Need to lock…what are rates doing out there experts?

[waiting hawk]

Perfect post HLS. My first house I bought was 50% down, 8% DTI back end, 775 fico, and I still needed an extention to not pay the per diem through BofA. Yes they dont care and what really held me up was cash. DO NOT dump cash into your account up to 2 months. That almost killed my primary deal right there. Even though it was only 15k that is a ton to them. Line yourself up for a smooth transaction ahead of time. One broker said it best, “when your file falls off the tracks at a retail office it is hard to get it cruising on the track again”. But their rates and fees were low. You just have to prepare ahead of time.

[sdrealtor]

I think this is a perfect example that is equally applicable to a RE agent. It could be an easy transaction and not make a difference. Then again it could be a mess and require the skills of an experienced agent/mortgage guy. You just dont know which way its going to go until you are knee deep in it. Some people get lucky and it goes smoothly. That is not necessarily the norm but to them it is because that was their experience thus far. As professionals we see so many more transactions that we know what can happen. Go it alone or get help, the decision is yours.

[sdrealtor]

I think this is a perfect example that is equally applicable to a RE agent. It could be an easy transaction and not make a difference. Then again it could be a mess and require the skills of an experienced agent/mortgage guy. You just dont know which way its going to go until you are knee deep in it. Some people get lucky and it goes smoothly. That is not necessarily the norm but to them it is because that was their experience thus far. As professionals we see so many more transactions that we know what can happen. Go it alone or get help, the decision is yours.

[sdrealtor]

I think this is a perfect example that is equally applicable to a RE agent. It could be an easy transaction and not make a difference. Then again it could be a mess and require the skills of an experienced agent/mortgage guy. You just dont know which way its going to go until you are knee deep in it. Some people get lucky and it goes smoothly. That is not necessarily the norm but to them it is because that was their experience thus far. As professionals we see so many more transactions that we know what can happen. Go it alone or get help, the decision is yours.

[sdrealtor]

I think this is a perfect example that is equally applicable to a RE agent. It could be an easy transaction and not make a difference. Then again it could be a mess and require the skills of an experienced agent/mortgage guy. You just dont know which way its going to go until you are knee deep in it. Some people get lucky and it goes smoothly. That is not necessarily the norm but to them it is because that was their experience thus far. As professionals we see so many more transactions that we know what can happen. Go it alone or get help, the decision is yours.

[sdrealtor]

I think this is a perfect example that is equally applicable to a RE agent. It could be an easy transaction and not make a difference. Then again it could be a mess and require the skills of an experienced agent/mortgage guy. You just dont know which way its going to go until you are knee deep in it. Some people get lucky and it goes smoothly. That is not necessarily the norm but to them it is because that was their experience thus far. As professionals we see so many more transactions that we know what can happen. Go it alone or get help, the decision is yours.

[danielwis]

[quote=HLS]Daniel, you’ve got all of 10 days on this site and are now the resident expert on mortgages. I’m real impressed with your resume.

I don’t know what is sadder:
The fact that you think that you know what you are talking about
OR
That someone may actually listen to you.

I never said that a broker will always beat other options but you don’t even understand that in most cases banks are mortgage brokers and perform the same function, often with employees that are clueless to explain other options that may be better.

When the “know it all” rate shoppers show up just thinking that they are getting the lowest rate possible, that’s when the real fun begins, and loans often can’t close.

I spoke to someone today that is having a HUGE problem with AIM, and he can’t get his phone calls returned. He regrets his decision now. He may lose his lock and the home.

My hot air can actually get someone a loan, your experience was fine for you, but pointless otherwise. It’s never been more difficult to get a loan through any lender, and the lowest/cheapest means nothing if the loan can’t close.[/quote]

You’re the one with the hot air, showing up like you know it all. Just read the comments, and you’ll see I’m not the only one that notice that.

LMAO, posting on Pigginton’s site makes one an expert now? Now I’ve heard it all. I don’t care if I’ve posted for 10 days, or 10 years. I am not an expert. But I’ve been around the block a time or two: actually four, having purchased 4 investment properties. That means I might have something to contribute. Just because you don’t like my contribution, doesn’t make you any more right. In fact in my last posting, I noted that one approach does not fit all.

Unfortunately by your arrogant posts, you do think you are an expert. A lot of “experts” who knew it all like you, were left hanging with the pants down since 2006. Just because you are in the field, doesn’t mean you know it all. What ever floats your boat dude. If you want to get angry and arrogant, go for it.

[danielwis]

[quote=HLS]Daniel, you’ve got all of 10 days on this site and are now the resident expert on mortgages. I’m real impressed with your resume.

I don’t know what is sadder:
The fact that you think that you know what you are talking about
OR
That someone may actually listen to you.

I never said that a broker will always beat other options but you don’t even understand that in most cases banks are mortgage brokers and perform the same function, often with employees that are clueless to explain other options that may be better.

When the “know it all” rate shoppers show up just thinking that they are getting the lowest rate possible, that’s when the real fun begins, and loans often can’t close.

I spoke to someone today that is having a HUGE problem with AIM, and he can’t get his phone calls returned. He regrets his decision now. He may lose his lock and the home.

My hot air can actually get someone a loan, your experience was fine for you, but pointless otherwise. It’s never been more difficult to get a loan through any lender, and the lowest/cheapest means nothing if the loan can’t close.[/quote]

You’re the one with the hot air, showing up like you know it all. Just read the comments, and you’ll see I’m not the only one that notice that.

