irvinehomeowner
Well-known member
USCTrojanCPA said:
Hah. I think my URL is more apropos.
How low can we go? 30 yr fixed at 3.75% with no fees...
- Thread starter ps99472
- Start date
Hah. I think my URL is more apropos.
usctrojancpa
Well-known member
One of my buyers located in a 3.50% rate with 0pts for a 30-year fixed mortgage on Thursday (jumbo loan with A+ credit and 25% on a SFR purchase).
Irvinehomeseeker
Active member
if someone got a great deal like 3.5% rate on a 30 yr Refinance without fees recently, could you please share lender details. Looking to refi a high balance (under 636K) loan.
sgip
Well-known member
Note USC's deal is "Buyer", not "current owner looking to refinance" The purchase to refinance spread is pretty significant now. Most of the biggies have stepped off the gas so as to absorb the deals they have in process now.
Rate comparisons between Lender A and Lender B still can get you a good deal. There are outliers pushing their rates down in order to keep the phones ringing. Take that quote to Big Bank A or B and they'll more often than not knuckle under and give you the same pricing. If you go with an outlier, know that your loan will be sold immediately to the funding bank. That's the only way some companies can push the rate down that far. If you don't care about adding an impound account, or making your payment to one place in September and different one in October, then some of these refinance focused shops can get you the great deal.
I'm holding out for the 2.25 15 year no cost refi. It came in for about a 72 hour window during the last run and vanished once their Secondary Marketing team had their coke binge wind down.
My .02c
Rate comparisons between Lender A and Lender B still can get you a good deal. There are outliers pushing their rates down in order to keep the phones ringing. Take that quote to Big Bank A or B and they'll more often than not knuckle under and give you the same pricing. If you go with an outlier, know that your loan will be sold immediately to the funding bank. That's the only way some companies can push the rate down that far. If you don't care about adding an impound account, or making your payment to one place in September and different one in October, then some of these refinance focused shops can get you the great deal.
I'm holding out for the 2.25 15 year no cost refi. It came in for about a 72 hour window during the last run and vanished once their Secondary Marketing team had their coke binge wind down.
My .02c
irvinebullhousing
Well-known member
Soylent Green Is People said:
Now that's the rate and years would get me jumpin'
I actually like having an impound account. 1 payment a month, and someone else takes care of making the insurance and property tax payments. The 1st prop tax payment after we bought the house, the payment wasn't made, and we got a late notice from the county. The lender boneheads fatfingered the assessor ID # and paid to the wrong account. I assumed the worst and thought I was going to at least get reamed on paying the late fee. But 1 call to the payment processor and they took care of everything.Soylent Green Is People said:
usctrojancpa
Well-known member
Lallo said:
They ticked up about 1/8% in the past few weeks.
sgip
Well-known member
Most companies are treading water until they get some idea what the Fed is going to do (or not do) in the coming days. Please remember that when the Fed raises rates, some loan types get better pricing - higher rates = lower inflation = attractive fixed rates. The reverse is sometimes true when the Fed lowers rates. ARM loans get better, as do Prime Rate HELOC's.
There isn't a tried and true method to guessing where rates will be before, during, or after a Fed rate move - other than "wait and see".
My .02c
SGIP
There isn't a tried and true method to guessing where rates will be before, during, or after a Fed rate move - other than "wait and see".
My .02c
SGIP
Are there any lenders that offer rates on attached condos similar to detached? Or is there no way to get the detached rate on an attached condo?
An example is Provident Funding. The rates they quote is 3.75 on detached for 30yr 10% down, but 4.25 on attached 20% down required.
An example is Provident Funding. The rates they quote is 3.75 on detached for 30yr 10% down, but 4.25 on attached 20% down required.
irvinehomeowner
Well-known member
@TCT: Don't buy attached!!
I've lived in both attached and detached. Of course detached are better in general, but if you're buying newly-built homes, there aren't that much difference between them IMO.
For detached, it's all owner's responsible for everything like the roof, exterior paint, any minor fixes hence you pay only one HOA fee($50-$250). For attached, the HOA covers you pretty much everything exterior wise, but you pay two HOA fees ($250-$399). Of course, if you live in GP, the attached HOA will be around $400-600 per month.
But as far as I understand, it shouldn't be that much different on rates for attached and detached. If you're able to get 3.75% for detached, you should get about the same or something like 3.8% especially new Irvine homes.
For detached, it's all owner's responsible for everything like the roof, exterior paint, any minor fixes hence you pay only one HOA fee($50-$250). For attached, the HOA covers you pretty much everything exterior wise, but you pay two HOA fees ($250-$399). Of course, if you live in GP, the attached HOA will be around $400-600 per month.
But as far as I understand, it shouldn't be that much different on rates for attached and detached. If you're able to get 3.75% for detached, you should get about the same or something like 3.8% especially new Irvine homes.
Mety said:
The GP HOA is $215, I know Altair would be higher, but that's guard gated, not sure if they have attached products, never looked since MR is crazy high. Didn't think any places had $400 sub HOA to get up to $600/month. Which GP attached community do you see that? Is that Novel?
irvinehomeowner
Well-known member
Mety said:
Are you sure it's only a .05% difference? And remember, TCT is doing a 10% down which is not as available on attached products.
Mety said:
We have been quoted by different lenders between 0.3 and 0.5% difference in attached vs detached. The kicker is the better rates on attached require 20% down which we don?t want to do right now.
With new homes yes builders can offer the same rate. Cal pacific and is bank were quoting us the same rate for an attached and detached home in PS. But that is only with the builders partner lender.
TCT said:
US Bank has pretty good/low rates. I would go with them if they offer what you're looking for. Also if you find a better rate elsewhere, you can always ask US Bank to match. They'll most likely do so. Also ask lots of upgrades from CalPac. Never hurts to ask (You won't get what you don't ask).