How low can we go? 30 yr fixed at 3.75% with no fees...

[id_rather_be_racing]

Just got off a call with owning to re-fi to the 2.625% rate on a high conforming loan.  I was quoted 2.625% with half a pt cost.  Going to try and get other lenders to match or beat with no closing costs.  800+ FICO score with very little utilization. 

 

[Irvinehomeseeker]

2.625 is great rate....I have to wait another 2 weeks before I can reapply with owning. Hopefully the rates will be same or lower by then.

 

[aquabliss]

Anyone know if owning.com lets you buy points?

 

[irvinebullhousing]

Anyone know if owning.com lets you buy points?

Why would you want to do that? 30 is at 2.625 and to go down to 2.5% you will have to pay 2.25 points of your loans amount to buy it down.

Not worth it. Save te money and take a vacation.

 

[aquabliss]

Anyone know if owning.com lets you buy points?

Why would you want to do that? 30 is at 2.625 and to go down to 2.5% you will have to pay 2.25 points of your loans amount to buy it down.

Not worth it. Save te money and take a vacation.

Haven't looked into buying down rates before but I thought 1 point reduces .25% for a cost of 1% of the mortgage amount? 

So, say for example I'm looking at getting a $600k loan with owning for 2.625%.  Wouldn't I only need to buy a half point (.125%) to bring it to a 2.5% loan for a total cost of $3,000?  (one half of one percent of the loan amount)?

At $39 saving a month its about a 6.5yr break even so ya, might not be worth it.

 

[akkord]

Just got off a call with owning to re-fi to the 2.625% rate on a high conforming loan.  I was quoted 2.625% with half a pt cost.  Going to try and get other lenders to match or beat with no closing costs.  800+ FICO score with very little utilization.

They are willing to do no cost for me today when I talked to them. 

 

[John]

I closed with Owning 2 weeks ago for 30yrs at 2.99%

I already submitted an application with LenderFi to refinance again. Someone in the thread on the Bogleheads forum just posted that they got a rate of 2.5%, no points, no fees, 30yr fixed, $765k, 76% LTV, located in California.

I want that.

 

[Irvinehomeseeker]

I closed with Owning 2 weeks ago for 30yrs at 2.99%

I already submitted an application with LenderFi to refinance again. Someone in the thread on the Bogleheads forum just posted that they got a rate of 2.5%, no points, no fees, 30yr fixed, $765k, 76% LTV, located in California.

I want that.

If you haven't locked yet, can't you ask your agent to lock in at this great rate? LenderFi may be slow to respond with the volume

 

[id_rather_be_racing]

I closed with Owning 2 weeks ago for 30yrs at 2.99%

I already submitted an application with LenderFi to refinance again. Someone in the thread on the Bogleheads forum just posted that they got a rate of 2.5%, no points, no fees, 30yr fixed, $765k, 76% LTV, located in California.

I want that.

I saw that as well John (been following that thread daily for datapoints).  I just applied to LenderFi yesterday as well and am waiting to hear back from the agent.  Once I get an LE, going to counter Owning and see if they can match or beat.

 

[Cares]

Anyone know if owning.com lets you buy points?

Why would you want to do that? 30 is at 2.625 and to go down to 2.5% you will have to pay 2.25 points of your loans amount to buy it down.

Not worth it. Save te money and take a vacation.

Haven't looked into buying down rates before but I thought 1 point reduces .25% for a cost of 1% of the mortgage amount? 

So, say for example I'm looking at getting a $600k loan with owning for 2.625%.  Wouldn't I only need to buy a half point (.125%) to bring it to a 2.5% loan for a total cost of $3,000?  (one half of one percent of the loan amount)?

At $39 saving a month its about a 6.5yr break even so ya, might not be worth it.

It's not 1 point = 0.25% all the time. Loan amount matters because it'll be hard to cover costs for a $200k loan vs a $510k loan.

 

[Cares]

I closed with Owning 2 weeks ago for 30yrs at 2.99%

I already submitted an application with LenderFi to refinance again. Someone in the thread on the Bogleheads forum just posted that they got a rate of 2.5%, no points, no fees, 30yr fixed, $765k, 76% LTV, located in California.

I want that.

I saw that as well John (been following that thread daily for datapoints).  I just applied to LenderFi yesterday as well and am waiting to hear back from the agent.  Once I get an LE, going to counter Owning and see if they can match or beat.

I have serious doubts the person got 2.5% no point/fees on a high balance loan. On a conforming loan yes it's doable.

 

[ChiKid24]

I closed with Owning 2 weeks ago for 30yrs at 2.99%

I already submitted an application with LenderFi to refinance again. Someone in the thread on the Bogleheads forum just posted that they got a rate of 2.5%, no points, no fees, 30yr fixed, $765k, 76% LTV, located in California.

I want that.

I saw that as well John (been following that thread daily for datapoints).  I just applied to LenderFi yesterday as well and am waiting to hear back from the agent.  Once I get an LE, going to counter Owning and see if they can match or beat.

I have serious doubts the person got 2.5% no point/fees on a high balance loan. On a conforming loan yes it's doable.

The jumbo market (>$765k) isn't supporting these rates, but I think the high balance conforming market can get that rate. I'm actually starting to see new posts from people getting 2.375% with some costs/fees, so zero cost 2.5% seems very likely.

 

[ldubyou]

thoughts on ~750k @ 2.75%? closing costs ~2-3k working with lender

 

[potsticker]

thoughts on ~750k @ 2.75%? closing costs ~2-3k working with lender

You shouldn't have to pay closing costs. Owning is advertising 2.625% under $765k.

 

[AW]

Regarding owning, when I just called, the ad rates are ltv <= 50, and goes up if higher.  No cost.

 

[Navigatn]

Regarding owning, when I just called, the ad rates are ltv <= 50, and goes up if higher.  No cost.

Yup, can confirm.  If you want a 2.625% 30 yr fixed free loan with owning, LTV must be 50% or less.  51- 75% LTV, it's goes up to 2.875% no cost.

 

[Irvinehomeseeker]

I was quoted 2.625 over the phone for 56% LTV ....for owning.

 

[AW]

lol, so i guess keep on calling back until you get an agent who can give you a better deal.

when i called, it was 2.625 for ltv <= 50, 2.75 for 51-60, 2.875 for 61-70... etc...

 

[akkord]

My brother got 2.5 for just over 50% LTV for conforming, I got 2.625 for high conforming < 50% LTV with owning.

I have a local lender who matched ownings 2.625 no cost as well.  Neither would give me 2.5 when I asked yesterday.  Never checked Lenderfi. 

 

[Irvinehomeseeker]

Cashcall is back online...great rates there too. 2.5% for confirming.