So how did I do?

OnePaw,

Did you use someone from Zillow?

Better yet, did you lock with Greg Denney?

Yes, from Zillow.

Locked with Greg Denny :)

Not bad,

I am assuming 6% is with the buydown

what is the rate with out the buydown??

Unfortunately, the UFMIP can not be paid outside closing. It MUST be financed with the loan. In otherwords, it has to be rolled in no matter what (unless it is a VA). A 6.0% as of yesterday was paying yield spread premium. The points you paid to buy the rate down may have been a good deal when your rate was locked, but if you price it out now... you should not be charged a discount. If I were you, I would have taken a slightly higher rate, had the seller pay for closing costs, and then do an FHA Streamline down the road. But we all have different opinions so its more a matter of personal preference.

Ya, I realize rates dropped on Friday - what can ya do right?

Guys,

He went with Greg Denney.  Greg will give him the best he or anyone of us can.  If he can lower the rate he will.  To second guess one of the most successful, honest, direct and candid Lender on Zillow is rather in poor taste and somewhat classess at that.

Just stick with your LO paw,

You cannot chase rates, it is not fair to you LO and you will develop hemorrhoids in the process.

The wisdom buy down will depend how long you will stay in the house, with respect to payment differential.

How long do you intend to stay and what is your rate without the buy down?

BOT,

You just can't help yourself, can you?  I am sure that Greg and OnePaw have gone over EVERTHING including the buy-down, expected time in the home etc.  OnePaw has soaked up a helluva lot of info on these threads over the past few months.  So, it isn't like he is a babe in the woods, so to speak.

If I could retire from this industry and needed someone to refinance me, Greg Denney would be one of my first choices. 

Bank of Texas - I definitely hear you - this week was pretty unstable and could have gone either way. I'd rather be locked at 6.0% than not lock and be looking at a rate quite a bit higher if things would have gone the other way.

I'm definitely sticking with Greg D - he has been phenomenal. I'm just posting the outcome of my ordeal that Zillow helped me with as promised in a previous thread.

On the 12th I had the option of taking 6.5 with no points or this deal. Seeing as I had quite a bit left over from the seller concessions I decided to buy the rate down. Planning on staying in the house for at least 5-7 years. I looked at the amortization schedules and we break even after 3 years or so ...

1 PAW..

You are good2go..  I think that helps prove my initial point about good people and bad people in no matter what industry there is.  GVD is a good one... The referred friend and Coldwell SPANK 'er... not so good..  There is a group of us that are consumers' protectors.  Ask, listen to us and you will be cared for. Please spread the word about 2 things... The good work of GVD  and the ZILLOW Mortgage Angels who made sure you were handled properly and saved you $1,000's without ever trying to jam you.  See picture below of us in action at a local rally:

One Paw...You did fine.  Even on Friday 6.0% was not paying enough YSP that you would have gotten away without paying any points or origination.  Glad to see you went with Denney.

FHA....You are completley off with the UFMIP.  It can be paid through a sellers concession.  The fact is that One Paw was getting over $10,000 seller's concession so why not buy the rate down.  Also why are you and BOT trying to sell a fellow Zillower under the bus. GVD did right by him especially with what One Paw was originally looking at.

MW would be one of my first choices too, but only after I brushed up on my philosophy from college so I could understand what the hell he would be saying . . .  :-)

It's all good--------keep rockin!

That was a compliment.

Greg you are confusing me??

I said "stick with your LO "

Doesn’t mater how dysfunctional I think people can personally are, I try to be fair and un-bias when it comes to business.

Why do you feel like you have the right to constantly people all the time.

You know what... I out of here.. maybe back when you decide to flip your switch to positive.

Martin - thanks again!

The guy from Coldwell Banker called me yesterday and wanted to "check in to see if I had secured a lender yet". I told him yes and I was very happy then called him out on him trying to skin me alive.

He didn't have much to say after I told him I knew he was making 2.6+ in YSP + fees and a huge rate.

Joe,

Like I mentioned before, it is not showing respect, professionalism, dignity or class at all.  Greg Denney deserves the same amount of respect as any of us if not moreso at times.  The guy knows exactly what he is doing and is most honest.  Yeah, he can be combative but so what.  He speaks his mind.  I put him in the same catagory as George Devine, Martin and a handful of others.  A most respected lot.

BOT,

No, I am not confusing you.  Rather, I am stating the obvious.  No one is bashing you and the switch is on positive.  Read your comments. 

I am thrilled that OnePaw went with GVD.  He is in good hands and I wouldn't have made one tiny comment about anything nor raised an eyebrow about any of the figures.  Why?  Because it would be insulting to a guy who is most intelligent about the mortgage market, he is a fellow lender and who is impeccably honest to say the least.  Not one eybrow would I have raised.

Maybe we are from different places.

