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Replies (18)
- Wayne Brown, "SDMortgagefinder"
- Contributions:1433
carmen25
What is your existing lender that you are doing a loan with say?
Rates are at all time lows now. You would be smart to lock.
If you don't have a loan in process, find yourself a good mortgage broker in San Diego.
Good Luck and Merry Christmas
What is your existing lender that you are doing a loan with say?
Rates are at all time lows now. You would be smart to lock.
If you don't have a loan in process, find yourself a good mortgage broker in San Diego.
Good Luck and Merry Christmas
- Timothy Sutherland, "SunTrust"
- Contributions:619
Pretty good.
in theory:
let's say you are at 6% and you can refinance to 5% but you'r waiting for what? Maybe 4%?
refinance to the 5% because you know you can; it's a real rate; now let's say all of the sudden there's a huge market for 3.5% MBS and rates drop to 4%. The great thing is you could just refinance again. And if that doesn't happen well at least you still have your 5%
However if you hold onto your 6% because you have a tip from some abstract source that rates will hit 4% and you want to wait, well when that doesn't happen and meanwhile rates go back up; you'll be sitting there with 6%.
- Michael Opheim, "Michael Opheim"
- Contributions:10
Mortgage interest rates are the lowest they have been since the 1940's.
The smart choice would be to lock now and not miss this opportunity.
Merry Christmas!
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Lock!
Was your criteria to get the "best rate?" You didn't discuss fees? Nor, on any of your disclosures no fees were mentioned?
How about their service? Did you discuss that? When did you realize you were charged you too much? By the way, how much is too much?
Was your criteria to get the "best rate?" You didn't discuss fees? Nor, on any of your disclosures no fees were mentioned?
How about their service? Did you discuss that? When did you realize you were charged you too much? By the way, how much is too much?
- Robert Benham, "FHA down to 620 OK!"
- Contributions:776
Hi Carmen. Hard to believe anyone is being charged too much these days. Competition is fierce and we are all trying to cut each others throats to make a living. However if you are getting poor service you need to send a message to your Loan Officer and switch companies. Otherwise you are lining their pockets, encouraging the behavior and asking for the pain you are feeling right now.
- Wayne Brown, "SDMortgagefinder"
- Contributions:1433
carmen25
Contact your lender. If you can't get any resolution, contact your Realtor if you have one.....possibly they can also put the pressure on.
I am not saying that you should since you are already underway, but you might consider contacting a good mortgage broker in SD to discuss your needs.
Good Luck
Contact your lender. If you can't get any resolution, contact your Realtor if you have one.....possibly they can also put the pressure on.
I am not saying that you should since you are already underway, but you might consider contacting a good mortgage broker in SD to discuss your needs.
Good Luck
- Rachel Rosen, "RachelRosen"
- Contributions:1493
You can get instant, anonymous quotes direct from local lenders on Zillow. If you'd like to investigate this option, check out Zillow Mortgage Marketplace: https://www.zillow.com/mortgage/CreateMortgageLoanRequest.htm?lpt=Refinance&amt=Current+mortgage+balance&zc=98104&dtid=
- Christopher Kringle, "SantaRocks2010"
- Contributions:93
Hey Rachel no self promotion please!
- NTETS, "Mr Caveat"
- Contributions:6436
rates have been "at all time lows" for a while and you can get the lowest fees with a short lock you might consider waiting until the last minute, of course there is always the risk of a rate fluctuation but lower fees is good too!
- wayne lancaster, "funds2"
- Contributions:1177
Carmen,
The good news is that a lender can not charge you fees unless you are willing to pay them! Two weeks ago the rates reached another 7 month low but have increased about a .25% since then. You have very little time for the market to recover and improve, and gambling vs sure thing of today's rate could cost you another .25%.
If your current lender is not providing the service you expect find someone that will. I would never expect to close a loan for a consumer that was unhappy with my service if I did not correct the problem.
The good news is that a lender can not charge you fees unless you are willing to pay them! Two weeks ago the rates reached another 7 month low but have increased about a .25% since then. You have very little time for the market to recover and improve, and gambling vs sure thing of today's rate could cost you another .25%.
If your current lender is not providing the service you expect find someone that will. I would never expect to close a loan for a consumer that was unhappy with my service if I did not correct the problem.
- carmen25
- Contributions:128
Thanks for eveyone's input!
I have excellent credit, no debt, 20% down, 30% DTI, $480k loan amount, 30 day closing...
