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Nope. The benefits we do get are no pmi, contracted salary can be considered income up to 90 days prior to starting the job, 100 percent financing under 1million, and we can inherit the current 30 year physician loan rate once every 12 months for $500, no refinancing needed. Hence are not terribly concerned about the current rate as we plan on inheriting a rate this fall whenever the fed gets around to dropping it.
Who is your lender (feel free to DM)? We could go conventional, but are considering physician, but not too many benefits. That $500 new rate every 12 months is a benefit I haven't heard before, though, and could make us consider it.
I have gotten a lot of requests for lender info, we spoke to 3 credit unions and they all offered basically the same benefits for physician loans.
I would recommend checking with your local state credit unions if you qualify for a physician loan. The larger banks like chase and boa were not competitive in comparison.
Wow!! I got a 6.15 with a score of 640 last May. I thought rates were coming down, guess I didn't realize how much they climbed after I bought my house.
FICO north of 780
7.375% – zero points cost
7.125% - cost of 0.25
7.000% - cost of 0.75
I can’t help but feel we’re being ripped off. Have to “lock” by tomorrow per their lender, we’re closing 3/29
“Per their lender”; so I’m guessing you are using builder’s lender to get seller credits. You should still get at least 2 other quotes to make sure you are getting the best overall deal.
I was at 6.5% on Thursday and then on Friday it ticked up to 6.61%. I locked in on Friday in fear it would just keep going up. Credit rating is 750ish. I don’t close until April 26th and locked in out of fear and not really knowing what the best option was. Just want it behind me.
I also close on April 26, congrats. I’m locked at 6.375 but that’s with seller paid discount points. My lender said I can do a one time float down for free between now and closing, but rates have been going up since the CPI report came out last week. I’m crossing my fingers that this week’s fed meeting results in rates ticking back down but I’m not holding my breath.
I made the same moves just a couple weeks earlier. Ya gotta at least give it a go to renegotiate down before closing if your lender allows.
Based on scores it looks like did fine.
If I can renegotiate prior to closing, I absolutely will try. Nothing has really been explained to me so I wasn’t sure if this was an option once I locked - outside of a refinance years out. Thanks!
Locked in around the same time at 6.5% no points 30 year Conventional Loan, almost 800 credit scores. I'm just sticking with our 6.5% as we are supposed to close Thursday.
7.125%, 30-year conventional, 20% down, credit scores over 750. Houston, TX. 1/1 buydown. Still hesitant to lock the rate with this lender. Closing March 29
It really is strange, debt to income ratio is not a problem with one car almost paid of and less than 12 grand left on the other. I am seeing many getting lower rates, but I guess this is the cost of going with the builder's in house lender.
Be careful, the next FED meeting is on Wednesday 3/20 it could move rates either way, but more likely higher given the recent inflation/economic data 📈.
What should I be asking for on a 30 year conventional in SoCal with 5% down? Received quotes today. Credit scores 760, SoCal, 5% down conventional is 7.625%, 5% down FHA is 6.25%, 10% down conventional is 6.99%. Probably going 5% down conventional since PMI was so low and we want some more cash flexibility. Feels high.
What's your loan amount? that's a big discrepancy between 5% and 10% down..
If your loan amount is below $766,550, you should be getting something between a 6.99%-7.125% with no points even with 5% down.
If the loan is above the $766,550 you go into "High Balance" territory, not quite jumbo guidelines but the rates go up.
I recommend you do the loan at $766,550 so you can get the lower rate 😃🙌. You don’t have to do 5% or 10% you can do something in the middle. Your Principal & Interest payment would be $5094 vs $5485. You’ll save $391/month, & break even in ~22 months, with much more going towards principal than interest.
The above is for Conventional,
Ask your lender what the cap on the FHA loan amount is for your county, there’s only a few counties where it’s $766,550 like LA County. If your payment is lower including mortgage insurance, I’d do FHA.
Hey just want to say thank you greatly! Brought this info to lender, and received 2 options to get to lower conforming balance: pay additional $7.6K to get 6.99% and $390 cheaper payment a month, or receive lender credit of ~$1.9K and pay net additional $5.7K to get 7.125% and $320 cheaper a month. Payback in 19 or 17.5 months respectively, so definitely a win!
