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Old 03-18-2010, 01:58 AM
 
Location: Spring, TX
847 posts, read 1,752,213 times
Reputation: 651

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last i checked,,,our rate is right at 5%..we haven't closed on our house yet and i'm hoping it stays in that range....
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Old 03-18-2010, 06:37 AM
 
Location: houston
439 posts, read 1,242,458 times
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I just closed at 5%. I'd definitely go for it if you're already under 5%. It's doubtful it'll go much lower than that.
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Old 03-18-2010, 08:01 AM
 
377 posts, read 1,346,401 times
Reputation: 219
Did you get a GFE ? Whats the TOTAL of all of the items in the 800 series (whatever junk its called ). Also, how much is your financing ? and down payment ?


Quote:
Originally Posted by pdouglas View Post
1% loan origination fee

4.93% APR
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Old 03-18-2010, 09:54 AM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,739,494 times
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Actually the origination fee is a point. You can get loans with no origination fee if you pay a slightly higher interest rate.
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Old 03-18-2010, 11:08 AM
 
739 posts, read 2,136,463 times
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Quote:
Originally Posted by chris_ut View Post
Actually the origination fee is a point. You can get loans with no origination fee if you pay a slightly higher interest rate.

The loan amount is $288K. My loan origniation fee is 1% plus I'm paying 0.8% discount point for the rate. My totla loan orignation fee and discount points is $5248.96.

Does this sound about right?
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Old 03-18-2010, 12:04 PM
 
Location: Fulshear
1,326 posts, read 3,452,564 times
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Quote:
Originally Posted by pdouglas View Post
The loan amount is $288K. My loan origniation fee is 1% plus I'm paying 0.8% discount point for the rate. My totla loan orignation fee and discount points is $5248.96.

Does this sound about right?
OK, now it makes sense why your rate is so low.
You're paying almost a full percentage point to get that rate.
Otherwise your rate would be over 5%.
I can't believe the rates are still dropping.
We closed at 5.5% last July and believed the rate would only go up from there.
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Old 03-18-2010, 12:10 PM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,739,494 times
Reputation: 4191
Sounds about right. This is the guy I got my last loan from, shoot him an email and ask for a quote then you will know if your current quote is competitive: josh.brown@sentemortgage.com
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Old 03-18-2010, 12:59 PM
 
Location: SE Texas on the Coast
27 posts, read 137,076 times
Reputation: 13
Do y'all know of anyone who does or might be interested in doing 3rd party financing on a real estate transaction (mortgage) without exorbitant rates? Thanks in advance, no flaming posts, please.
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Old 03-18-2010, 06:57 PM
 
116 posts, read 280,788 times
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I know a lot of people - but the rate is going to be close to 10%. If that's too high, go with a bank.
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Old 03-18-2010, 07:19 PM
 
201 posts, read 915,047 times
Reputation: 112
We closed on our house a few months ago at 4.9%. I doubt it will go much lower than 4.75%, and I wouldn't agonize over it much anyways. On a $200K loan, 0.1% is like $10 per month. A dollar is a dollar, but you'll blow that much just on a Starbucks double-half-mini-extrafoam-underwhip-machiachimoco.
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