighted further since then. I also worry that my 30%+ equity could erode although the comps I noted are very recent.

[mike92104]

I’d just like to say that Sheldon returned my call within 5 minutes of me hitting the send button on the email to him. He answered every question I had honestly and did not beat around the bush. He has definitely earned my commitment to use him as my broker when the time comes!

[mike92104]

I’d just like to say that Sheldon returned my call within 5 minutes of me hitting the send button on the email to him. He answered every question I had honestly and did not beat around the bush. He has definitely earned my commitment to use him as my broker when the time comes!

[mike92104]

I’d just like to say that Sheldon returned my call within 5 minutes of me hitting the send button on the email to him. He answered every question I had honestly and did not beat around the bush. He has definitely earned my commitment to use him as my broker when the time comes!

[mike92104]

I’d just like to say that Sheldon returned my call within 5 minutes of me hitting the send button on the email to him. He answered every question I had honestly and did not beat around the bush. He has definitely earned my commitment to use him as my broker when the time comes!

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