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Old 07-08-2016, 09:32 AM
 
Location: The Berk in Denver, CO USA
14,069 posts, read 20,431,104 times
Reputation: 22889

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Mortgage News Daily Widgets
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Old 07-08-2016, 12:45 PM
 
6 posts, read 6,611 times
Reputation: 16
Default Low rates are out there

Closed in December, 2.75% 15 yr fixed, 25% down through Citimortgage
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Old 07-08-2016, 04:24 PM
 
Location: Highlands Ranch, CO
556 posts, read 579,988 times
Reputation: 837
Quote:
Originally Posted by Timmyy View Post
Why is Quicken terrible? I have never had a problem with them.

I would say some of the bigger banks are terrible such as Wells Fargo.
I agree, when I had quicken they we're great. Also had a much better website than my current local lender.

You're not getting under 4 anymore unless you go 15 year mortgage.
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Old 07-08-2016, 05:36 PM
 
Location: In The Thin Air
12,302 posts, read 8,121,088 times
Reputation: 8944
Quote:
Originally Posted by guyatwork37 View Post
I agree, when I had quicken they we're great. Also had a much better website than my current local lender.

You're not getting under 4 anymore unless you go 15 year mortgage.
I closed in June 2015. Quicken has always been friendly and easy.
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Old 07-08-2016, 05:38 PM
 
Location: In The Thin Air
12,302 posts, read 8,121,088 times
Reputation: 8944
Quote:
Originally Posted by knjmcdonald View Post
Closed in December, 2.75% 15 yr fixed, 25% down through Citimortgage
You put a good chunk down with a lower term. Now is 2.75% the interest rate or the APR or both?
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Old 07-08-2016, 06:05 PM
 
Location: Just south of Denver since 1989
10,920 posts, read 29,446,381 times
Reputation: 7153
In real estate the note rate never equals the APR.

The following fees ARE generally included in the APR:

Points- both discount points and origination points. 1 point equals 1% of the loan amount.
Pre-paid interest- The interest paid from the date the loan closes to the end of the month. If you close on August 10th, you will pay 21 days of pre-paid interest.
Admin Fee
Loan-processing fee-
Underwriting fee-
Document-preparation fee-
Private mortgage-insurance
Escrow/Settlement fee

The following fees are SOMETIMES included in the APR:

Loan-application fee (not a normal fee in purchase loans)
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Old 07-08-2016, 06:13 PM
 
Location: In The Thin Air
12,302 posts, read 8,121,088 times
Reputation: 8944
Quote:
Originally Posted by 2bindenver View Post
In real estate the note rate never equals the APR.

The following fees ARE generally included in the APR:

Points- both discount points and origination points. 1 point equals 1% of the loan amount.
Pre-paid interest- The interest paid from the date the loan closes to the end of the month. If you close on August 10th, you will pay 21 days of pre-paid interest.
Admin Fee
Loan-processing fee-
Underwriting fee-
Document-preparation fee-
Private mortgage-insurance
Escrow/Settlement fee

The following fees are SOMETIMES included in the APR:

Loan-application fee (not a normal fee in purchase loans)
I know what APR is and contains. Sometimes the note rate is the same as the APR. In some of those cases the rate is higher to make it look like the mortgagor is not paying any closing costs.

I worked in the mortgage world a long time ago in a galaxy far far away. I worked a lot in foreclosure from the mid to late 90s. 50% of foreclosures that came through my desk were first payment defaults. Crazy.
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Old 07-11-2016, 01:14 PM
 
6,765 posts, read 1,408,480 times
Reputation: 16919
Looks like the Denver market is easing up a bit.

https://www.denverpost.com/2016/07/0...entory-denver/
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Old 07-11-2016, 02:44 PM
 
Location: Just south of Denver since 1989
10,920 posts, read 29,446,381 times
Reputation: 7153
Inventory may be up a bit - that does not equal market easing.

The increase is cyclical. Kids get done with school, parents want to move, they put the house on the market and see what happens. Most of them sell then buy. Some will rent, others will move to a new location.
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Old 07-11-2016, 02:50 PM
 
Location: Denver CO
21,231 posts, read 11,862,565 times
Reputation: 32299
subheader of the article:

Quote:
Prices continue to rise, with the median single-family home hitting $466,288
Not exactly easing, but perhaps people will be able to buy without a bidding war? Anecdotally, watching the Stapleton listings, I have seen a few price drops so not everything is selling immediately. But these were houses that were IMO overpriced, testing the market and the market said "no, we're crazy but we're not THAT crazy"
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