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Posted: 9/28/2011 2:31:10 PM EDT
What is good interest rate for a home mortgage now? 4% with no points? I got a good credit rating of 798 and want to finance about $300K on a $580K house.
Link Posted: 9/28/2011 2:31:58 PM EDT
[Last Edit: 9/28/2011 2:32:20 PM EDT by Evil_ATF]
Relevant to my interdastings.
Link Posted: 9/28/2011 2:37:06 PM EDT
I closed about a month ago on a 30yr fixed loan for $360k at 4.5% with an avg credit score of 786 and thought at the time I got a great deal. Well I did get a great deal at the time but if I were about to buy a home I would wait a few months and see if the rates actually get down to the 3.5% I've heard projected.
Link Posted: 9/28/2011 2:57:15 PM EDT
I closed on a a my refi two weeks ago for 4.125% 30year fixed on a $520K home. The lowest I've ever seen was 3.85% with points.
Link Posted: 9/28/2011 3:00:51 PM EDT
[Last Edit: 9/28/2011 3:03:23 PM EDT by kteaton]
I just closed at 4.2% with no points on my first home last week. 30 years, good credit, VA loan. Could have bought it down much more but the program I was buying the home through didn't allow me to buy out points as long as they were paying the closing costs.
Link Posted: 9/28/2011 3:01:32 PM EDT
Closed on the first. I've got a credit score of seven eighty something. Thirty year loan at 4.25%. Could have bought points down but running the nunbers it didn't seem worth the cost. Paid closing out of pocket as it was less than fifteen hundred bucks.

Posted Via AR15.Com Mobile
Link Posted: 9/28/2011 3:07:27 PM EDT
I locked in a 3.25 with pentagon federal yesterday. The other shop I checked offered me 3.85.

15 year note.

Posted Via AR15.Com Mobile
Link Posted: 9/28/2011 3:12:10 PM EDT
Originally Posted By FlyingBrass:
What is good interest rate for a home mortgage now? 4% with no points? I got a good credit rating of 798 and want to finance about $300K on a $580K house.


https://www.google.com/advisor/mortgages
http://www.mortgagenewsdaily.com/
and go to the very end of this thread,
http://www.fatwallet.com/forums/finance/788032/

ar-jedi
Link Posted: 9/28/2011 3:16:51 PM EDT
About to close on 30 yr 4.25% fixed with a 795 credit score (20 years of credit history). I thought I could get a better rate, but I guess not.

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Link Posted: 9/28/2011 3:19:30 PM EDT
Just closed on a 15 year at 3.25% after paying 2.1 points, 20% down, 119k closing price. Could have gone with a 30 year at 4.0% with the same points, crunched the numbers, and decided the 15 year made more sense.
Link Posted: 9/28/2011 3:27:38 PM EDT
Here DJ starts negotiating at 3.6 fixed and TD at 3.99

Link Posted: 9/28/2011 8:34:00 PM EDT
Originally Posted By godrilla47:
I closed on a a my refi two weeks ago for 4.125% 30year fixed on a $520K home. The lowest I've ever seen was 3.85% with points.


I used to tell people, "If rates get much lower than this something has gone terribly wrong and we will ALL be in trouble."

We are now all in trouble.

Enjoy the free money while you can.
Link Posted: 9/28/2011 8:49:23 PM EDT
just got approved for 4.25%, but the guy said i could also probably get 3.99% if i really wanted
Link Posted: 9/28/2011 8:53:04 PM EDT
I hope to be getting 2.75% to 3.25% next March / April.
Link Posted: 9/28/2011 9:08:15 PM EDT
$200,000 for 15 yrs at 3.5%...signed the refinance paperwork yesterday.

Rhino

Link Posted: 9/28/2011 9:19:58 PM EDT
Closing Friday on a 52k condo in Dallas, 30yr fixed fha @ 4.25%, no points. They offered 4% with 1 point, but for such a small loan it just wasn't worth it.
Link Posted: 9/28/2011 11:48:52 PM EDT
Originally Posted By Nerf:
Closing Friday on a 52k condo in Dallas, 30yr fixed fha @ 4.25%, no points. They offered 4% with 1 point, but for such a small loan it just wasn't worth it.


Wow..just Wow I was at 12.25% in NY late 80's, paid off now but ....Wow...
Link Posted: 9/29/2011 12:30:07 AM EDT
just locked in 3.65 with no points for 15 years.
Link Posted: 9/29/2011 12:53:55 AM EDT
Best jumbo loan I can get at the moment is 5%

(Still a lot better than the 6.5% first/7.25% second mortgages I was on until recently)
Link Posted: 9/29/2011 1:01:59 AM EDT
Originally Posted By MarkNH:
Best jumbo loan I can get at the moment is 5%

(Still a lot better than the 6.5% first/7.25% second mortgages I was on until recently)


is Jumbo 500k ?
Link Posted: 9/29/2011 1:03:54 AM EDT

Originally Posted By flash556:
Originally Posted By MarkNH:
Best jumbo loan I can get at the moment is 5%

(Still a lot better than the 6.5% first/7.25% second mortgages I was on until recently)


is Jumbo 500k ?

