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What do you think about this quote?

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  • January 01 2009 - Providence
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Answers (6)

seven1111, since you have been offered 4.875% now, try to lock that rate this morning! Why the $3300 mtg payment up top but in your list of liabilities you say mtg payment is $7500? Does that include another mtg with rental income? 
  • January 02 2009
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Since the quote is for a 2 unit and fico under 740 ( total of .75 adj ), 5.25%-5.375% is realistic or 5.5-5.625 and no points. 
  • January 02 2009
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It's too high...  that's what most people want to hear...
  • January 01 2009
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I have two 10 year mortgages on two different properties.  I was looking to re-fi the property with the most equity first, then re-fi the other.  Have a local quote for 5.5 but I think that is high.  Waas looing for  a 30 year around 4.75 to 5.  The person that quoted 6.25 must be crazy
  • January 01 2009
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I just went back to that quote.  How can someone have a monthly mortgage payment of $7,500 on a loan that is that small, paying 7.250 on a 10 year note?  Are taxes that high in Rhode Island?  :-)
Obviously, the lender didn't look at the detail  Borrower makes 10k per month and debts are not that high.  So, his DTI is way lower than what was inputted.  He or she should get a rate of around 5.00 with no points.
Must be a stellar API quoter.  The flaws of that system . . .
  • January 01 2009
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It pretty much stinks.  Why even waste the time on the quote when the DTI is greater than 70%----unless income and debt wasn't entered properly.
6.75 and one point on top?  Wow!
  • January 01 2009
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