So, we were preapproved for a mortgage for a co-op. The lender told us that because it's a co-op the % will be a little higher than a house.
What is the best interest rates you've seen out there? I want to make sure that we have the most competitive rate!
Thank you!
futuremrsfab
Posted:
Member since
Re: Best house or co-op interest rate out there?
hmmm, thats interesting that they are charging you more- we bought a coop in October and I think our rate was the same as the housing market. We went through a mortgage broker that I work with at Prudential- here is her information
Ellen Staffieri Senior Loan Officer Preferred Empire Mortgage Company 200 Broadhollow Rd. Suite 300 Melville, NY 11747 Direct 631-396-1415 Fax 631-614-4369 [email protected]
She is fabulous to work with- can not say enough good things about her!
CD516
Posted:
Member since
Re: Best house or co-op interest rate out there?
So funny, i work for Preferred Empire too. Ellen is a good friend of mine and yes she is great. FM me if you have any questions.
But to answer your question, most lenders do have an adjustment now to rate for a coop/condo so it will be a little higher . There are some banks that arent doing that yet, but they may not be the banks with the best rates for your situation- its a case by case thing.
Espo22
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by futuremrsfab
hmmm, thats interesting that they are charging you more- we bought a coop in October and I think our rate was the same as the housing market. We went through a mortgage broker that I work with at Prudential- here is her information
Ellen Staffieri Senior Loan Officer Preferred Empire Mortgage Company 200 Broadhollow Rd. Suite 300 Melville, NY 11747 Direct 631-396-1415 Fax 631-614-4369 [email protected]
She is fabulous to work with- can not say enough good things about her!
yeah that is weird bc i also got the same rate as a house. When i first got the apartment hmmm it was 5.something lol can't remember exact percentage but it was under 6.
CD516
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by Espo22
Posted by futuremrsfab
hmmm, thats interesting that they are charging you more- we bought a coop in October and I think our rate was the same as the housing market. We went through a mortgage broker that I work with at Prudential- here is her information
Ellen Staffieri Senior Loan Officer Preferred Empire Mortgage Company 200 Broadhollow Rd. Suite 300 Melville, NY 11747 Direct 631-396-1415 Fax 631-614-4369 [email protected]
She is fabulous to work with- can not say enough good things about her!
yeah that is weird bc i also got the same rate as a house. When i first got the apartment hmmm it was 5.something lol can't remember exact percentage but it was under 6.
The banks just started raising rates for coops/condos over the last few weeks.
NapaValleyGirl
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by futuremrsfab
hmmm, thats interesting that they are charging you more- we bought a coop in October and I think our rate was the same as the housing market. We went through a mortgage broker that I work with at Prudential- here is her information
Ellen Staffieri Senior Loan Officer Preferred Empire Mortgage Company 200 Broadhollow Rd. Suite 300 Melville, NY 11747 Direct 631-396-1415 Fax 631-614-4369 [email protected]
She is fabulous to work with- can not say enough good things about her!
Thank you Marybeth!
Espo22
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by CD516
Posted by Espo22
Posted by futuremrsfab
hmmm, thats interesting that they are charging you more- we bought a coop in October and I think our rate was the same as the housing market. We went through a mortgage broker that I work with at Prudential- here is her information
Ellen Staffieri Senior Loan Officer Preferred Empire Mortgage Company 200 Broadhollow Rd. Suite 300 Melville, NY 11747 Direct 631-396-1415 Fax 631-614-4369 [email protected]
She is fabulous to work with- can not say enough good things about her!
yeah that is weird bc i also got the same rate as a house. When i first got the apartment hmmm it was 5.something lol can't remember exact percentage but it was under 6.
The banks just started raising rates for coops/condos over the last few weeks.
yeah i know, i would say a few months ago we got it at 6.something again i keep forgetting exact percentage. In january we got it at the lowest actually it was pretty good. I am going through it now but honestly still isn't that high as of now. At least not what we've been given.
NapaValleyGirl
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by CD516
So funny, i work for Preferred Empire too. Ellen is a good friend of mine and yes she is great. FM me if you have any questions.
But to answer your question, most lenders do have an adjustment now to rate for a coop/condo so it will be a little higher . There are some banks that arent doing that yet, but they may not be the banks with the best rates for your situation- its a case by case thing.
Thank you! The bank is Bank of America and they gave us a rate or 5.25%
I'm hoping that it's a good rate!
Espo22
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by NapaValleyGirl
Posted by CD516
So funny, i work for Preferred Empire too. Ellen is a good friend of mine and yes she is great. FM me if you have any questions.
But to answer your question, most lenders do have an adjustment now to rate for a coop/condo so it will be a little higher . There are some banks that arent doing that yet, but they may not be the banks with the best rates for your situation- its a case by case thing.
