Mortgage/Refi Rates Low As Hell.

[Breecher_7]

Rates in the high 4% range can be had right now with the right broker/lender with solid income and credit. If anyone is interested, Please contact me.

[Holeshot]

I know its killing me that I have to wait till April to refinance. God I hope the rates stay this low. Even if it went to 5 I'd be happy.

[michelle]

Contact you? What do you do or who do you work for?

Does having low credit look any better then bad credit? It's simply low from not having a credit card or making any payments on anything before. Are there any "new college graduate" or "first time homeowner" incentives or breaks in terms of the credit thing?

[Breecher_7]

I know its killing me that I have to wait till April to refinance. God I hope the rates stay this low. Even if it went to 5 I'd be happy.

Rates in the 5's are readily available right now. For your sake, I hope they hold out.

Michelle, PM Sent....

[PB86MCSS]

We bought at 7% (barely anything down) and can re-fi for 5.5% now through the same bank, but the trick is I need to get hired first . I think they'll be staying about this low for a little while yet, hoping we can get as low as 5 flat when the time comes.

[Breecher_7]

We bought at 7% (barely anything down) and can re-fi for 5.5% now through the same bank, but the trick is I need to get hired first . I think they'll be staying about this low for a little while yet, hoping we can get as low as 5 flat when the time comes.

Is the 5.5% based on your credit or is that just the rock bottom for that bank? If your credit is solid I can get you 5 flat or into the 4's most likely.

[jbiscuit]

pay a point!

[wrath]

Where do you work? My boss is looking to refinance to a 15 year and I think he's looking at Guardian (which is where I sent him because they're the cheapest I found) but if you're cheaper/quicker he'd probably go with you.

[PonyKiller87]

I'm predicting rates to continue to fall until spring time, bottoming out around 4.25 ish. Buy a point and you could have an awesome rate for a home mortgage.

[PureSound15]

Rates are all over the board right now - be careful when you're shopping rates though, as it changes throughout the day. You might call and get a 4% quote and show up an hour later to a 5% rate.

Michelle - you're basically a no-score which is usually treated as a C score depending on the institution. Different types of credit will help your greatly. Make sure you don't have a balance of more than 50% of your available credit on any cards that you have as that will hurt you as well.

[tbarsch]

Contact you? What do you do or who do you work for?

x2...

[Breecher_7]

PM's sent to interested Parties.

Ryan you hit the nail on the head!

[Breecher_7]

I'm predicting rates to continue to fall until spring time, bottoming out around 4.25 ish. Buy a point and you could have an awesome rate for a home mortgage.

Very possible... But you never know, rates in the 4's are outstanding though, Especially when alot of people are in the 6% bracket right now. Save alot of money.

[PB86MCSS]

Is the 5.5% based on your credit or is that just the rock bottom for that bank? If your credit is solid I can get you 5 flat or into the 4's most likely.

My credit rating was in the 740's when we purchased, I can't imagine its changed too much since. Friends credit is also about the same as mine when purchasing the duplex...so to answer that I'm not sure if its the bottom for the bank but we plan to shop around when we're ready and able, hopefully soon. I'll give you a PM when the time comes.

[Breecher_7]

My credit rating was in the 740's when we purchased, I can't imagine its changed too much since. Friends credit is also about the same as mine when purchasing the duplex...so to answer that I'm not sure if its the bottom for the bank but we plan to shop around when we're ready and able, hopefully soon. I'll give you a PM when the time comes.

Please do.

[WhatsADSM]

Breecher you a broker or something?

I've been really thinking about a refi and I just bought my house a year ago at 5.75%! I think if the rates (with no points) go into the high 4s, maybe 4 and 3 quarters or 4 and 7 eighths I'll pull the trigger.

[PonyKiller87]

Just remember you may run into issues refinancing now if you bought in the last year or two. Chances are your appriasal will be lower and you will have less equity causing you to need PMI, or making it so you can't refi without putting money down.

[PureSound15]

Just remember you may run into issues refinancing now if you bought in the last year or two. Chances are your appriasal will be lower and you will have less equity causing you to need PMI, or making it so you can't refi without putting money down.

Very good information as well. We had a few complaints last week because our brokers were trying to explain to members how it wasn't beneficial to refinance for half a point (or they had no down payment, and would be paying $300 for an appraisal that would put the kabosh on any efforts as the LTV would be too high). There are so many different things that will have an affect on the savings surrounding a refinance.


Also - check with your financial to find out if they're keeping it in-house or selling it. You may enjoy the service of your financial but deal with a completely different entity later when they sell it.

Here's an easy way to save some money and time - Bi-weekly payments (exceptionally easy to if your loan is kept in-house at your bank/credit union)

[PonyKiller87]

Personaly I like to deal with wells fargo. So far they been pretty straight with me. They don't sell off their loans so I don't have to keep re setting up my auto payments... People at the bank are really nice and they check with me from time to time to see if I need anything or if I'm interested in something they have going on.

I agree on the Bi-weekly thing, if you look at the numbers in excel it save you a ton of money because your being charged interest on less money in the long run.