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AuthorPosts
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HLS
ParticipantI don’t have any great programs at the moment for 30 yr fixed, at the moment, it is ugly.
Like 8.00% + anything over $546KAgain it depends on qualifying and the allowable debt ratios aren’t as high.
There are shorter term ARMS that are available for considerably less in rate.
I’m going to find some other options at better rates….
HLS
ParticipantCBW,
The previous example was for NON owner.
FNMA requires an additional 1.75% of loan amount for NON owner @ 75% at origination. (Not in rate)
(At 80% it is 3.00% !!!)Assuming that you will keep the loan for a couple of years, you are better off paying cash to pay this rather than take a higher rate for 30 years.
The higher the rate goes the less it makes sense to do a no cost loan
Several years ago, subprime buydowns were all the same, pay 1 pt, save .50. Break even in 2 years.
No more…Today, buydowns are completely willy nilly.
Buydowns aren’t usually that good for high credit, owner occupied, unless you have a low credit score. Then the buydowns are the exact same as non owner.
The lender that I may have with the best base rate has crappy buydowns…..
The lender with a crappy base rate has better buydowns…There is no set buydown cost. Each 1/8th that I look at has a different cost.
Actual buydown costs right now: For each eighth..
5.375 to 5.25 cost .46
5.25 to 5.125 cost .14
5.125 to 5.00 cost .09
5.00 to 4.875 cost .38
4.875 to 4.75 cost .60If you can figure it out, please explain it to me.
Another puzzle: One good lender raised rates from this morning and another lender dropped their rates.
Several lenders consistently have better rates. Anybody who goes to the others are typically paying .25% higher in rate for the life of the loan, they just don’t know it.
(Like when people use their friends for free loans that are actually costing them a small fortune)I’m really anal about rates so I can offer ppl the lowest that I have access to. I’m constantly checking them online, they really can change at anytime. I usually try to lock ppl while I have them on the phone if they like the rate.
ParticipantCBW,
The previous example was for NON owner.
FNMA requires an additional 1.75% of loan amount for NON owner @ 75% at origination. (Not in rate)
(At 80% it is 3.00% !!!)Assuming that you will keep the loan for a couple of years, you are better off paying cash to pay this rather than take a higher rate for 30 years.
The higher the rate goes the less it makes sense to do a no cost loan
Several years ago, subprime buydowns were all the same, pay 1 pt, save .50. Break even in 2 years.
No more…Today, buydowns are completely willy nilly.
Buydowns aren’t usually that good for high credit, owner occupied, unless you have a low credit score. Then the buydowns are the exact same as non owner.
The lender that I may have with the best base rate has crappy buydowns…..
The lender with a crappy base rate has better buydowns…There is no set buydown cost. Each 1/8th that I look at has a different cost.
Actual buydown costs right now: For each eighth..
5.375 to 5.25 cost .46
5.25 to 5.125 cost .14
5.125 to 5.00 cost .09
5.00 to 4.875 cost .38
4.875 to 4.75 cost .60If you can figure it out, please explain it to me.
Another puzzle: One good lender raised rates from this morning and another lender dropped their rates.
Several lenders consistently have better rates. Anybody who goes to the others are typically paying .25% higher in rate for the life of the loan, they just don’t know it.
(Like when people use their friends for free loans that are actually costing them a small fortune)I’m really anal about rates so I can offer ppl the lowest that I have access to. I’m constantly checking them online, they really can change at anytime. I usually try to lock ppl while I have them on the phone if they like the rate.
ParticipantCBW,
The previous example was for NON owner.
FNMA requires an additional 1.75% of loan amount for NON owner @ 75% at origination. (Not in rate)
(At 80% it is 3.00% !!!)Assuming that you will keep the loan for a couple of years, you are better off paying cash to pay this rather than take a higher rate for 30 years.
The higher the rate goes the less it makes sense to do a no cost loan
Several years ago, subprime buydowns were all the same, pay 1 pt, save .50. Break even in 2 years.
No more…Today, buydowns are completely willy nilly.
Buydowns aren’t usually that good for high credit, owner occupied, unless you have a low credit score. Then the buydowns are the exact same as non owner.
The lender that I may have with the best base rate has crappy buydowns…..
The lender with a crappy base rate has better buydowns…There is no set buydown cost. Each 1/8th that I look at has a different cost.
Actual buydown costs right now: For each eighth..
5.375 to 5.25 cost .46
5.25 to 5.125 cost .14
5.125 to 5.00 cost .09
5.00 to 4.875 cost .38
4.875 to 4.75 cost .60If you can figure it out, please explain it to me.
