The False Myths of Mortgage

[K9sH3]

Adam, being that I don't know ya. I am guessing that your a Mortgage broker? or you have to much idle time at work.
But that was great info either way, I like reading about that.

[DDWH]

so.........................I guess 5% locked is a good deal then?

[bparker]

lol i read every single one of his posts..

knowlege/advice is a good thing..

I took a traditional 30yr fixed @ 5.25% I am not going to jack with that..

Was my first house too

[Adam in CO]

Originally Posted by bparker

lol i read every single one of his posts..

knowlege/advice is a good thing..

I took a traditional 30yr fixed @ 5.25% I am not going to jack with that..

Was my first house too

That is a good idea, emergenices aside. I think we nailed down 4.875 on our OO prop a few years back.

[Adam in CO]

Originally Posted by DDWH

so.........................I guess 5% locked is a good deal then?

Yup. If that's a 30 year rate I wouldn't screw with it.

[SnakeH2]

Adam, Can you view current rates in the San Antonio area? I got a qoute yesterday at 5.625 for a 30 year fixed. I'm getting near a 30 lock period, but since it's new construction I want to be sure on completion.

I know the trend looks flat or downward over the next few weeks, so I'm not real worried right now.

Snake

[Adam in CO]

Originally Posted by SnakeH2

Adam, Can you view current rates in the San Antonio area? I got a qoute yesterday at 5.625 for a 30 year fixed. I'm getting near a 30 lock period, but since it's new construction I want to be sure on completion.

I know the trend looks flat or downward over the next few weeks, so I'm not real worried right now.

Snake

Snake,

I am a national charter and do write paper in TX, so yes. 5.625 on a 30yr with a 30 day lock is a good deal. Depending on closing costs, impounds, etc., I would probably take it.

[Adam in CO]

Always feel free to ask questions. I would prefer people in general get good data so they can make informed decisions.

[SnakeH2]

Thanks

Closing costs...that's a fun one to sift through. I know most the costs are BS, and thankfully, my broker acknowledges that.

[Adam in CO]

Originally Posted by K9sH3

Adam, being that I don't know ya. I am guessing that your a Mortgage broker? or you have to much idle time at work.
But that was great info either way, I like reading about that.

You nailed it. Not really slow, though. I just happen to be privvy to infomation njot available to the GP, so I try to share everything I can.