Rates are good!!!!!!!!!!!!!!

Gonnacatchapeacock Posted: Jun 02, 2005 03:40 PM

Rates are good!!!!!!!!!!!!!!

Anybody lock recently? What rate - jumbo or piggyback?

:) :) :)

How long before closing do you lock the rate???

'On or about' july 10th????????

kissy27 Posted: Jun 02, 2005 07:53 PM

Re: Rates are good!!!!!!!!!!!!!!

we got a jumbo mortgage with a rate of 5.75% fixed...We locked in on May 26th & are closing on or around August 20th

myasmom Posted: Jun 02, 2005 08:45 PM

Re: Rates are good!!!!!!!!!!!!!!

Posted by kissy27

we got a jumbo mortgage with a rate of 5.75% fixed...We locked in on May 26th & are closing on or around August 20th

you must have put down 20%..I wish we could..CONGRATS

LuvMyMichael Posted: Jun 02, 2005 09:07 PM

Re: Rates are good!!!!!!!!!!!!!!

ok.......we just paid to lock in at 5.25% for 30 days only, so I hope the seller gets her butt out on time!

halloweenbride04 Posted: Jun 02, 2005 10:15 PM

Re: Rates are good!!!!!!!!!!!!!!

Yes, our broker told us today that the rates just dipped back down into the 5's.

kissy27 Posted: Jun 03, 2005 07:48 AM

Re: Rates are good!!!!!!!!!!!!!!

Posted by myasmom

Posted by kissy27

we got a jumbo mortgage with a rate of 5.75% fixed...We locked in on May 26th & are closing on or around August 20th

you must have put down 20%..I wish we could..CONGRATS

Yea we are putting a little over 20% down

BlazeSyth Posted: Jun 03, 2005 08:05 AM

Re: Rates are good!!!!!!!!!!!!!!

Posted by panapoli

ok.......we just paid to lock in at 5.25% for 30 days only, so I hope the seller gets her butt out on time!

Same here - we locked last week and have it until July 4th. I'm concerned about the seller moving part, but my lawyer says 'anytime now, and 30 days should be fine..'

Easy for him to say...

myasmom Posted: Jun 03, 2005 10:28 AM

Re: Rates are good!!!!!!!!!!!!!!

what lender, mortgage company or bank are you guys using?

I need rates like that ..pretty please

FTRBRIDE Posted: Jun 03, 2005 01:14 PM

Re: Rates are good!!!!!!!!!!!!!!

5.875% on our first. It would have been a little lower but we're putting down only 6%.

Gonnacatchapeacock Posted: Jun 03, 2005 01:24 PM

Re: Rates are good!!!!!!!!!!!!!!

Posted by panapoli

ok.......we just paid to lock in at 5.25% for 30 days only, so I hope the seller gets her butt out on time!

Is that for a jumbo mortgage??

myasmom Posted: Jun 03, 2005 05:32 PM

Re: Rates are good!!!!!!!!!!!!!!

Posted by FTRBRIDE

5.875% on our first. It would have been a little lower but we're putting down only 6%.

Are you doing two loans since you said first ...

7706bride Posted: Jun 03, 2005 10:29 PM

Re: Rates are good!!!!!!!!!!!!!!

We had locked in back in November at 5.5%

FTRBRIDE Posted: Jun 03, 2005 11:09 PM

Re: Rates are good!!!!!!!!!!!!!!

Posted by myasmom

Posted by FTRBRIDE

5.875% on our first. It would have been a little lower but we're putting down only 6%.

Are you doing two loans since you said first ...

Yes, we're doing a fixed piggy back loan to avoid PMI and to be able to deduct additional interest. We had our mortgage broker run about 7 GFEs for us for different types of loans. As between all of them (including 30 year fixed w/PMI), the fixed piggy back loan was a substantially lower payment. Obviously the loans that were adjustable were lower, but I would never chose an adj. rate.

Blu-ize Posted: Jun 06, 2005 03:24 PM

Re: Rates are good!!!!!!!!!!!!!!

I just refi'ed for 5.25 and I'm pulling money out to buy another house (investment). It's a 30 year lock. The other house will have a rate of 5 with a 10 year lock.

agrech Posted: Jun 06, 2005 04:14 PM

Re: Rates are good!!!!!!!!!!!!!!

We locked at 5.6 today for a 30 year fixed

jandt2006 Posted: Jun 07, 2005 10:31 AM

Re: Rates are good!!!!!!!!!!!!!!

Posted by FTRBRIDE

5.875% on our first. It would have been a little lower but we're putting down only 6%.

6% down???

FTRBRIDE Posted: Jun 07, 2005 02:20 PM

Re: Rates are good!!!!!!!!!!!!!!

Posted by jandt2006

Posted by FTRBRIDE

5.875% on our first. It would have been a little lower but we're putting down only 6%.

6% down???

Yes, about 6% down (somewhere betwee 5-6%). What's so confusing about that???

HearzBellz Posted: Jun 07, 2005 02:47 PM

Re: Rates are good!!!!!!!!!!!!!!

Posted by myasmom

what lender, mortgage company or bank are you guys using?

I need rates like that ..pretty please

we got 6.25% for a 40-yr..nothing down.

FM me if you want to know our broker's details.

myasmom Posted: Jun 07, 2005 04:46 PM

Re: Rates are good!!!!!!!!!!!!!!

Posted by HearzBellz

Posted by myasmom

what lender, mortgage company or bank are you guys using?

I need rates like that ..pretty please

we got 6.25% for a 40-yr..nothing down.

FM me if you want to know our broker's details.

Our broker actually talked us out of the 40 year. Did they explain what the 40 year actually entails? Maybe it was the way he explained it to us. We are so confused about this whole process.

HearzBellz Posted: Jun 07, 2005 04:49 PM

Re: Rates are good!!!!!!!!!!!!!!

Posted by myasmom

Posted by HearzBellz

Posted by myasmom

what lender, mortgage company or bank are you guys using?

I need rates like that ..pretty please

we got 6.25% for a 40-yr..nothing down.

FM me if you want to know our broker's details.

Our broker actually talked us out of the 40 year. Did they explain what the 40 year actually entails? Maybe it was the way he explained it to us. We are so confused about this whole process.

We know that we are re-financing in 2 years to cash out equity to expand the house, so we will re-fi into a 30 yr.

The whole thing to me is like learning a foreign language. I was not thrilled about the 40 year at first, but if you know 100% that you will re-fi, then it is not so bad.