Another puzzle: One good lender raised rates from this morning and another lender dropped their rates.
Several lenders consistently have better rates. Anybody who goes to the others are typically paying .25% higher in rate for the life of the loan, they just don’t know it.
(Like when people use their friends for free loans that are actually costing them a small fortune)I’m really anal about rates so I can offer ppl the lowest that I have access to. I’m constantly checking them online, they really can change at anytime. I usually try to lock ppl while I have them on the phone if they like the rate.
ParticipantCBW,
The previous example was for NON owner.
FNMA requires an additional 1.75% of loan amount for NON owner @ 75% at origination. (Not in rate)
(At 80% it is 3.00% !!!)Assuming that you will keep the loan for a couple of years, you are better off paying cash to pay this rather than take a higher rate for 30 years.
The higher the rate goes the less it makes sense to do a no cost loan
Several years ago, subprime buydowns were all the same, pay 1 pt, save .50. Break even in 2 years.
No more…Today, buydowns are completely willy nilly.
Buydowns aren’t usually that good for high credit, owner occupied, unless you have a low credit score. Then the buydowns are the exact same as non owner.
The lender that I may have with the best base rate has crappy buydowns…..
The lender with a crappy base rate has better buydowns…There is no set buydown cost. Each 1/8th that I look at has a different cost.
Actual buydown costs right now: For each eighth..
5.375 to 5.25 cost .46
5.25 to 5.125 cost .14
5.125 to 5.00 cost .09
5.00 to 4.875 cost .38
4.875 to 4.75 cost .60If you can figure it out, please explain it to me.
Another puzzle: One good lender raised rates from this morning and another lender dropped their rates.
Several lenders consistently have better rates. Anybody who goes to the others are typically paying .25% higher in rate for the life of the loan, they just don’t know it.
(Like when people use their friends for free loans that are actually costing them a small fortune)I’m really anal about rates so I can offer ppl the lowest that I have access to. I’m constantly checking them online, they really can change at anytime. I usually try to lock ppl while I have them on the phone if they like the rate.
ParticipantCBW,
The previous example was for NON owner.
FNMA requires an additional 1.75% of loan amount for NON owner @ 75% at origination. (Not in rate)
(At 80% it is 3.00% !!!)Assuming that you will keep the loan for a couple of years, you are better off paying cash to pay this rather than take a higher rate for 30 years.
The higher the rate goes the less it makes sense to do a no cost loan
Several years ago, subprime buydowns were all the same, pay 1 pt, save .50. Break even in 2 years.
No more…Today, buydowns are completely willy nilly.
Buydowns aren’t usually that good for high credit, owner occupied, unless you have a low credit score. Then the buydowns are the exact same as non owner.
The lender that I may have with the best base rate has crappy buydowns…..
The lender with a crappy base rate has better buydowns…There is no set buydown cost. Each 1/8th that I look at has a different cost.
Actual buydown costs right now: For each eighth..
5.375 to 5.25 cost .46
5.25 to 5.125 cost .14
5.125 to 5.00 cost .09
5.00 to 4.875 cost .38
4.875 to 4.75 cost .60If you can figure it out, please explain it to me.
Another puzzle: One good lender raised rates from this morning and another lender dropped their rates.
Several lenders consistently have better rates. Anybody who goes to the others are typically paying .25% higher in rate for the life of the loan, they just don’t know it.
(Like when people use their friends for free loans that are actually costing them a small fortune)I’m really anal about rates so I can offer ppl the lowest that I have access to. I’m constantly checking them online, they really can change at anytime. I usually try to lock ppl while I have them on the phone if they like the rate.
ParticipantForeclosures are the solution, not the problem. HLS
ParticipantForeclosures are the solution, not the problem. HLS
ParticipantForeclosures are the solution, not the problem. HLS
ParticipantForeclosures are the solution, not the problem. HLS
ParticipantForeclosures are the solution, not the problem. HLS
ParticipantTREE..
Honest homeowners will only get screwed because they screw themeselves.
Don’t know what your friend is paying in fees/cost, but todays rate for his loan should probably be 5.00%
Foolish homeowners will get screwed too.
HLS
ParticipantTREE..
Honest homeowners will only get screwed because they screw themeselves.
Don’t know what your friend is paying in fees/cost, but todays rate for his loan should probably be 5.00%
Foolish homeowners will get screwed too.
HLS
ParticipantTREE..
Honest homeowners will only get screwed because they screw themeselves.
Don’t know what your friend is paying in fees/cost, but todays rate for his loan should probably be 5.00%
Foolish homeowners will get screwed too.
HLS
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