LMAO, posting on Pigginton’s site makes one an expert now? Now I’ve heard it all. I don’t care if I’ve posted for 10 days, or 10 years. I am not an expert. But I’ve been around the block a time or two: actually four, having purchased 4 investment properties. That means I might have something to contribute. Just because you don’t like my contribution, doesn’t make you any more right. In fact in my last posting, I noted that one approach does not fit all.

Unfortunately by your arrogant posts, you do think you are an expert. A lot of “experts” who knew it all like you, were left hanging with the pants down since 2006. Just because you are in the field, doesn’t mean you know it all. What ever floats your boat dude. If you want to get angry and arrogant, go for it.

[danielwis]

[quote=HLS]Daniel, you’ve got all of 10 days on this site and are now the resident expert on mortgages. I’m real impressed with your resume.

I don’t know what is sadder:
The fact that you think that you know what you are talking about
OR
That someone may actually listen to you.

I never said that a broker will always beat other options but you don’t even understand that in most cases banks are mortgage brokers and perform the same function, often with employees that are clueless to explain other options that may be better.

When the “know it all” rate shoppers show up just thinking that they are getting the lowest rate possible, that’s when the real fun begins, and loans often can’t close.

I spoke to someone today that is having a HUGE problem with AIM, and he can’t get his phone calls returned. He regrets his decision now. He may lose his lock and the home.

My hot air can actually get someone a loan, your experience was fine for you, but pointless otherwise. It’s never been more difficult to get a loan through any lender, and the lowest/cheapest means nothing if the loan can’t close.[/quote]

You’re the one with the hot air, showing up like you know it all. Just read the comments, and you’ll see I’m not the only one that notice that.

LMAO, posting on Pigginton’s site makes one an expert now? Now I’ve heard it all. I don’t care if I’ve posted for 10 days, or 10 years. I am not an expert. But I’ve been around the block a time or two: actually four, having purchased 4 investment properties. That means I might have something to contribute. Just because you don’t like my contribution, doesn’t make you any more right. In fact in my last posting, I noted that one approach does not fit all.

Unfortunately by your arrogant posts, you do think you are an expert. A lot of “experts” who knew it all like you, were left hanging with the pants down since 2006. Just because you are in the field, doesn’t mean you know it all. What ever floats your boat dude. If you want to get angry and arrogant, go for it.

[danielwis]

[quote=HLS]Daniel, you’ve got all of 10 days on this site and are now the resident expert on mortgages. I’m real impressed with your resume.

I don’t know what is sadder:
The fact that you think that you know what you are talking about
OR
That someone may actually listen to you.

I never said that a broker will always beat other options but you don’t even understand that in most cases banks are mortgage brokers and perform the same function, often with employees that are clueless to explain other options that may be better.

When the “know it all” rate shoppers show up just thinking that they are getting the lowest rate possible, that’s when the real fun begins, and loans often can’t close.

I spoke to someone today that is having a HUGE problem with AIM, and he can’t get his phone calls returned. He regrets his decision now. He may lose his lock and the home.

My hot air can actually get someone a loan, your experience was fine for you, but pointless otherwise. It’s never been more difficult to get a loan through any lender, and the lowest/cheapest means nothing if the loan can’t close.[/quote]

You’re the one with the hot air, showing up like you know it all. Just read the comments, and you’ll see I’m not the only one that notice that.

LMAO, posting on Pigginton’s site makes one an expert now? Now I’ve heard it all. I don’t care if I’ve posted for 10 days, or 10 years. I am not an expert. But I’ve been around the block a time or two: actually four, having purchased 4 investment properties. That means I might have something to contribute. Just because you don’t like my contribution, doesn’t make you any more right. In fact in my last posting, I noted that one approach does not fit all.

Unfortunately by your arrogant posts, you do think you are an expert. A lot of “experts” who knew it all like you, were left hanging with the pants down since 2006. Just because you are in the field, doesn’t mean you know it all. What ever floats your boat dude. If you want to get angry and arrogant, go for it.

[danielwis]

[quote=HLS]Daniel, you’ve got all of 10 days on this site and are now the resident expert on mortgages. I’m real impressed with your resume.

I don’t know what is sadder:
The fact that you think that you know what you are talking about
OR
That someone may actually listen to you.

I never said that a broker will always beat other options but you don’t even understand that in most cases banks are mortgage brokers and perform the same function, often with employees that are clueless to explain other options that may be better.

When the “know it all” rate shoppers show up just thinking that they are getting the lowest rate possible, that’s when the real fun begins, and loans often can’t close.

I spoke to someone today that is having a HUGE problem with AIM, and he can’t get his phone calls returned. He regrets his decision now. He may lose his lock and the home.

My hot air can actually get someone a loan, your experience was fine for you, but pointless otherwise. It’s never been more difficult to get a loan through any lender, and the lowest/cheapest means nothing if the loan can’t close.[/quote]

You’re the one with the hot air, showing up like you know it all. Just read the comments, and you’ll see I’m not the only one that notice that.

LMAO, posting on Pigginton’s site makes one an expert now? Now I’ve heard it all. I don’t care if I’ve posted for 10 days, or 10 years. I am not an expert. But I’ve been around the block a time or two: actually four, having purchased 4 investment properties. That means I might have something to contribute. Just because you don’t like my contribution, doesn’t make you any more right. In fact in my last posting, I noted that one approach does not fit all.

Unfortunately by your arrogant posts, you do think you are an expert. A lot of “experts” who knew it all like you, were left hanging with the pants down since 2006. Just because you are in the field, doesn’t mean you know it all. What ever floats your boat dude. If you want to get angry and arrogant, go for it.

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