417k in most parts of the country, some areas have higher limits that are getting lowered tomorrow.
Link Posted: 9/29/2011 2:07:57 AM EDT
4.5% on a 30 year and you're doing good. I did a refi a while ago and got it down to just over 4%. As soon as I pay off a debt I will be investing heavily in more property.
Link Posted: 9/29/2011 2:27:17 AM EDT
[Last Edit: 9/29/2011 2:27:44 AM EDT by bigsapper]
Someone more knowledgeable about this shit may chime in and correct me but,

When the Fed announced recently that it would begin purchasing long term bonds (Operation Twist), my understanding is that rates will probably go to 2.5% or less by the end of next month.

So you might wait awhile to see. They certainly aren't going up anytime soon.

Link Posted: 9/29/2011 2:38:11 AM EDT
Score of 842. Completed papers last night. Hovering for a 4.00 percent or better for a 30 years with no points.
Link Posted: 9/29/2011 2:50:46 AM EDT
[Last Edit: 9/29/2011 2:52:49 AM EDT by Admiral_Crunch]
I'm locked in on a refi at 3.875% on a 20-yr fixed. No points.

Wish I hadn't refi-ed a couple of years ago at 5.375 on a 30. Had no idea rates were going to drop this low. Basically wasted the closing costs on that one.
Link Posted: 9/29/2011 3:05:49 AM EDT
I applied Monday for a 15 yr refi @ 3.25%, not locked in yet
Link Posted: 9/29/2011 3:12:29 AM EDT
Why not buy a $300K house and fuck the banks ChiComs and Saudi's?
Link Posted: 9/29/2011 3:36:50 AM EDT
I'm about to close on the 14th, locked in at 3.875% with 0 points.
Link Posted: 9/29/2011 3:41:23 AM EDT

Originally Posted By aimforthemedic:
I'm about to close on the 14th, locked in at 3.875% with 0 points.

this seems to be the par rate right now.
Link Posted: 9/29/2011 3:42:12 AM EDT
[Last Edit: 9/29/2011 3:43:53 AM EDT by bulldog1967]
Closed last month on our new house outside of DC.

Locked in at 4.375% for 30 years with no points on a $460k loan.
Link Posted: 9/29/2011 3:50:31 AM EDT
[Last Edit: 10/4/2011 5:13:27 PM EDT by Bat-Masterson]
Link Posted: 9/29/2011 4:05:39 AM EDT
I got a smokin' deal on my VA Refinance:

3.25%, with them GIVING me a point as well!

I will get about $1600 at closing...which will go right back on the principle.

Link Posted: 9/29/2011 4:23:20 AM EDT
I just refinanced at 4.0 fixed!
Link Posted: 9/29/2011 4:28:40 AM EDT
My brother just got 3.80% for a 30/Fixed

740 Mid-score.
Link Posted: 9/29/2011 4:43:25 AM EDT
About to close today - 3.65% for 15 year fixed, no points. Credit score 798-803.
Link Posted: 9/29/2011 4:45:53 AM EDT

Originally Posted By Bat-Masterson:
This is why I pay cash don't have to worry about interest and points, but then again I am not the average American and buy and live below my means.

Home before last paid $90,000 cash and 2 years later insurance cut me a check for $267,000, only in America God I love this country and how they just throw money around.

You are going to have to explain yourself here.

Whose head were you holding a gun to? Blackmail pictures?
Link Posted: 9/29/2011 5:20:58 AM EDT

Originally Posted By Heuristic:
My brother just got 3.80% for a 30/Fixed

740 Mid-score.

That's great for a 30. Do you know if he had any points?
Link Posted: 9/29/2011 5:31:47 AM EDT
[Last Edit: 9/29/2011 5:32:18 AM EDT by FreeFloater]
I refinanced at 4.5% in October 2010. So it seems over the past year, the rate is the same as where it was a year ago (though I'm sure it's fluctuated over the past 12 months, and is currently below 4.5% it seems) I just wanted to let you know what I got last year as a point of reference.
Link Posted: 9/29/2011 5:48:46 AM EDT
[Last Edit: 10/4/2011 5:13:05 PM EDT by Bat-Masterson]
Link Posted: 9/29/2011 6:14:53 AM EDT
[Last Edit: 9/29/2011 6:15:44 AM EDT by HermanSnerd]
Can any of you guys recommend a good website that can calculate your current mortgage and then
calculate how much you would save by re-financing and how soon it would take for the re-finance to pay
for itself?



