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Old 02-28-2008, 12:55 PM
 
Location: Earth
67 posts, read 183,238 times
Reputation: 37

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Hi guys.
I got an unbelievable interest rate but I wanted to see if thats normal or do others have lower?.....just want to educate myself.


I was paying 6.2% fixed for 15yrs but a year later I re-did my loan and its now 4.875% fixed for 15yrs.

Is that good or have you guys/gals seen lower?
typical?
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Old 02-28-2008, 01:13 PM
 
372 posts, read 761,122 times
Reputation: 126
I closed last week on a refi for 30 years at 4.875% fixed, for my personal residence. I had to pay two points, which worked out when I considered how long I anticipate holding the property, and that I don't plan on paying down early with that low of a rate.

For an investment property, I'm in the process of closing on a 30 year 5.75% for a non owner occ. duplex.

A buddy of mine in the NY metro area just closed on a 30 year 5.325% for his condo with no points.

Last edited by DasNootz; 02-28-2008 at 01:47 PM..
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Old 02-28-2008, 01:43 PM
 
Location: New York City
1,836 posts, read 2,834,586 times
Reputation: 378
Quote:
Originally Posted by DasNootz View Post
A buddy of mine in the NY metro area just closed on a 30 year 5.325% for his condo with no points.
fixed? what bank? was it 20% down?
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Old 02-28-2008, 01:46 PM
 
372 posts, read 761,122 times
Reputation: 126
It was fixed, and I believe he had 20% down. I believe he went through Citibank.

He just closed on it, and I think he locked in over a month ago.
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Old 02-28-2008, 02:13 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,101,195 times
Reputation: 1008
5.375% could've been locked in like 3weeks ago.

Today it's around 5.5%-5.625%

Last edited by renriq02; 02-28-2008 at 02:49 PM..
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Old 02-28-2008, 02:35 PM
 
Location: Hillsborough, NJ
514 posts, read 1,471,975 times
Reputation: 387
5.375%, no points, closing tomorrow.
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Old 02-28-2008, 03:37 PM
 
831 posts, read 1,307,686 times
Reputation: 2353
We just locked in and we got 6.0%. We filed brankruptcy less that a year ago. We have to wait to close until it has been 1 yr and 1 day from our discharged date. We will close the end of April. We only had to put 4% down. Seller is paying 100% of our closing costs. I guess not to bad with our credit history.
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Old 02-28-2008, 03:39 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,101,195 times
Reputation: 1008
yea with FHA you can do 1yr from chapter 13 discharged...and get a 5.5% rate. (5.5 today) it was like 5.875-6 yesterday
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Old 02-29-2008, 10:05 AM
 
29 posts, read 130,247 times
Reputation: 28
Quote:
Originally Posted by Sheed View Post
Hi guys.
I got an unbelievable interest rate but I wanted to see if thats normal or do others have lower?.....just want to educate myself.


I was paying 6.2% fixed for 15yrs but a year later I re-did my loan and its now 4.875% fixed for 15yrs.

Is that good or have you guys/gals seen lower?
typical?
Can you please let us know who the lender was ?
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Old 02-29-2008, 10:08 AM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,101,195 times
Reputation: 1008
current rates for today are 4.875% on a 15yr fixed
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