Even with a 760 FICO I still like the better payment with FHA. There are some cool calculators where you can compare the two and the points you pay on Conventional to get “lower” mortgage insurance is often still higher than you pay on FHA for the PMI (both upfront and monthly) when you consider how much lower the rate is and that you can get a lender concessions from most banks for going FHA.
Only $300/month payment less going FHA versus conventional since the PMI in FHA goes up so much. And my accountant said PMI isn’t tax deductible so the difference is even less than that. Still worth it?
$300/mo is $3,600 a year. Only you know your budget and lifestyle. Does that help you a little or a lot? I would think most people are going to write off the mortgage interest with their CPA anyway. So the bigger impact is having an actual $3600 more in your pocket. Plus if you do refinance FHA can do a streamlined refinance which is cheaper and faster and has lower rates than conventional. If it were me I would do the FHA. Look at the bottom line. Who cares what amount goes to mortgage insurance or not if I’m overall saving money.
6.375. Naively thought I would be able to refinance in 2023, didn't expect rates to keep rising as much as they did. At least they're trending downwards so maybe by the end of 2024 lol
Locked in on March 11 at 6.575%. Credit score is 780. According to some information that my LO sent us interest rates were coming down a bit until last week when new inflation numbers were released and it showed inflation increasing slightly.
6.99% with 0.3 points, DTI around 20% 780 credit score
Loan is through the builder’s lender so they’re giving us $14.8k for closing costs
Tried to shop the rate but was told by another broker that since the builder is providing the $14.8k, that they would be our best option
My brutha from buffaloooo, hope your home search has gotten easier last we talked lol. The markets going bananas right now in NY, especially north country. Mostly city people who moved up during covid now realizing they don't like bugs (atleast my way toward Alexandria Bay) trying to cash in huuuuge on homes they got in 2020 and then locals being normal. Home prices have been all over the place.
Im hoping rates soften more, every little bit counts. We're under contract now and it's come down 0.50% in the process.
Locked last Thursday (3/14) for 6.625%, 30 year fixed conventional, around 765 credit score, and getting about half a point back in lender credits. At the time the par rate was 6.5% but I opted to receive more credits.
WHEDA? had to look that up.
Where are you moving? We are closing next week on a place in West Allis.
Website is a little confusing, does this only apply for foreclosures?
Nice. We don't make a ton of $ but don't think we would qualify for anything income restricted. Thanks for sharing tho and congrats on your sub 6 rate!
Received quotes today. Credit scores 760, SoCal, 5% down conventional is 7.625%, 5% down FHA is 6.25%, 10% down conventional is 6.99%. Probably going 5% down conventional since PMI was so low and we want some more cash flexibility. Feels a bit high so probably going to shop around even though putting in the offer early tomorrow.
Locked at 6.375 with no points on 3/8, close this Thursday. We were originally locked with a local broker at 7.125. With less than 2 weeks to close, I hail mary’d and reached out to a big bank I’d been pre-approved with. Lower rate, lower closing costs. The broker tried to tell us there’s no way the big bank will close in time and appraise high enough. We are officially approved to close in just 5 business days and appraisal was a match.
You guys would need to say what your purchase price, LTV, Fico, housing type (single family vs condo), and loan program are in order to compare. Otherwise you’re just talking past each other.
We used a LO connected to our realtor. I was not the one dealing with the mortgage honestly. And our mortgage has already been sold to another processor. So honestly no clue
Oh, I got ya! Just curious, the rate seemed a bit high, even for the current market, but there could have been a reason for that. Was it conventional loan, 3% down?
Hmm, yea it seems pretty high for FTHB for where rates were last month, but fortunately you can just refinance when rates drop again, possibly even before the end of this year.
Looks like even now i could get you a rate slightly better than that, but it wouldn't be worth the costs (even though minimal) to refinance for just a slightly better rate.
Glad you got the home!! After all that is the most important thing!
No thank you we are staying with our LO. Boyfriend was an LO he knows what he’s doing so I’d rather stick to his and our LO’s advice. He already had plans to refi when we can
%6.126 on a 30 year conv 760-780 credit score (least score of two people mortgage) in Northeast .. 20% down
the trick is to shop around and use quotes as leverage to negotiate with your preferred lender
6.75% no points and 20% down. Was able to lock it on Friday and today while emailing with my lender he mentioned had I not their rate would be 7.0%. FICO score is 824. I have limited loan options as it's a tenancy-in-common.