Link Posted: 10/4/2011 7:44:47 AM EDT

Originally Posted By HermanSnerd:
Can any of you guys recommend a good website that can calculate your current mortgage and then
calculate how much you would save by re-financing and how soon it would take for the re-finance to pay
for itself?




Try this one.

http://www.bankrate.com/calculators/mortgages/refinance-calculator.aspx
Link Posted: 10/4/2011 8:17:29 AM EDT
Originally Posted By Admiral_Crunch:

Originally Posted By HermanSnerd:
Can any of you guys recommend a good website that can calculate your current mortgage and then
calculate how much you would save by re-financing and how soon it would take for the re-finance to pay
for itself?




Try this one.

http://www.bankrate.com/calculators/mortgages/refinance-calculator.aspx


Thanks.

Still trying to decide if I want to stay where I am or downsize.



Link Posted: 10/4/2011 8:21:29 AM EDT
Closed two weeks ago with a fixed 4.25 with a 770 credit score
Link Posted: 10/4/2011 8:21:48 AM EDT
Wifes in the title business and being last Friday the end of the month she was swamped and she told me first time she has seen a lot of loans coming though at under 4
Link Posted: 10/4/2011 8:23:45 AM EDT
My neighbor just purchased a 900 sq ft, two bedroom home for $60,000.00 at 3.75%, if this helps any.

Link Posted: 10/4/2011 8:24:35 AM EDT
[Last Edit: 10/4/2011 8:26:54 AM EDT by MikeEagle12]
I just got pre approved for a FHA loan the other day at 3.75%, my credit score is around 720

Glad I held off on purchasing a house this time last year when it was above 5
Link Posted: 10/4/2011 8:30:40 AM EDT
[Last Edit: 10/4/2011 8:32:37 AM EDT by Hamel]
Rates at a local fed savings place I did a refi last year when I thought they weren't going any lower. Now I'm actually thinking of refi again to a 15 (nearly a 1.5 point difference from my current rate).

30 Yr Fixed
2 PTS.
3.500%

1 PT.
3.625%

0 PTS.
3.875%
20 Yr Fixed
2 PTS.
3.250%

1 PT.
3.500%
0 PTS.
3.750%
15 Yr Fixed
2 PTS.
2.750%
1PTS.
3.000%
0 PTS.
3.250%
Link Posted: 10/4/2011 8:36:38 AM EDT
Originally Posted By USMCTanker:
My neighbor just purchased a 900 sq ft, two bedroom home for $60,000.00 at 3.75%, if this helps any.



WTF is the payment on that $250 you just can't go wrong
Link Posted: 10/4/2011 2:58:07 PM EDT
Originally Posted By Bat-Masterson:
Originally Posted By USMCTanker:
My neighbor just purchased a 900 sq ft, two bedroom home for $60,000.00 at 3.75%, if this helps any.



WTF is the payment on that $250 you just can't go wrong


I'm going to assume that's with zero down, because he told me his payments were $450.00 or so a month, which is less than what he was paying in utilities alone in his current home.

The trade off is two bedroom, 1 bath homes are so small as to make it less than ideal to live in. He just had a yard sale to divest himself of household "stuff" he couldn't fit into his new home.

The seller wanted $68,000.00 with new floors and heating / air conditioning and ducting installed. He low-balled them for $8,000.00 less expecting to get a counter-offer and they said "we'll take it!".

Two bedroom homes can be hard to sell.
Link Posted: 10/5/2011 4:44:35 AM EDT

Originally Posted By USMCTanker:
Originally Posted By Bat-Masterson:
Originally Posted By USMCTanker:
My neighbor just purchased a 900 sq ft, two bedroom home for $60,000.00 at 3.75%, if this helps any.



WTF is the payment on that $250 you just can't go wrong


I'm going to assume that's with zero down, because he told me his payments were $450.00 or so a month, which is less than what he was paying in utilities alone in his current home.

The trade off is two bedroom, 1 bath homes are so small as to make it less than ideal to live in. He just had a yard sale to divest himself of household "stuff" he couldn't fit into his new home.

The seller wanted $68,000.00 with new floors and heating / air conditioning and ducting installed. He low-balled them for $8,000.00 less expecting to get a counter-offer and they said "we'll take it!".

Two bedroom homes can be hard to sell.

Maybe went 15 or 20 year, cause that rate is lower than any 30 yr (plus that payment might include the property tax/ins)
Link Posted: 10/19/2011 8:07:02 PM EDT
lots of 3.875's
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