Mortgage Rates

[HLS]

RG, thanks for more misleading information.
Was “just approved” 5 minutes ago OR was it “just” Wednesday.

I don’t think that anybody has that rate available today.

Of course they are out there, but rates don’t sit around waiting for people to act.

It depends on what you qualify for, based on credit score, equity and income.

There are fees and costs associated with getting the lowest rates.

RG, I don’t know what you mean by “just” but my guess is that you will have other fees/costs that you haven’t seen yet or are you also a bank employee ??

[Anonymous]

HLS,the approval was Wednesday 12/17. I get docs via FedEx on Monday and expect to close escrow 12/30. I have a 800+ plus credit score, tons of equity (just over 70%) in my home. Income to support and this is my fourth mortgage through the broker so I got a half point discount after sharing some comp offers. My good faith escrow costs are $6,505 on a $260K loan. If you have good credit, equity, and source of income and savings you can get a great loan offer. I’m taking out $15K in cash and lowering my payments over $200 per month. My break even on the costs is covered in less than 2 and a half years.

One more thing to add. I had told my broker that if they went UNDER 5% to contact me. I was in no rush to do anything unless it was a sweet deal for me.

[Anonymous]

HLS,the approval was Wednesday 12/17. I get docs via FedEx on Monday and expect to close escrow 12/30. I have a 800+ plus credit score, tons of equity (just over 70%) in my home. Income to support and this is my fourth mortgage through the broker so I got a half point discount after sharing some comp offers. My good faith escrow costs are $6,505 on a $260K loan. If you have good credit, equity, and source of income and savings you can get a great loan offer. I’m taking out $15K in cash and lowering my payments over $200 per month. My break even on the costs is covered in less than 2 and a half years.

One more thing to add. I had told my broker that if they went UNDER 5% to contact me. I was in no rush to do anything unless it was a sweet deal for me.

[Anonymous]

HLS,the approval was Wednesday 12/17. I get docs via FedEx on Monday and expect to close escrow 12/30. I have a 800+ plus credit score, tons of equity (just over 70%) in my home. Income to support and this is my fourth mortgage through the broker so I got a half point discount after sharing some comp offers. My good faith escrow costs are $6,505 on a $260K loan. If you have good credit, equity, and source of income and savings you can get a great loan offer. I’m taking out $15K in cash and lowering my payments over $200 per month. My break even on the costs is covered in less than 2 and a half years.

One more thing to add. I had told my broker that if they went UNDER 5% to contact me. I was in no rush to do anything unless it was a sweet deal for me.

[Anonymous]

HLS,the approval was Wednesday 12/17. I get docs via FedEx on Monday and expect to close escrow 12/30. I have a 800+ plus credit score, tons of equity (just over 70%) in my home. Income to support and this is my fourth mortgage through the broker so I got a half point discount after sharing some comp offers. My good faith escrow costs are $6,505 on a $260K loan. If you have good credit, equity, and source of income and savings you can get a great loan offer. I’m taking out $15K in cash and lowering my payments over $200 per month. My break even on the costs is covered in less than 2 and a half years.

One more thing to add. I had told my broker that if they went UNDER 5% to contact me. I was in no rush to do anything unless it was a sweet deal for me.

[Anonymous]

HLS,the approval was Wednesday 12/17. I get docs via FedEx on Monday and expect to close escrow 12/30. I have a 800+ plus credit score, tons of equity (just over 70%) in my home. Income to support and this is my fourth mortgage through the broker so I got a half point discount after sharing some comp offers. My good faith escrow costs are $6,505 on a $260K loan. If you have good credit, equity, and source of income and savings you can get a great loan offer. I’m taking out $15K in cash and lowering my payments over $200 per month. My break even on the costs is covered in less than 2 and a half years.

One more thing to add. I had told my broker that if they went UNDER 5% to contact me. I was in no rush to do anything unless it was a sweet deal for me.

[HLS]

Radio,,
Congratulations.

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

[HLS]

Radio,,
Congratulations.

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

[HLS]

Radio,,
Congratulations.

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

[HLS]

Radio,,
Congratulations.

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

[HLS]

Radio,,
Congratulations.

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

[Raybyrnes]

Any sales person can come in after the fact and say they would have done it for less. I’m not saying this is the case but it sort of is.

The client asked the broker to call if rates fell below 5. The broker has a relationship with the client and he called.

HLS
You say you would have been way less on the loans with respect to fees. But the question here is whether it was a fair loan or not. Have you seen worse loans and on a scale of 1 to 5, 1 being the best deal 5 being the worst where would you say this loan ranks.

[Raybyrnes]

Any sales person can come in after the fact and say they would have done it for less. I’m not saying this is the case but it sort of is.

The client asked the broker to call if rates fell below 5. The broker has a relationship with the client and he called.

HLS
You say you would have been way less on the loans with respect to fees. But the question here is whether it was a fair loan or not. Have you seen worse loans and on a scale of 1 to 5, 1 being the best deal 5 being the worst where would you say this loan ranks.

[Raybyrnes]

Any sales person can come in after the fact and say they would have done it for less. I’m not saying this is the case but it sort of is.

The client asked the broker to call if rates fell below 5. The broker has a relationship with the client and he called.

HLS
You say you would have been way less on the loans with respect to fees. But the question here is whether it was a fair loan or not. Have you seen worse loans and on a scale of 1 to 5, 1 being the best deal 5 being the worst where would you say this loan ranks.

[Raybyrnes]

Any sales person can come in after the fact and say they would have done it for less. I’m not saying this is the case but it sort of is.

The client asked the broker to call if rates fell below 5. The broker has a relationship with the client and he called.

HLS
You say you would have been way less on the loans with respect to fees. But the question here is whether it was a fair loan or not. Have you seen worse loans and on a scale of 1 to 5, 1 being the best deal 5 being the worst where would you say this loan ranks.

[Author]

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