Mortgage Refinance - New Records Interest Rates

[Hoggslayer]

Sure wish the appraiser would have told me they needed to come in the house and take a picture of every room and all of our junk. With everyone home officing it looks like a bomb went off in here.

[Soggy Bottom]

Anyone locked in a 30 year today? Looks like rates may be rising some.

[Heav]

Trey, any update on what's going on with rates lately?

[rtp]

I heard yesterday that some lenders have stopped doing 30 yr jumbos all together and that rates are definitely higher. Im not smart enough to understand this. I would have thought with all the liquidity coming into the system to make sure lending continues to happen, that rates would remain low and lenders would keep lending. I guess there is a lot more to it than my simplification of it.

[muley4x4]

I was supposed to close next week. Disclaimer that I'm not using Trey. I spoke with him and he's a standup fella.

I was told that I was being delayed until May 13 so about 20 days. I'm assuming that Covid 19 is part of it. Is the other part all of the underwriters writing small business loans?

[Pineywoods]

I was supposed to close next week. Disclaimer that I'm not using Trey. I spoke with him and he's a standup fella.

I was told that I was being delayed until May 13 so about 20 days. I'm assuming that Covid 19 is part of it. Is the other part all of the underwriters writing small business loans?

Man that stinks. We are waiting to close on our new house and we are supposed to close on the 24th. We are hoping we don't get delayed. I hear underwriting, appraisals, etc are taking longer right now.

[RockTippedStick]

We closed yesterday with Trey's bank. 15 year at 2.875. Cut five years off the mortgage and cut our monthly by $50.

[solocam_aggie]

We closed yesterday with Trey's bank. 15 year at 2.875. Cut five years off the mortgage and cut our monthly by $50.

Nice!

Sent from my SM-G892A using Tapatalk

[rtp]

We closed yesterday with Trey's bank. 15 year at 2.875. Cut five years off the mortgage and cut our monthly by $50.

When did you lock in the rate?

[TeamAmerica]

Rates are improving. I just locked at 3.34% on a 30 year refi with cash out and hoping I can improve that before I close.

[Tex_Cattleman]

It's a roller coaster for sure!

For anyone eyeing those rates posted above, keep in mind that's for the 'perfect' loan. Think 800 credit, high loan amount lower loan to value, no cash out. If you're off on any of those, it begins to creep up.

Also want to mention something on credit score. All the different entities that tell you your score, including credit karma? That is not a mortgage credit score. Your credit pulled for a home loan WILL be lower.

Sent from my SAMSUNG-SM-G930A using Tapatalk

[JLivi1224]

Anyone on the fence, jump on this!

We close next week. Interest rate dropped almost two percent on 30year. This has truly been Gods work where we are concerned. Things are tightening around here, and this is going to save us a critical $600+/ month!

Thanks Trey!

[jaime1982]

We close on the 20th of this month, 2.375%

Sent from my SM-G960U using Tapatalk

[tfrye]

Just had the notary leave the house, it is finished!

Thanks again Trey!

[Playa]

We are supposed to close Monday. We bought our house in Nov of 2018. Refi for 30 years cut our rate from 5.12 to 3.35. Our mortgage co made a mistake last spring and re-assessed our escrow. Consequently we were short $4,500 and looking at having to pay a $7,800 chunk of cash and our mortgage was going to go up.

Trey lumped the escrow shortage and closing costs, mortgage is only going up $200, will be $450 less than what was calculated to compensate for escrow shortage

We got out of this deal about as scot free as we could have.