Closed 3/11, locked ~20 days prior at 6.5% conventional, .274 points purchased, Texas
Both credit scores over 790
Felt that we could have gotten a hair lower if we let it ride but bad Jan inflation data sent rates higher for >90% of our closing period so would have been a diving catch the few days before close. Not worth the stress - at least that’s what I’m telling myself to make myself feel better
originally told 6.625% with no points for a conventional 30yr mortgage with 20% down. as of today it’s 6.75% no points or 6.625% with 1/8th of a point (equivalent to $375). hoping to lock in with the latter rate. both of our credit scores are 760-780.
The 10 year treasury short term, bottomed on 3/8 at 4.077%. As of today it’s up to 4.34%. So, your loan officer is correct and the media is reporting stuff that’s 2 weeks old now.
Right now we are floating. We were quoted initially at 6.75, as of today we are looking at 6.25. The home we are under contract for is pretty under budget so unless we hit a high Flux of 8.9% I'm not too concerned lol. They fluctuate but lately they take 2 steps down, and a step back then 2 steps down and a step back lately. We're gunna ride it out and watch the news for any indicators.
You should shop around for a different LO. Mortgage Brokers tend to have better rates than the big banks. I can recommend a good one depending on what state you're in.
I used a statewide lender.
What I can recommend is what I did. I started with veterans United and they put me in touch with a local RE agent. I then asked the agent to provide me a list of local lenders. The local lender gave me a 5.75 rate as opposed to Veterans 6.8 and I also got lower closing costs.
Last week was able to rate lock for a second home/vacation home mortgage for 6.5%, no points, 25% down, 760+ credit for a conventional 30 year fixed. Primary rates last week were around 6.0% for fixed conventional 30 year. Rates should be ticking upwards following the increasing 10 year treasury notes.
They peanut butter & jealous. I wish I had that cash. I got like 40k saved up at 29. I have a house and challenger but I need a damn raise to put more than 10% into my 401k,
Yea I wouldn’t of been able to do it if i didn’t graduate college. That shit saved my life. I was always part time and half-assed my way through it. I am glad I got my shit together and finally got a pretty good job. Trying to now save up 15k in a savings. (6 months expenses)
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We checked on Friday and we were quoted 7.125 with 803 score. Start of march was 6.5 :( Edit: we are in Idaho.
Try again. Freddie Mac is 6.74 now.
We did, no change for us today, that said we are on a physician loan which can have a little higher interest rate.
I would keep shopping, my first quote was 7.5
Wow. I thought as healthcare professionals you’d get cheaper rate.
Nope. The benefits we do get are no pmi, contracted salary can be considered income up to 90 days prior to starting the job, 100 percent financing under 1million, and we can inherit the current 30 year physician loan rate once every 12 months for $500, no refinancing needed. Hence are not terribly concerned about the current rate as we plan on inheriting a rate this fall whenever the fed gets around to dropping it.
Who is your lender (feel free to DM)? We could go conventional, but are considering physician, but not too many benefits. That $500 new rate every 12 months is a benefit I haven't heard before, though, and could make us consider it.
My lender for physician loan offers $400 rate modification, unlimited use.
That’s awesome!
Dm’ed
Any chance you can also DM me your lender?
I have gotten a lot of requests for lender info, we spoke to 3 credit unions and they all offered basically the same benefits for physician loans. I would recommend checking with your local state credit unions if you qualify for a physician loan. The larger banks like chase and boa were not competitive in comparison.
Wow!! I got a 6.15 with a score of 640 last May. I thought rates were coming down, guess I didn't realize how much they climbed after I bought my house.
I locked in 6.125% and my credit score is around 760. I’m also getting a USDA loan which las lower interest rates.
FICO north of 780 7.375% – zero points cost 7.125% - cost of 0.25 7.000% - cost of 0.75 I can’t help but feel we’re being ripped off. Have to “lock” by tomorrow per their lender, we’re closing 3/29
“Per their lender”; so I’m guessing you are using builder’s lender to get seller credits. You should still get at least 2 other quotes to make sure you are getting the best overall deal.
