usctrojancpa
Well-known member
Cornflakes said:
Investment property <60% LTV.
How low can we go? 30 yr fixed at 3.75% with no fees...
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Investment property <60% LTV.
I'll PM you the contact info to my refi lender. One is that the 7/1 ARM has a lower rate, fixed for a longer period, and the adjustment index is the 1-year LIBOR rate for the 7/1 ARM versus the 5-year CMT rate (basically the 5-year bond rate) for the 5/5 ARM.
The re-set on the 5/5 ARM is the 5-year CMT plus 2% or 2.25% when the 5-year fixed period is up. I rather deal with a 1-year LIBOR index on resets.
Fed is setting the overnight rate which has little to do with 30yr mortgage rates.
I think the lowest purchase I've seen on this thread is 3.25.
20% down?
Click the "Soylent Corporation" image on your right. John W can assist you, give him a call.
that's a good deal, the extra 3% is not much for such a low rate. Not that I did the math.
We shopped w/ Chase, WF, BoA, and QuickenLoans. We took our best offer back to the preferred lender and they beat it.
Investment property <60% LTV.
usctrojancpa
Well-known member
Paris said:
I'll PM you the contact info to my refi lender. One is that the 7/1 ARM has a lower rate, fixed for a longer period, and the adjustment index is the 1-year LIBOR rate for the 7/1 ARM versus the 5-year CMT rate (basically the 5-year bond rate) for the 5/5 ARM.
usctrojancpa
Well-known member
qwerty said:
The re-set on the 5/5 ARM is the 5-year CMT plus 2% or 2.25% when the 5-year fixed period is up. I rather deal with a 1-year LIBOR index on resets.
paperboyNC
New member
dethman said:
Fed is setting the overnight rate which has little to do with 30yr mortgage rates.
irvinehomeowner
Well-known member
That has to be purchase correct?renter1 said:
I think the lowest purchase I've seen on this thread is 3.25.
BruinDoc
New member
Just closed on a purchase, jumbo 30-year fixed @ 3.125% through Wells Fargo (no fees, no points). They are the builder's preferred lender. Was originally 3.25% but got additional .125% discount on the rate for existing relationship banking since I do most of banking through Wells Fargo. I don't know if that rate would have been available at the local branch.
irvineshadow
New member
BruinDoc said:
20% down?
potsticker
Active member
renter1 said:
Click the "Soylent Corporation" image on your right. John W can assist you, give him a call.
irvineshadow
New member
BruinDoc said:
that's a good deal, the extra 3% is not much for such a low rate. Not that I did the math.
potsticker
Active member
Locked back in August for a purchase under the following terms: 30 yr fixed jumbo, 3.125%, no pts, -$5k back in lender credits. We're set to close next week.
This was with the builder's preferred lender, but it took quite a bit of shopping and back/forth to get this deal.
This was with the builder's preferred lender, but it took quite a bit of shopping and back/forth to get this deal.
potsticker
Active member
eyephone said:
We shopped w/ Chase, WF, BoA, and QuickenLoans. We took our best offer back to the preferred lender and they beat it.
irvinehomeowner
Well-known member
Preferred lender? OnQ?