I got 3.4 a few months ago when I bought my house. Insane how low they are.
"No free man shall ever be debarred the use of arms. The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government"
-- Thomas Jefferson, 1 Thomas Jefferson Papers, 334
That was last week...they've gone back up a little bit since then. Any time you hear that in the news you're about a week behind the actual rates. Rates quoted like that also typically assume paying a point (1% of the loan amount up front to bring down the rate).
Man I need to refi, just not sure if I qualify. Also not sure if this is the time to do it; I don’t have any money for closing cost so that is a big part of my reluctance to apply.
The other day I went to Lending Tree, just to look around. Next thing you know my phone is being blown up for a month straight by these banks. Never answered though as I am not sure what to ask or be weary of...
Originally posted by Sean88gt
You can take white off the list. White on anything is the best, including vehicles, women, and the Presidency.
Originally posted by Baron Von Crowder
You can not imagine how difficult it is to hold a half gallon of moo juice and polish the one-eyed gopher when your doin' seventy-five in an eighteen-wheeler.
That was last week...they've gone back up a little bit since then. Any time you hear that in the news you're about a week behind the actual rates. Rates quoted like that also typically assume paying a point (1% of the loan amount up front to bring down the rate).
We just locked in our 3.2 rate today. Almost went with a 15 year note at 2.875 after doing several amortization calculations though, figured better just to keep extra $ in bank and put toward payment. That way its there in case you need it for other things also.
FHA(it is a refi, just want to take 90% value) 30 year fixed Did amortization with as little as a 15 year note would be versus putting that much extra per payment to loan on 30 year note and liked what i saw with the 30 and extra cash flow if needed and not making double payments. SO although 15 year would have been 2.875, but 3.25% is still a HUGE gain for us(1.4%), and we are rolling in our equity loan(4% gain) with it also. so hands down best thing to do.
3.2%, no discount points charged
not interested in credit from lender. Do not want .25% or whatever increase to cover a small 2k up front. That will cost tens of thousands in life of loan if not paid off early.
FHA(it is a refi, just want to take 90% value) 30 year fixed Did amortization with as little as a 15 year note would be versus putting that much extra per payment to loan on 30 year note and liked what i saw with the 30 and extra cash flow if needed and not making double payments. SO although 15 year would have been 2.875, but 3.25% is still a HUGE gain for us(1.4%), and we are rolling in our equity loan(4% gain) with it also. so hands down best thing to do.
3.2%, no discount points charged
not interested in credit from lender. Do not want .25% or whatever increase to cover a small 2k up front. That will cost tens of thousands in life of loan if not paid off early.
At 200k a 1/4 point is about $25. or $300 a year. That's around $9k over 30 years. Not chicken feed, but not "tens of thousands" either.
Meh, got 4.00% when I bought my house in April. I really wanted to pay that point to get in at 3.85, but it would have taken around 10 or 15 years to break even.
Wish I could have locked in a 3.2% or 3.6% with no points.
Pretty amazing, huh? Rates like these pre-date the '50's and probably even before that. What a great opportunity for (especially for young people) to actually buy a place cheaper than what rent would cost.
Pretty amazing, huh? Rates like these pre-date the '50's and probably even before that. What a great opportunity for (especially for young people) to actually buy a place cheaper than what rent would cost.
This is why I cant wait to pay down my land enough to build.
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