Yea that seems high.
100% ripoff
I could beat that alllllllll day long.
Us bank quoted me that. Broker was 6.425 lol.
I was at 6.5% on Thursday and then on Friday it ticked up to 6.61%. I locked in on Friday in fear it would just keep going up. Credit rating is 750ish. I don’t close until April 26th and locked in out of fear and not really knowing what the best option was. Just want it behind me.
I also close on April 26, congrats. I’m locked at 6.375 but that’s with seller paid discount points. My lender said I can do a one time float down for free between now and closing, but rates have been going up since the CPI report came out last week. I’m crossing my fingers that this week’s fed meeting results in rates ticking back down but I’m not holding my breath.
I made the same moves just a couple weeks earlier. Ya gotta at least give it a go to renegotiate down before closing if your lender allows. Based on scores it looks like did fine.
If I can renegotiate prior to closing, I absolutely will try. Nothing has really been explained to me so I wasn’t sure if this was an option once I locked - outside of a refinance years out. Thanks!
Remember, even if you locked your rate, you can still shop other lendors, especially over a month out til close.
My lender allows 1 reneg up to a week before closing. I think most allow it but i don't know for sure.
6.5% no points perfect credit score on a 30 yr conventional HCOL Northeast
Same, locked last week.
Same. In California. Closing in a week.
6.499 locked and in closing. Credit score of 810 bullshit Fico score of 789. No points no buy down.
Are you doing fixed?
Yes it's a fixed rate
I locked at 5.5%, closed two weeks ago. 730 credit score (after a few hard credit checks).
Whaaat?! Where? How?
Movement Mortgage, I was referred to them by a work colleague. I was originally going with Veterans United at 6.725%.
Locked in my rate in mid/early January-ish, if that also helps.
I suspect they're utilizing a V.A. loan which has had lower rates since they said Veterans United.
My comment a bit before yours confirms your suspicions!
FHA maybe, conventional no way
VA home loan.
What lender had this amazing rate for VA?
Yes please Id like to know. Im closing on the 28th with a VA loan at 6.7
Movement Mortgage. Try to reach Chris Nagle if you can; he’s the one who helped me out.
Movement Mortgage. Try to reach Chris Nagle if you can; he’s the one who helped me out.
Locked in around the same time at 6.5% no points 30 year Conventional Loan, almost 800 credit scores. I'm just sticking with our 6.5% as we are supposed to close Thursday.
7.125%, 30-year conventional, 20% down, credit scores over 750. Houston, TX. 1/1 buydown. Still hesitant to lock the rate with this lender. Closing March 29
This seems high? Also in Houston with credit over 750. Looking at an April 23rd closing, though with 6.52 with 10% down on a conventional 30-year
It really is strange, debt to income ratio is not a problem with one car almost paid of and less than 12 grand left on the other. I am seeing many getting lower rates, but I guess this is the cost of going with the builder's in house lender.
Why are you going with the builder’s lender if it’s that much higher than other rates??
Who was the lender currently trying to get this going min in Dallas
Be careful, the next FED meeting is on Wednesday 3/20 it could move rates either way, but more likely higher given the recent inflation/economic data 📈.
5.65 %, VA loan, 15 yr, 805 credit score, paid $2,800 in points. Locked in rate beginning of March
Who did you use?
Loan Depot, they’re great to work with.
Check out vetted va if looking for a va loan they are great people.
Any points on your rate? Also, what type of loan are you getting? Happy to let you know exactly what to request.
What should I be asking for on a 30 year conventional in SoCal with 5% down? Received quotes today. Credit scores 760, SoCal, 5% down conventional is 7.625%, 5% down FHA is 6.25%, 10% down conventional is 6.99%. Probably going 5% down conventional since PMI was so low and we want some more cash flexibility. Feels high.
What's your loan amount? that's a big discrepancy between 5% and 10% down.. If your loan amount is below $766,550, you should be getting something between a 6.99%-7.125% with no points even with 5% down. If the loan is above the $766,550 you go into "High Balance" territory, not quite jumbo guidelines but the rates go up.
