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Old 08-11-2020, 11:35 AM
 
Location: Everywhere and no where
1,108 posts, read 1,374,537 times
Reputation: 1996

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Spoke with a few mortgage lenders and none of them can touch 2.5%, no points, for 30 years, conventional loan.

Freddie Mac shows 30 year fixed to be around 2.88 percent which is pretty close to what I'm seeing as well.

Would love to know who is getting much lower than 2.75%...where / how... PM me if it's not allowed to be shared publicly.
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Old 08-11-2020, 12:07 PM
 
3,805 posts, read 9,286,485 times
Reputation: 4978
Quote:
Originally Posted by AndroidAZ View Post
That is incredible. Can you please share the lender or loan company you are getting such amazing rates with???

How did you get such an incredible low rate?

Frankly, when I see people post such amazing rates, it makes me angry...because I call multiple lenders and none of them can touch this rate...it really makes me wonder how it is possible.

Please share details with us.
I'm the lender. The call is coming from inside the house!

(not a solicitation)
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Old 08-11-2020, 12:46 PM
 
Location: South Carolina
381 posts, read 378,165 times
Reputation: 860
Quote:
Originally Posted by Pfhtex View Post
I'm the lender. The call is coming from inside the house!

(not a solicitation)
Um. I'd be careful. I don't see an APR posted with those rates or any of the other small print required.
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Old 08-11-2020, 04:52 PM
 
3,805 posts, read 9,286,485 times
Reputation: 4978
Well if this website wasn't straight out of the '90s I'd shrink and post an LE!

Legit: 58% LTV, 765 fico, 2.500% rate, 2.564% APR.
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Old 08-11-2020, 11:47 PM
 
135 posts, read 164,506 times
Reputation: 217
I was just quoted 2.5% 30yr over the weekend. The APR came to 2.63. Not a first time home buyer. 800+FICO, solid W2 income.
This was through a mortgage broker and the servicer was Pennymac.
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Old 08-12-2020, 06:58 AM
 
Location: South Carolina
381 posts, read 378,165 times
Reputation: 860
Quote:
Originally Posted by Pfhtex View Post
Well if this website wasn't straight out of the '90s I'd shrink and post an LE!

Legit: 58% LTV, 765 fico, 2.500% rate, 2.564% APR.
I don't care personally but you know, that pesky CFPB.
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Old 08-13-2020, 02:23 PM
 
3 posts, read 2,197 times
Reputation: 11
Hello, Sorry about not posting back earlier. So I think most lenders are capped out at 2.70 in order to make any money even after UWM conquest. I figured this after getting quotes and talking with about 6 lenders including 2 brokers. And I think I'm getting a hang of it now. I still don't have much knowledge about the closing day but that is for another day.

Thank you and happy shopping.

PS: The updated quotes that I received still caps at 2.75 with about $500 lender credit and no fees.
jmw51882 and pfhtex, you guys are getting a great deal. If you don't mind, please PM me your boker/lender info. I may venture out.
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Old 08-13-2020, 05:35 PM
 
3,805 posts, read 9,286,485 times
Reputation: 4978
Quote:
Originally Posted by saggii View Post
Hello, Sorry about not posting back earlier. So I think most lenders are capped out at 2.70 in order to make any money even after UWM conquest. I figured this after getting quotes and talking with about 6 lenders including 2 brokers. And I think I'm getting a hang of it now. I still don't have much knowledge about the closing day but that is for another day.

Thank you and happy shopping.

PS: The updated quotes that I received still caps at 2.75 with about $500 lender credit and no fees.
jmw51882 and pfhtex, you guys are getting a great deal. If you don't mind, please PM me your boker/lender info. I may venture out.
All I can tell you about my mortgage guy is that he's really smart and really, really good looking.
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Old 08-24-2020, 12:33 AM
 
203 posts, read 250,595 times
Reputation: 69
Quote:
Originally Posted by pfhtex View Post
all i can tell you about my mortgage guy is that he's really smart and really, really good looking.

:d
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