The False Myths of Mortgage

[DDWH]

so.........................I guess 5% locked is a good deal then?

[bparker]

lol i read every single one of his posts..

knowlege/advice is a good thing..

I took a traditional 30yr fixed @ 5.25% I am not going to jack with that..

Was my first house too

[Adam in CO]

Originally Posted by bparker

lol i read every single one of his posts..

knowlege/advice is a good thing..

I took a traditional 30yr fixed @ 5.25% I am not going to jack with that..

Was my first house too

That is a good idea, emergenices aside. I think we nailed down 4.875 on our OO prop a few years back.

[Adam in CO]

Originally Posted by DDWH

so.........................I guess 5% locked is a good deal then?

Yup. If that's a 30 year rate I wouldn't screw with it.

[SnakeH2]

Adam, Can you view current rates in the San Antonio area? I got a qoute yesterday at 5.625 for a 30 year fixed. I'm getting near a 30 lock period, but since it's new construction I want to be sure on completion.

I know the trend looks flat or downward over the next few weeks, so I'm not real worried right now.

Snake

[Adam in CO]

Originally Posted by SnakeH2

Adam, Can you view current rates in the San Antonio area? I got a qoute yesterday at 5.625 for a 30 year fixed. I'm getting near a 30 lock period, but since it's new construction I want to be sure on completion.

I know the trend looks flat or downward over the next few weeks, so I'm not real worried right now.

Snake

Snake,

I am a national charter and do write paper in TX, so yes. 5.625 on a 30yr with a 30 day lock is a good deal. Depending on closing costs, impounds, etc., I would probably take it.

[Adam in CO]

Always feel free to ask questions. I would prefer people in general get good data so they can make informed decisions.

[SnakeH2]

Thanks

Closing costs...that's a fun one to sift through. I know most the costs are BS, and thankfully, my broker acknowledges that.

[Adam in CO]

Originally Posted by SnakeH2

Thanks

Closing costs...that's a fun one to sift through. I know most the costs are BS, and thankfully, my broker acknowledges that.

That's good. A major part of the job is to keep the title, lender, appraiser hands out of your pockets. Gotta watch out for every one of clients' dollars or we wouldn't be doing our jobs.