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Replies (16)
- Joe Cafiero, "Joe Cafiero"
- Contributions:3220
Providing that this is not a condo and you are not looking at a long term lock, you should go with none of the offers and maybe find someone else. I would think you should be able to start with 5.0% with 0 points and go from there. Contact Gregorio Denny at the top of the list to the right. He would be a good place to compare with
Agreed, none of the above! (Again assuming it's not a condo or investment property)
It looks like 4.625% with the $12,000 seller credit should bring you in with nothing out of pocket except your 120K DP.
It looks like 4.625% with the $12,000 seller credit should bring you in with nothing out of pocket except your 120K DP.
- John Paunan, "John Paunan"
- Contributions:1145
Just out of curiosity, is this considered a jumbo loan in California? What do the conventional limits go up to out there? I'm sure I could look it up, but I don't feel like it.
- John Paunan, "John Paunan"
- Contributions:1145
Alas, no confumbos in Illinois...
San Diego County limit is $697,500 John.
- carmen25
- Contributions:128
This is a SFR and I need a 30 day lock....
Long story short...my closing date is Dec.7th.
I have been trying to get all the conditions cleared for a month now, but the delay is due to "the underwriter is backed up." And everytime they tell me to resend something. I have to ask for an extension for escrow because the house I'm buying is bank owned and needs MAJOR repairs (full kitchen, 5 baths, new interior paint due to vandilism, and fix and refill the pool)...I don't know how having an empty pool makes the house not livable (the pool is closed with plywood)....
I had my offer accepted, opened escrow, sent the deposit, did the home inspection, and did the appraisal....Only thing everyone is waiting for is the underwriter to get off her behind and work on my file. It has been a total of 2 1/2 months that I have sent all my paperwork. Takes them weeks just to tell me they need more docs. It's been 4 weeks since I sent them the rest of the docs. And I have yet to recieve an answer......Sorry for venting, I am just pissed. How am I supposed to repair a whole house and get it appraised in less than 4 weeks?
Long story short...my closing date is Dec.7th.
I have been trying to get all the conditions cleared for a month now, but the delay is due to "the underwriter is backed up." And everytime they tell me to resend something. I have to ask for an extension for escrow because the house I'm buying is bank owned and needs MAJOR repairs (full kitchen, 5 baths, new interior paint due to vandilism, and fix and refill the pool)...I don't know how having an empty pool makes the house not livable (the pool is closed with plywood)....
I had my offer accepted, opened escrow, sent the deposit, did the home inspection, and did the appraisal....Only thing everyone is waiting for is the underwriter to get off her behind and work on my file. It has been a total of 2 1/2 months that I have sent all my paperwork. Takes them weeks just to tell me they need more docs. It's been 4 weeks since I sent them the rest of the docs. And I have yet to recieve an answer......Sorry for venting, I am just pissed. How am I supposed to repair a whole house and get it appraised in less than 4 weeks?
You were not informed prior to sending your paperwork that the pool would need to be filled and operational or that the repairs would need to be made?
Looks like rate is the least of your worries. Was "rate" the criteria you used to pick your current loan officer?
Looks like rate is the least of your worries. Was "rate" the criteria you used to pick your current loan officer?
- carmen25
- Contributions:128
I sent in my paperwork before the house was listed. I knew it was going to be listed, just didn't know when. My agent has been GREAT. I picked the agent listing the house and I picked the lender who's bank owns the house, so I cen better my chances ( which it worked).....
I don't mind repairing the house, I just want all conditions cleared. They just keep asking for stupid stuff and taking forever. What should I tell the lender regarding the rates? How should I respond? I keep trying to be nice, I wish I can cuss them out, but I just want to get this over with. They are taking their sweet time and don't care when my closing date is or that I have to do major repairs before closing... (This house has been gutted)
I don't mind repairing the house, I just want all conditions cleared. They just keep asking for stupid stuff and taking forever. What should I tell the lender regarding the rates? How should I respond? I keep trying to be nice, I wish I can cuss them out, but I just want to get this over with. They are taking their sweet time and don't care when my closing date is or that I have to do major repairs before closing... (This house has been gutted)
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
John,
This is Super Conforming. Maximum Loan Limit in CA for SC = $729,750. Greg is correct for SD County = $697,500. .... Lazy guy. #:>)
This is Super Conforming. Maximum Loan Limit in CA for SC = $729,750. Greg is correct for SD County = $697,500. .... Lazy guy. #:>)
Thats a bit high for closing costs, but the rates are currently amazing!! You pay a little to get A LOT!!!!
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Carmen,
By any chance is your lender Provident Funding?
I had this occur with a pool without water on a home that was in snow country and the lake was even frozen. Pools were always drained in the winter. Almost took an act of God to get over that hurdle. What you are facing about the pool is "normal." .... Best wishes!
By any chance is your lender Provident Funding?
I had this occur with a pool without water on a home that was in snow country and the lake was even frozen. Pools were always drained in the winter. Almost took an act of God to get over that hurdle. What you are facing about the pool is "normal." .... Best wishes!
- John Paunan, "John Paunan"
- Contributions:1145
- Greg Darlin, "Greg Darlin"
- Contributions:3238
Not a good rate even today as the rates spiked a little as of yesterday.
You should be able to get 4.875 with no points.
Being in California, you should contact Gregorio Denny. He will take care of your loan conditions and the rate. But, please keep in mind that if and when you do lock in a rate be happy with it. Rates do go up and down. The Broker and Investor, by locking a rate, have made a committment to you.
You should be able to get 4.875 with no points.
Being in California, you should contact Gregorio Denny. He will take care of your loan conditions and the rate. But, please keep in mind that if and when you do lock in a rate be happy with it. Rates do go up and down. The Broker and Investor, by locking a rate, have made a committment to you.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Thanks Greg!
Nice seeing you back on the boards. Also, your avatar has a nice new look! .... Nothing like a little rehab, right? #:>)
Nice seeing you back on the boards. Also, your avatar has a nice new look! .... Nothing like a little rehab, right? #:>)
- David Nezri, "Direct Lender"
- Contributions:265
Rates are high. You should be looking for 5.000% No Points in today's market.
Good or Bad Rate??
Loan: $480,000
$0 debt
Excellent Fico (750)
First -time homebuyer
San Diego county, california
Conventional 30 yr fixed
Rates:
5% @ 1 point
4.875% @ 1.375 point
4.75% @ 2.125 point
I have $12,000 seller paid closing costs.
Which one should I go with? Or should I wait? Thanks!
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