Thank you! The bank is Bank of America and they gave us a rate or 5.25%
I'm hoping that it's a good rate!
that is good though
NapaValleyGirl
Posted:
Member since
Re: Best house or co-op interest rate out there?
Thank you! The bank is Bank of America and they gave us a rate or 5.25%
I'm hoping that it's a good rate!
that is good though
Great!! Thank you!!!
bluekat16
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by CD516
Posted by Espo22
Posted by futuremrsfab
hmmm, thats interesting that they are charging you more- we bought a coop in October and I think our rate was the same as the housing market. We went through a mortgage broker that I work with at Prudential- here is her information
Ellen Staffieri Senior Loan Officer Preferred Empire Mortgage Company 200 Broadhollow Rd. Suite 300 Melville, NY 11747 Direct 631-396-1415 Fax 631-614-4369 [email protected]
She is fabulous to work with- can not say enough good things about her!
yeah that is weird bc i also got the same rate as a house. When i first got the apartment hmmm it was 5.something lol can't remember exact percentage but it was under 6.
The banks just started raising rates for coops/condos over the last few weeks.
Why did they just start raising it for co-ops/condos?
CD516
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by bluekat16
Posted by CD516
Posted by Espo22
Posted by futuremrsfab
hmmm, thats interesting that they are charging you more- we bought a coop in October and I think our rate was the same as the housing market. We went through a mortgage broker that I work with at Prudential- here is her information
Ellen Staffieri Senior Loan Officer Preferred Empire Mortgage Company 200 Broadhollow Rd. Suite 300 Melville, NY 11747 Direct 631-396-1415 Fax 631-614-4369 [email protected]
She is fabulous to work with- can not say enough good things about her!
yeah that is weird bc i also got the same rate as a house. When i first got the apartment hmmm it was 5.something lol can't remember exact percentage but it was under 6.
The banks just started raising rates for coops/condos over the last few weeks.
Why did they just start raising it for co-ops/condos?
Unfortunately, its hard to know why the banks do anything they do these days. But i would assume, that they feel as though these loans are higher risk. That is usually why they adjust rates higher- due to risk factor. HTH
snwb08
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by NapaValleyGirl
Posted by CD516
So funny, i work for Preferred Empire too. Ellen is a good friend of mine and yes she is great. FM me if you have any questions.
But to answer your question, most lenders do have an adjustment now to rate for a coop/condo so it will be a little higher . There are some banks that arent doing that yet, but they may not be the banks with the best rates for your situation- its a case by case thing.
Thank you! The bank is Bank of America and they gave us a rate or 5.25%
I'm hoping that it's a good rate!
that's good Cindy - I have my mortgage with them and I'm in the middle of refinancing... I'm waiting/hoping for a refi it'll drop to 5% soon, but I think 5.25% for a buy is good - no points right?
Jenn04
Posted:
Member since
Re: Best house or co-op interest rate out there?
I think that is a good rate! I think ours is higher than that and our mortgage is with BOA but our rate is from 2 yrs ago and we havent looked into refi yet.
NapaValleyGirl
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by snwb08
Posted by NapaValleyGirl
Posted by CD516
So funny, i work for Preferred Empire too. Ellen is a good friend of mine and yes she is great. FM me if you have any questions.
But to answer your question, most lenders do have an adjustment now to rate for a coop/condo so it will be a little higher . There are some banks that arent doing that yet, but they may not be the banks with the best rates for your situation- its a case by case thing.
Thank you! The bank is Bank of America and they gave us a rate or 5.25%
I'm hoping that it's a good rate!
that's good Cindy - I have my mortgage with them and I'm in the middle of refinancing... I'm waiting/hoping for a refi it'll drop to 5% soon, but I think 5.25% for a buy is good - no points right?
Great! and yes, no points!
futuremrsfab
Posted:
Member since
Re: Best house or co-op interest rate out there?
Posted by NapaValleyGirl
Posted by snwb08
Posted by NapaValleyGirl
Posted by CD516
So funny, i work for Preferred Empire too. Ellen is a good friend of mine and yes she is great. FM me if you have any questions.
But to answer your question, most lenders do have an adjustment now to rate for a coop/condo so it will be a little higher . There are some banks that arent doing that yet, but they may not be the banks with the best rates for your situation- its a case by case thing.
Thank you! The bank is Bank of America and they gave us a rate or 5.25%
I'm hoping that it's a good rate!
that's good Cindy - I have my mortgage with them and I'm in the middle of refinancing... I'm waiting/hoping for a refi it'll drop to 5% soon, but I think 5.25% for a buy is good - no points right?
Great! and yes, no points!
that seems good to me- we are at 5.725 but thats a rate from September. The only thing I would see is if this applies to you- first time home buyers in NY State can get lower rates up to a certain income.