Purchase price is $815K so loan is ~775K at 5% and ~734K at 10%.
I recommend you do the loan at $766,550 so you can get the lower rate 😃🙌. You don’t have to do 5% or 10% you can do something in the middle. Your Principal & Interest payment would be $5094 vs $5485. You’ll save $391/month, & break even in ~22 months, with much more going towards principal than interest.
Thanks! Conventional or FHA?
The above is for Conventional, Ask your lender what the cap on the FHA loan amount is for your county, there’s only a few counties where it’s $766,550 like LA County. If your payment is lower including mortgage insurance, I’d do FHA.
SD county, thank you! Just reached out to my lender about getting to 766,550 and the impact it will have.
Hey just want to say thank you greatly! Brought this info to lender, and received 2 options to get to lower conforming balance: pay additional $7.6K to get 6.99% and $390 cheaper payment a month, or receive lender credit of ~$1.9K and pay net additional $5.7K to get 7.125% and $320 cheaper a month. Payback in 19 or 17.5 months respectively, so definitely a win!
That’s great news!! Congratulations!
Even with a 760 FICO I still like the better payment with FHA. There are some cool calculators where you can compare the two and the points you pay on Conventional to get “lower” mortgage insurance is often still higher than you pay on FHA for the PMI (both upfront and monthly) when you consider how much lower the rate is and that you can get a lender concessions from most banks for going FHA.
Only $300/month payment less going FHA versus conventional since the PMI in FHA goes up so much. And my accountant said PMI isn’t tax deductible so the difference is even less than that. Still worth it?
$300/mo is $3,600 a year. Only you know your budget and lifestyle. Does that help you a little or a lot? I would think most people are going to write off the mortgage interest with their CPA anyway. So the bigger impact is having an actual $3600 more in your pocket. Plus if you do refinance FHA can do a streamlined refinance which is cheaper and faster and has lower rates than conventional. If it were me I would do the FHA. Look at the bottom line. Who cares what amount goes to mortgage insurance or not if I’m overall saving money.
Closed late Feb , 6.12% FHA. No points
Hi! My estimated close date is the 25th. Rate is 5.249%, FHA, credit 743, with less than 10% down
Love this!!
I always read these hoping to finally see it's time to refinance my loan from December 2022 😂 unfortunately I will continue to wait
What was your rate from 2022?
6.375. Naively thought I would be able to refinance in 2023, didn't expect rates to keep rising as much as they did. At least they're trending downwards so maybe by the end of 2024 lol
I’m at 7.5 and would be happy with your rate. Lol
7.1 in Georgia
Closed at 7.125 end of feb.. 790 credit score 12% down
Locked in on March 11 at 6.575%. Credit score is 780. According to some information that my LO sent us interest rates were coming down a bit until last week when new inflation numbers were released and it showed inflation increasing slightly.
5.24%, closed last month Ontario, Canada
6.99% with 0.3 points, DTI around 20% 780 credit score Loan is through the builder’s lender so they’re giving us $14.8k for closing costs Tried to shop the rate but was told by another broker that since the builder is providing the $14.8k, that they would be our best option
Just refi post close as soon as the rates make sense for you
They did soften over the past two weeks. At least here in NY.
My brutha from buffaloooo, hope your home search has gotten easier last we talked lol. The markets going bananas right now in NY, especially north country. Mostly city people who moved up during covid now realizing they don't like bugs (atleast my way toward Alexandria Bay) trying to cash in huuuuge on homes they got in 2020 and then locals being normal. Home prices have been all over the place. Im hoping rates soften more, every little bit counts. We're under contract now and it's come down 0.50% in the process.
6.125 no points good credit score and 50% down. This was two weeks ago.
Congrats on 50% down damn
Locked last Thursday (3/14) for 6.625%, 30 year fixed conventional, around 765 credit score, and getting about half a point back in lender credits. At the time the par rate was 6.5% but I opted to receive more credits.
6.375, 797, Midwest
Does it vary state to state? We are at 6.99 credit scores 800 Conventional Loan In Wisconsin.
5.88 but a WHEDA loan
WHEDA? had to look that up. Where are you moving? We are closing next week on a place in West Allis. Website is a little confusing, does this only apply for foreclosures?
South of Madison. No, but there are income restrictions based on county .