1PAW,

Thanks, but more importantly congrats..  As far as CW SPANKer... they are a little handtied with rates (always NEVER the lowest, but that is OK as well) mainly because pricing for services is directed downward from corporate..  The problem I have with those types of operations is that there is convenience to you (they are right there... but there is convenience to them... you are right there) yet the convenience cost is passed on to you... Remember there was not marketing cost for JABBA the HUT LO... he had the cubicle next to where you signed the contract.. The one with 7 jelly-filled donuts from DUNKIN' that morning.   Anyway, it is a shame how bundling of services is more costly to a consumer, but that is the way it is..  Please tell me SPANK er  did not charge a "processing fee" to you (buyer)... Many firms in FL charge processing/handling on top of 6% and it makes me want to reach for the air sickness bag..  You are good to go and cant' wait to hear of your closing and ribbon-cutting ceremony. 

OnePaw,

Congrats.  You are in good hands and no one can deny that.

Greg Darlin,

Thanks a bunch :)

Huge thanks goes out to all of the zillow lenders that have helped me along the way.

Your help has been invaluable and I will definitely refer everyone that asks to zillow for their mortgages.

OnePaw, very nice. Locked at 6% on a 30 Yr has a very nice ring to it. You saved a ton of money. 

OnePaw,

You are welcome but I didn't do anything but irk the hell out of you a month or so ago!  But, that was then . . .

Tell Greg I said "hello."

This is a forum...

Last I checked it meant. It was a place where ideas and point of views were freely discussed.

I would appreciate if you would stop making it personal whenever someone agrees, disagrees or has a different point of view. Just answer the question.

Paw Paw,

The conventional wisdom says that each upfront point will roughly correspond to 5 years to break even. My point of view to your question, again you can do the math with you LO, the amount of buy down will depend on how long you are going to stay in the house.

Food for thought.

EriK,

Nobody is jamming you.  You are entitled to your opinions.  Again, I have said this many times before.  It is critical that we (with the designations) make sure we are more learned about the topics and questions prior to responding (not saying you are not). You can review ONEPAW's original thread about being jammed by  his/her referrred friend and CW SPank'ers' LO... GVD as we expected smoked them...  ONEPAW's decision to lock on FRI has nothing to do with GVD.  The pricing that day is market driven like stock.. The banter back and forth from market forces and converting that into an LO's markup/profit is a stretch at best... If rates had risen 3/8%... We would say the PAY and GVD are geniuses... They are not... Just a buyer/borrower/LO and a home to live in.  I didn' t read or care about the rate/deal as I know it was fair... You do too.. When you come in with color commentary dissecting it like a 10th grade BIOLOGY teacher with a frog... it creates hostility.  I read you  and I read the attitude a little.. No worries from me, but charting STI on another thread (I laid it against yours to get my facts) is just asking for trouble. Make some loans, help some peeps, calm some nerves and it is all good my brother.  Borrowers and Buyers need calmness and a guardian angel with a BIG STICK when needed... Only when needed.  Keep rockin' my brother.

Folks,

There is a certain wood that is distinct and looms within the living quaters of people.  It's called, "peckerwood."  I guess that is where the saying goes, "Once a . . .  always a  . . ."

MW,

Thank you saying what I wanted to but doing it in a gracious way.

Martin,

Look back to what I said,

I did not make any negative personal comments about anybody, or solicit in any way, in fact I made a positive comment to Georgios credit saying "not bad".

In fact I went out of my way by saying "Just stick with your LO paw, you cannot chase rates, it is not fair to your LO."

The borrower was asking for opinions and I gave it by saying "do the math with you LO; the amount of buy down will depend on how long you are going to stay in the house."

For the record, I suspended lending in CA.

Greg, shame on you for talking like that. You lost a lot of respect by doing so. 

Shame on a rowdy few that highjack these perfectly useful discussion forums. 

But again my fault, what was I expecting by coming on the threads.

GSD,

You are welcome and it would apply to all other pros. Again, we should really "act like we've been here" as they say in sports. We need to take a step back and maybe re-read some of our own posts over.  Did we ponder or pander?  Did we instigate or educate?  Did we attempt to help or help ourselves?  Some responses or lack thereof from our comments or threads speak volumes about each of us and how easily one's intentions and how transparent we really are. If more of us were here with intentions to help others get what they need, not want, we will get what we need not want in return. It's all good and keep rockin'. 

Erik,

I actually said nothing offensive to you at all.  So, if I lost your respect then so be it.  I doubt I lost anyone else's for joking about a special, distinct wood that looms around the human quarters of us all.  At worst that was PG humor.

I am not going to get into a flame war with you or anyone else.  So, if that is what you want, you will not get your way.

It appears that you are rather sensitive about issues I do not know about and that is okay.

I simply wanted you and others to respect the fact that OnePaw chose a really good, honest, super competitive lender from Zillow and we should applaud him for the loyalty to us and not have him second guess his decision or the loan structure.  Courtesy is coutesy.

Parlaying for a reputable plug are you?  Okay, you are a cool guy.  Better?