Just wanted to share with all of you that if anything good has come out of our delay in moving and purchasing our co-op is that yesterday we locked in at 5.375%, which is AMAZING for a co-op! We initially locked in at 6.0%, I think it was 2 days before the war officially started and that rate expired yesterday, and so we got a new one!
I can't imagine how low the rates are for houses this week!
Valenia
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Woo hoo congrats! I'm glad to hear you got the great rate!!!
We just refinanced yesterday too -- its our second refinance. We got a no points/no closing cost loan and our now going to save over a hundred a month. Yipeee!
dgtlsunshine
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Thats great
HeatherandNick
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Congrats!!!
Diane
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THat is good. Congrats!!!!
MichelleW
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Great news, congratulations!!
Scoop
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great news...congrats!
susans
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That's an awesome rate. Congrats!! Told you it would be worth the wait!
chmlengr
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What great news!! And I know you waited so long for the move and close!!
We too did a re-fi on our mortgage and closed at 5.5% on a 20-year. I know they dropped even lower after we closed.
Marnles
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That's great!
Mary
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What bank/financing company did you use?
Teri
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My bank, BFCU, is offering 4.8 and change for a mortgage - it's unreal! I can't see it going too much lower than that.....!!
teri 4.8 I almost want interest rates to come back up so RE will come down a little...but I guess it evens out...
Mary
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Teri: I FM'd you, but I guess it was not necessary. I am not familiar with those initials. What bank is that?
Teri
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It's Bethpage Federal Credit Union - that rate is without any points ( I don't think!). My DH is the $$ guru - I just report the numbers back here! LOL
We did research many banks in the area and BFCU's were by far the most competitive.
edited to add: Yes, Erica, I agree! LOL As nice as it is to have these low rates, we can't afford too much out there right now!
Jeanene
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Teri - Wow that is a great rate - 4.8%
Question - since it is a credit union - are there restrictions on who they lend to?
Jeanene
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Sorry Teri - two more questions:
With regard to the 4.8% mortgage -
1. Is that a fixed rate mortgage?
2. Is that a 30 year mortgage?
Thanks! (Can you tell we are looking?)
Fran M
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Glad to hear it - something good came out of the delay! Best of Luck with the closing and move.
Teri
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Sorry guys I'm not sure - I think it's a fixed rate at 30 yrs, but not 100 % positive. There are restrictions on who's eligible to become a member of the bank....my company sponsors us, but not sure of the other restrictions.