The rates I got were:
5% @ 1 point
4.875% @ 1.5 point
4.75% @ 2.135 %
Regarding my lender, I have tried to call but they prefer email. When I don't hear nothing for days or weeks, and I try to call, I am told "Stop calling us and wasting our time and let us finish doing our job".......
The house I am buying needs MAJOR repairs before closing escrow, and the lender knows that I am under a tight deadline. Their response is "We don't care what you have to repair or how long it takes you, we will finish your loan when we get to it".......
My realtor already contacted the lender, no help.
I have already extended escrow for another 25 days.
I asked my lender to watch the rates and once they get around a certain number, to let me know and lock it. He told ME to watch the rates and that he doesn't do that. I told him I thought that's what lenders do.....His response was "Well yeh we watch rates but I don't have time to watch rates all day"...........
I have excellent credit, no debt, 20% down, 30% DTI, $480k loan amount, 30 day closing...
The rates I got were:
5% @ 1 point
4.875% @ 1.5 point
4.75% @ 2.135 %
Regarding my lender, I have tried to call but they prefer email. When I don't hear nothing for days or weeks, and I try to call, I am told "Stop calling us and wasting our time and let us finish doing our job".......
The house I am buying needs MAJOR repairs before closing escrow, and the lender knows that I am under a tight deadline. Their response is "We don't care what you have to repair or how long it takes you, we will finish your loan when we get to it".......
My realtor already contacted the lender, no help.
I have already extended escrow for another 25 days.
I asked my lender to watch the rates and once they get around a certain number, to let me know and lock it. He told ME to watch the rates and that he doesn't do that. I told him I thought that's what lenders do.....His response was "Well yeh we watch rates but I don't have time to watch rates all day"...........
- Nic Netherton, "Colorado Lender"
- Contributions:7219
Find a different lender. Where are you located?
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Carmen,
Why do you wish to stay with this firm? From what you just stated, their service doesn't sound like it will improve, does it?
There are over 5,000 Mortgage Brokers in CA. Probably, more than 800 in SD. Find one that enjoys serving their clients. No one deserves this type of abuse! .... Best wishes.
Why do you wish to stay with this firm? From what you just stated, their service doesn't sound like it will improve, does it?
There are over 5,000 Mortgage Brokers in CA. Probably, more than 800 in SD. Find one that enjoys serving their clients. No one deserves this type of abuse! .... Best wishes.
- SoCal_Engr
- Contributions:5667
Carmen,
I live in S'Diego and refi'd with a lender through Zillow and had a much better experience. It's probably not kosher to tell you who in this forum, but you can contact me through my profile.
The lender I used answered questions, returned phone calls, let me know where we were in the process, etc. You should not accept less than that from any lender.
Cheers
I live in S'Diego and refi'd with a lender through Zillow and had a much better experience. It's probably not kosher to tell you who in this forum, but you can contact me through my profile.
The lender I used answered questions, returned phone calls, let me know where we were in the process, etc. You should not accept less than that from any lender.
Cheers
- Timothy Sutherland, "SunTrust"
- Contributions:619
I have excellent credit, no debt, 20% down, 30% DTI, $480k loan amount, 30 day closing...
The rates I got were:
5% @ 1 point
4.875% @ 1.5 point
4.75% @ 2.135 %
ouch!
assuming this isn't a condo; $480k is agency high-balance in San Diego.
rates aren't as low today as they've been the last couple of weeks but still 1 point would get you 4.75% today.
It's not hard to let the customer know where rates are; I just pop an email blast out each day with that day's rates on it.
The rates I got were:
5% @ 1 point
4.875% @ 1.5 point
4.75% @ 2.135 %
ouch!
assuming this isn't a condo; $480k is agency high-balance in San Diego.
rates aren't as low today as they've been the last couple of weeks but still 1 point would get you 4.75% today.
It's not hard to let the customer know where rates are; I just pop an email blast out each day with that day's rates on it.
- Pasadenan
- Contributions:21466
Anytime soon?
Is 7 months after the question was asked soon enough?
Is 7 months after the question was asked soon enough?
- Charlottesville Real Estate, "Charles McDonald"
- Contributions:230
Are you kidding?
Rates are so low, it is unbelievable!
Rates are so low, it is unbelievable!
What is your opinion regarding current interest rates?
Note: Please use your crystal ball when answering this question. Thanks!
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