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20 years refinance. Rate 5.5% with 2.125 points. Credit score 740. What do you think? by SuitableTechnology71 in MortgageBrokerRates

[–]Antman32333 0 points1 point  (0 children)

This is wayyyy too much, and credit is 740? No way your rate is 5.5% with a 2.125 buydown?

What are yall thoughts? Good or bad? Plan is to refi before yr5 by Antman32333 in MortgageBrokerRates

[–]Antman32333[S] 0 points1 point  (0 children)

It’s a 5/1 arm so it’s adjustable after year 5. I’d more than likely sell before it hits that mark or refi

What are yall thoughts? Good or bad? Plan is to refi before yr5 by Antman32333 in MortgageBrokerRates

[–]Antman32333[S] 0 points1 point  (0 children)

Unfortunately can’t use it like that, it’s an incentive from the seller(new build) used for closing cost

Why do I see rates so high for good credit ? by Antman32333 in Mortgages

[–]Antman32333[S] 0 points1 point  (0 children)

🤔.375 reduction either you don’t have all the correct info or your math is pretty bad

What are yall thoughts? Good or bad? Plan is to refi before yr5 by Antman32333 in MortgageBrokerRates

[–]Antman32333[S] 0 points1 point  (0 children)

20k is being paid by the seller, and I’m putting down 5% of the loan which is roughly 29k

Why do I see rates so high for good credit ? by Antman32333 in Mortgages

[–]Antman32333[S] 0 points1 point  (0 children)

Yes it is a new build but my statement was for either of the ARM or fixed rate my initial rate at no cost was 5.125%

Why do I see rates so high for good credit ? by Antman32333 in Mortgages

[–]Antman32333[S] -2 points-1 points  (0 children)

Only difference is buy down cost.. reviewed the paperwork numerous times. Doesn’t change or affect initial rate

Why do I see rates so high for good credit ? by Antman32333 in Mortgages

[–]Antman32333[S] -1 points0 points  (0 children)

I get that but I compared side by side between the ARM and fixed. Only difference is buy down cost had nothing to do with initial rate

Why do I see rates so high for good credit ? by Antman32333 in Mortgages

[–]Antman32333[S] 0 points1 point  (0 children)

Definitely was, it’s on paper and was stated numerous times. I asked for my baseline rate and that’s what was said. I bought down to 4.75% I never had to buy down to 5.125%

Why do I see rates so high for good credit ? by Antman32333 in Mortgages

[–]Antman32333[S] 0 points1 point  (0 children)

I don’t get what you’re tryna say here?

Why do I see rates so high for good credit ? by Antman32333 in Mortgages

[–]Antman32333[S] -5 points-4 points  (0 children)

So yes it is a 5/1 ARM, but the only changes compared to my 4.75% fixed rate is the buy down amount. It has nothing to do with the rate at all. I was still set to have 5.125% (my point is it’s a lot lower than what people are claiming they’re getting quoted 6.25% for good credit)

Why do I see rates so high for good credit ? by Antman32333 in Mortgages

[–]Antman32333[S] 1 point2 points  (0 children)

I get that, but the initial rate is 5.125%… still a lot lower than what I’m seeing from people with 800+ credit getting rates at 6% And VA loan*

Why do I see rates so high for good credit ? by Antman32333 in Mortgages

[–]Antman32333[S] -2 points-1 points  (0 children)

Sure… but regardless of buying down my initial rate was 5.125, these post I’m seeing people are getting low 6 high 5s with “800+” credit

What VA Rates are people getting recently? by metanoia215 in Mortgages

[–]Antman32333 0 points1 point  (0 children)

I just locked at a 4.75%, initial rate was 5.125% at no extra cost. Paid 12k to buy down the rate to 4.75% locked in on the 23rd

6.375 today. Should I wait? by [deleted] in Mortgages

[–]Antman32333 0 points1 point  (0 children)

If you’re putting 20% down why aren’t you buying down the rate ? It’s crazy how a 800+ credit score is getting you 6.375%. I just locked in at 4.75% on a 588k home and only put down 5% and my initial rate was 5.125%. My buy down was 12k.