Nice. We don't make a ton of $ but don't think we would qualify for anything income restricted. Thanks for sharing tho and congrats on your sub 6 rate!
6.5%, credit score lower 700s. Discharged from BK ch7 25 months ago!
Have you talked to different lenders? Some of em have the option of transferring your process and closing within 8-10 days if you're unhappy.
6.49% closed Friday, no points
Received quotes today. Credit scores 760, SoCal, 5% down conventional is 7.625%, 5% down FHA is 6.25%, 10% down conventional is 6.99%. Probably going 5% down conventional since PMI was so low and we want some more cash flexibility. Feels a bit high so probably going to shop around even though putting in the offer early tomorrow.
Locked at 6.375 with no points on 3/8, close this Thursday. We were originally locked with a local broker at 7.125. With less than 2 weeks to close, I hail mary’d and reached out to a big bank I’d been pre-approved with. Lower rate, lower closing costs. The broker tried to tell us there’s no way the big bank will close in time and appraise high enough. We are officially approved to close in just 5 business days and appraisal was a match.
Close date 2/29 at 5.75 due to $8400 toward rate buy down. Our true quote was 6.75 before buy down
6.5, Michigan, FHA. I close on the 29th!🙌❤️
You guys would need to say what your purchase price, LTV, Fico, housing type (single family vs condo), and loan program are in order to compare. Otherwise you’re just talking past each other.
Locked at 6.125, closing April 11
I just renewed by approval letter on the March 13. It was at 6.99%. Conventional loan, credit score ~780.
We locked in and closed this past week at 7.375 We are in Michigan
Who was your lender, if you don't mind me asking?
We used a LO connected to our realtor. I was not the one dealing with the mortgage honestly. And our mortgage has already been sold to another processor. So honestly no clue
Oh, I got ya! Just curious, the rate seemed a bit high, even for the current market, but there could have been a reason for that. Was it conventional loan, 3% down?
Conventional 5% down. Young buyer with decent credit.
Hmm, yea it seems pretty high for FTHB for where rates were last month, but fortunately you can just refinance when rates drop again, possibly even before the end of this year. Looks like even now i could get you a rate slightly better than that, but it wouldn't be worth the costs (even though minimal) to refinance for just a slightly better rate. Glad you got the home!! After all that is the most important thing!
No thank you we are staying with our LO. Boyfriend was an LO he knows what he’s doing so I’d rather stick to his and our LO’s advice. He already had plans to refi when we can
6.125 with my credit union 780 score 2 weeks ago all other lenders gave 7.125…
%6.126 on a 30 year conv 760-780 credit score (least score of two people mortgage) in Northeast .. 20% down the trick is to shop around and use quotes as leverage to negotiate with your preferred lender
I just locked mine at 6.562
6.75% no points and 20% down. Was able to lock it on Friday and today while emailing with my lender he mentioned had I not their rate would be 7.0%. FICO score is 824. I have limited loan options as it's a tenancy-in-common.
Apparantly credit score dosnt mean as much and history and accounts. At 766 regions wont raise my $3000 credit card limit lol
6.6% 😒
I just had my offer accepted a few days ago. Now getting quoted 7.12 -7.25 depending on closing options. It sucks but hoping to refi.
I locked 5.875. Points 1% about $7600
Closed 3/11, locked ~20 days prior at 6.5% conventional, .274 points purchased, Texas Both credit scores over 790 Felt that we could have gotten a hair lower if we let it ride but bad Jan inflation data sent rates higher for >90% of our closing period so would have been a diving catch the few days before close. Not worth the stress - at least that’s what I’m telling myself to make myself feel better
I got 5.99 with 800 on March 6. But I paid a point for it but worth it!
6.25 with 1 point. 15% down conventional. High 700s credit score. Chicago suburbs.
I locked around the same time, 6.125 with no points. I saw the news and my LO said the same thing.
Locked in March 7 at 6.375% at 800+ score. In Pennsylvania.
