Mortgage Rates

[MomOfADramaQn]

I just got this email from a bank - usually get them every day - will keep you posted


CONVENTIONAL
30 yr fixed - 5.125% APR 5.261% 360 P&I Payments @ $1088.97
15 yr fixed - 4.625% APR 4.853% 180 P&I Payments @ $1542.79
- based on $200,000 loan and excellent credit

GOVERNMENT
30 yr FHA/VA fixed - 5.125% APR 5.755 360 P&I Payments @ $1066.62
- based on $200,000 sales price

THDA
Great Rate - 5.20% APR - 5.762% 360 P&I Payments @ $540.63
Great Advantage - 5.50% APR - 6.075% 360 P&I Payments @ $556.13
Great Start -5.80% APR - 6.390% 360P&I Payments @ $574.71
-based on $100,000 sales price

[tbpew]

Originally Posted by MomOfADramaQn

I just got this email from a bank - usually get them every day - will keep you posted


CONVENTIONAL
30 yr fixed - 5.125% APR 5.261% 360 P&I Payments @ $1088.97
15 yr fixed - 4.625% APR 4.853% 180 P&I Payments @ $1542.79
- based on $200,000 loan and excellent credit

GOVERNMENT
30 yr FHA/VA fixed - 5.125% APR 5.755 360 P&I Payments @ $1066.62
- based on $200,000 sales price

THDA
Great Rate - 5.20% APR - 5.762% 360 P&I Payments @ $540.63
Great Advantage - 5.50% APR - 6.075% 360 P&I Payments @ $556.13
Great Start -5.80% APR - 6.390% 360P&I Payments @ $574.71
-based on $100,000 sales price

thanks, this is helpful.
What is THDA?

I am refinancing a 30yr (7 yrs into it) to a 15 or 20 to fund a major home renovation. A couple of lenders in my area are still reaching for folks (who qualify) with zero closing costs.

A few months back wifey and I got our credit scores. I need to check but I think they were around 740(?).

Even in the crazy free-fall of home values my loan to value will be around .6

Total loan will be under your $200K reference level.

[MomOfADramaQn]

Originally Posted by tbpew

thanks, this is helpful.
What is THDA?

I am refinancing a 30yr (7 yrs into it) to a 15 or 20 to fund a major home renovation. A couple of lenders in my area are still reaching for folks (who qualify) with zero closing costs.

A few months back wifey and I got our credit scores. I need to check but I think they were around 740(?).

Even in the crazy free-fall of home values my loan to value will be around .6

Total loan will be under your $200K reference level.

THDA only would apply to a TN resident - guess I could have left that part off

[ILG]

Originally Posted by MomOfADramaQn

I just got this email from a bank - usually get them every day - will keep you posted


CONVENTIONAL
30 yr fixed - 5.125% APR 5.261% 360 P&I Payments @ $1088.97
15 yr fixed - 4.625% APR 4.853% 180 P&I Payments @ $1542.79
- based on $200,000 loan and excellent credit

GOVERNMENT
30 yr FHA/VA fixed - 5.125% APR 5.755 360 P&I Payments @ $1066.62
- based on $200,000 sales price

THDA
Great Rate - 5.20% APR - 5.762% 360 P&I Payments @ $540.63
Great Advantage - 5.50% APR - 6.075% 360 P&I Payments @ $556.13
Great Start -5.80% APR - 6.390% 360P&I Payments @ $574.71
-based on $100,000 sales price

Thanks, Mom. I also am getting a daily update from a bank. We do have to lock in very soon and I'm just wondering if anyone has any projections for the next week or week and a half...an educated guess....

[MomOfADramaQn]

Originally Posted by ILG

Thanks, Mom. I also am getting a daily update from a bank. We do have to lock in very soon and I'm just wondering if anyone has any projections for the next week or week and a half...an educated guess....

I am in the real estate business and from talking to banks/mortgage companies, they don't even know what is is going to do from day to day - at least that is what they tell me

[ILG]

Originally Posted by MomOfADramaQn

I am in the real estate business and from talking to banks/mortgage companies, they don't even know what is is going to do from day to day - at least that is what they tell me

Okay, thanks. I am annoyed because we were not allowed to lock in when it was under 5% and then after it went up we were told we could lock in. Grrrr.....I am waiting to see what it will be today.

[rgcraig]

My lender said they don't understand why it has gone up, but they are hoping to see them drop a bit in a couple weeks.

I do hope they go back down a bit before I have to lock in.

[ILG]

Originally Posted by rgcraig

My lender said they don't understand why it has gone up, but they are hoping to see them drop a bit in a couple weeks.

I do hope they go back down a bit before I have to lock in.

No one seems to understand why they have gone up. 5.5% again today. Ugh. We have to lock in very soon.

[rgcraig]

Originally Posted by ILG

No one seems to understand why they have gone up. 5.5% again today. Ugh. We have to lock in very soon.

There was a report that the sale of homes has increased, so maybe that is what is triggering the rise.

I don't understand it all!

[ILG]

Originally Posted by rgcraig

There was a report that the sale of homes has increased, so maybe that is what is triggering the rise.

I don't understand it all!

You would think with the economy the way it is they would just leave them down! Well, I guess we have to figure that that's a good rate regardless.....