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Old 09-21-2011, 03:41 PM
 
42 posts, read 158,018 times
Reputation: 43

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we are getting 4.25% 4.29%apr 30 year through td. good credit, 20ish percent equity.
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Old 09-21-2011, 04:54 PM
 
4,982 posts, read 12,660,503 times
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Quote:
Originally Posted by TimtheGuy View Post
fyi-there are way to many variables for people to just throw rates out there to compare.
to reiterate unless we know:

FICO
LTV
term of loan
type of loan
rate/term or cash out
loan amount
total lender costs

there is no way to compare apples to apples
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Old 09-21-2011, 07:09 PM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,958 posts, read 20,263,888 times
Reputation: 6420
My favorite mortgage broker no longer sends out rate sheets. He showed me why. There is a matrix of about 25 variables that each individual and property have to fit into. The range (at the time he showed me) had a spread of almost 2.75% between the lowest and highest rate.

Without knowing all of the circumstances of the OP's situation, it would be impossible to judge whether his loan rate is good or bad, but as someone has posted, if it's under 4.5%, one hasn't seen such cheap money before on mortgages since the '50s
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Old 09-21-2011, 08:22 PM
 
571 posts, read 1,402,809 times
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I didn't realize that I was asking such a complex question. It appears, based on what others are saying here, that the rate is decent. Do you think the Fed's action today will result in even lower rates????
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Old 09-21-2011, 09:00 PM
 
Location: MID ATLANTIC
8,206 posts, read 20,316,560 times
Reputation: 9467
Quote:
Originally Posted by TimtheGuy View Post
fyi-there are way to many variables for people to just throw rates out there to compare.
Couldn't have said it better!

Our price sheet (rate sheet) has the top third of a legal page taken up by a grid that shows the fixed rates. The bottom 2/3's is nothing but adjustments to those rates. Some of those adjustments include, state, property type, occupancy type, credit score, loan to value, purpose of loan, size of loan, length of lock, not to mention investor. The days of just throwing out a generic rate are long, long, gone.
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Old 09-22-2011, 02:48 PM
 
5,507 posts, read 9,674,229 times
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We just locked in a 15 year conventional fixed at 3.25%. 800+ FICO/25% equity/primary home/credit union

Closing costs are a bit under 3%
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Old 09-22-2011, 06:00 PM
 
3,578 posts, read 6,313,224 times
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I locked in at 2.875% 7/1 Arm, no points, no lender fees.

Closing costs are rather high in Florida because of county/state taxes plus title insurance and appraisal.

So on a $350k refinanced loan closing cost it was around $4300 ($2100 alone in state/county taxes which are non negogiatable).
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