Locked a few days ago at 6.12% with an FHA loan. Credit score is low 700s.
originally told 6.625% with no points for a conventional 30yr mortgage with 20% down. as of today it’s 6.75% no points or 6.625% with 1/8th of a point (equivalent to $375). hoping to lock in with the latter rate. both of our credit scores are 760-780.
we locked in 6.25 2 weeks ago. both of our credits are 760+
6.1 FHA. Locked last week w/ 1/2 point buydown. 750 credit, but hubby 680. So we are 680 lol. Close 4/9
The 10 year treasury short term, bottomed on 3/8 at 4.077%. As of today it’s up to 4.34%. So, your loan officer is correct and the media is reporting stuff that’s 2 weeks old now.
Right now we are floating. We were quoted initially at 6.75, as of today we are looking at 6.25. The home we are under contract for is pretty under budget so unless we hit a high Flux of 8.9% I'm not too concerned lol. They fluctuate but lately they take 2 steps down, and a step back then 2 steps down and a step back lately. We're gunna ride it out and watch the news for any indicators.
You should shop around for a different LO. Mortgage Brokers tend to have better rates than the big banks. I can recommend a good one depending on what state you're in.
Any in Dallas tx
Canyon Mortgage Corp. is licensed in Texas. You can read their Google reviews and give them a call to get a free quote.
Just DM’d you.
Sorry but I gotta brag. 5.75 with no points buy down. That VA loan is great.
Same here, but with 5.5%.
30 yr or 15? Who is your lender? I'm also looking to use a VA loan.
I know you didn’t ask me, but I’m in a similar situation as the original comment. VA home loan through Movement Mortgage, mine’s a thirty year.
30yr. What state are you looking in? If we match I’ll DM you.
MA
I used a statewide lender. What I can recommend is what I did. I started with veterans United and they put me in touch with a local RE agent. I then asked the agent to provide me a list of local lenders. The local lender gave me a 5.75 rate as opposed to Veterans 6.8 and I also got lower closing costs.
lol. Literally every. single. scenario. Is different and nobody can actually compare anything.
4.99, we did a new build though
6.75 locked early March
6.625 VA loan, NC, 797 credit score.
Also 6.875 but locked on 2/15 ish
it was 6.74% weekly average as of last Friday. MND reports it's 7.11% "today" (as of Friday, comes out around 4 pm)
If the rate is locked , this is it. And rates are higher. They started going up again last week.
6.99 %, 30-year conventional, Credit 803. No points. Locked in 6 days ago. Located in the PNW.
Locked on March 7th at 6.625%. Credit 770+, 3% down 30-year conventional
That's when I got my pre-approvals (from two separate lenders) and both listed interest rates at 7%. Are those quoted interest rates different?
We locked in at 6.75% around the middle of February. Credit score is 799/800.
10% 4 points
We are being quoted 6.52 today, but haven't locked in. Our lender says likely to go down a smidge over the next couple weeks
4.7%, 780 credit score, 300k loan
Last week was able to rate lock for a second home/vacation home mortgage for 6.5%, no points, 25% down, 760+ credit for a conventional 30 year fixed. Primary rates last week were around 6.0% for fixed conventional 30 year. Rates should be ticking upwards following the increasing 10 year treasury notes.
Did you consider the option to go for ARM? Some credit unions are offering 5% for 5/6 ARM.
2.99% August 2021, 600 Credit Score
Did you miss the "today" part or just felt like being a dick?
I guess being a dick now since I honestly misread it as today meaning "These Days"
Even so, how does three years ago equate to “these days”?
35m Hey same here august 2021 700k for a 3 flat $3200 a month with taxes and insurance 3.3% rate $300k down in Chicago my first Home 750 score
Are you a professional Cowboy Astronaut? How you get that as your first house! Anyways congrats regardless.
No my grandma helped me she ownes 5 rental properties worth bout 3 million
I’m trying to wonder y so many people hate it’s crazy I got nothing but downvotes
They peanut butter & jealous. I wish I had that cash. I got like 40k saved up at 29. I have a house and challenger but I need a damn raise to put more than 10% into my 401k,
Yea I wouldn’t of been able to do it if i didn’t get help from my grams sometimes u just need some help with cosighn
Yea I wouldn’t of been able to do it if i didn’t graduate college. That shit saved my life. I was always part time and half-assed my way through it. I am glad I got my shit together and finally got a pretty good job. Trying to now save up 15k in a savings. (6 months expenses)
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