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Hi, We have gotten an offer from our Credit Union (UFCU) for 4.5% 30 years fixed mortgage interest rate with 1 point. We are currently building a new home, and have prepared 20% down. We would like to know if any banks out there would offer us better than this such as no point or cover part of the closing cost, or even match.
I wish I knew what the rate was in Southern Utah area with a 740 credit, 50% down and 30 year fixed, not a refinance. Someone on here once put a map up of the United States and you could hover over the state and see what the rate was. I cant find the thread that had that in it. Is anyone familiar with what that link is.
The one question to ask, can you close in 30 days or less for a refinance? Why on earth would you pay for a 60 day lock to close a refi? Their systems are on over-load if they say no to 30 days.
I couldnt believe what i read with this post, you were offered a 30 year fixed rate loan at 4.5% and that isnt good enough? Amazing!!!! That is a fantastic deal. Move forward with this offer and then forget about your mortgage as you will be borrowing money for 30 years at 4.5% and after your tax deduction for the mortgage interest your net rate will be around 3%.
Some people get caught up in the "frenzy". There was a thread a bit ago from some one an quest to have a "perfect" credit score, why? They could not say...
I couldnt believe what i read with this post, you were offered a 30 year fixed rate loan at 4.5% and that isnt good enough? Amazing!!!! That is a fantastic deal. Move forward with this offer and then forget about your mortgage as you will be borrowing money for 30 years at 4.5% and after your tax deduction for the mortgage interest your net rate will be around 3%.
I couldnt believe what i read with this post, you were offered a 30 year fixed rate loan at 4.5% and that isnt good enough? Amazing!!!! That is a fantastic deal. Move forward with this offer and then forget about your mortgage as you will be borrowing money for 30 years at 4.5% and after your tax deduction for the mortgage interest your net rate will be around 3%.
It's not a matter of it not being good enough - it's a matter of shopping around for the best rate. What's wrong with that? Isn't that what every one of the mortgage professionals on these boards is always preaching?
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