Can a broker post today’s rates for common Pigg, i.e., 400K loan with 20% down, 750FICO+.
Is there a good site to track average low rate?
*********************
Tuesday’s best wholesale rate that I had for a strong borrower was 5.50%
$417K loan max
20% equity
720 or higher mid credit score
Full Doc
30 YR fixed (15 YR @ 5.25%)
Impound account for taxes
Owner occupied
Purchase OR REFI without any cash out.
1 point origination fee
(OR 5.75% without origination fee)
30 day lock
+ 3rd party fees
—————————–
Jumbo loans OVER $417K
20% equity
740 or above mid credit score
As above 5.75%
(or 6.125% without origination fee)
With 25% equity
5.625% (OR 6.00%)
*********************
It’s all about qualifying.
Who cares about “average rates”
It’s all about qualifying !!
Some lenders wont lock jumbo loans until the loan is underwritten.
Most people don’t get the best rate that they actually qualify for.
Doesn’t matter if it’s a Bank, CU or through a broker.
Rates subject to change at anytime.
When you shop by rate, you are asking to be fooled, and don’t understand what you are doing.
