Mortgage Rates


#244

I can put you in contact with my buddy.


#245

I got 30 year fixed for 4.00% 4.0375% (got few discounts).

Rates are still pretty decent. Inching up slowly but nowhere close to 5%.

BoFA is our primary banker but they never reached out to us till we called them to a wire transfer for EMD. The best they could offer after scrambling was 4.25% 4.2875%


#246

How come you guys/gals don’t like to use someone like my Tracie, an independent mortgage broker who can find you the best lender or best appropriate program that fits your financial situation/profile? Her rates via Googain are the best probably around.

The recent San Bruno loan I got was 3.875%, no cost/no fee 7 years fixed, non confirming, investment home loan. I figured why pay the premium for the 30 years fixed when I am going to most likely sell the place within 7 years…


#247

Can I have Tracie’s contact?


#248

510-828-4988 (Yes, very, very lucky phone number…) Just say a friend from a RE website sent you…


#249

Ok thanks! :smile:


#250

Hi, can you please share the contact for this rate?


#251

What kind of closing costs?


#252

Yeah, 4.00% seems amazing. Was the DTI really low? What I learned is jumbo mortgages aren’t Fannie/Freddie, so every lender has their own criteria based on their investors. Jumbo rates are actually lower than conforming rates. Also, jumbo rates aren’t the same nationally. They are higher here than in CA. The title company told me they are seeing 5% rates now on closing docs.


#253

Could you please share the contact person for this? Also was this a no cost loan?


#254

Just one month before, my friend closed a cash out refi (from 580k to 740k) with BOFA for 4% thirty year fixed. Previously, I have got cash out refi 500k for rental property at 4.5%.

Bottom line : Yield curve is shrinking and 10 year note is not moving up, scary situation for economy.


#255

Real estate prices maybe leveling of here too. Still up 12% y/y. But the anti tourist movement and Prop 10 are scary.


#256

Which bank gives 4% 30 year fixed rate? Do you need to pay any point?


#257

Wells fargo might, but for primary.


#258

There could be a limit on number of financed properties. Hope you can qualify


#259

Unfortunately I cant share the details except that the lender is WF. We got discount for relationship (3 mortgages transactions with same lender and loan officer) and for moving large amount into a new banking relationship(there are discount tiers based on amount). Part of the large amount was used for down payment.

DTI is low for us. No points. Nothing special in closing costs.


#260

No points, contact bank of america


#261

No point 4% 30 year fixed for rental?


#262

Great. I guess you need to transfer a large stock portfolio to them to get the discount.

With the plummeting refinance volume, I hope more banks will get competive. Not sure whether these loans will be sold to Fannie Mae, Freddie Mae, or just stay on bank’s book as portfolio loan.


#263

Usually you will need to hold $250,000 - $500,000 in assets with BofA or MerrillEdge or a related company.