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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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******* Interest Rates
I was hoping they would dip lower... but they didnt and they are coming back up.
Oh well... looks like I will be sticking with my original application with Chase. 5.75% with 0 points and 0 lender fees.
I was hoping to get 5.25% or lower. They went down as far as 5.375... but didn't go further down. Now they are coming back up.
Maybe I will get lucky next week when I have a signed contract in my hand... i can negotiate with more banks.
Dammit! 
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Posted 9/8/05 11:18 AM  |
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danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name:
Scott
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Re: ******* Interest Rates
You have a while to lock in.....Who knows what the rates are going to be when it comes around the time for you to close
Scott
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| Posted 9/8/05 11:45 AM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: ******* Interest Rates
Posted by danielleandscott
You have a while to lock in.....Who knows what the rates are going to be when it comes around the time for you to close
Scott
Yeah but I want to make a decision in the next two weeks. Here is my scenario.
I originally started my Chase process on July 20th when I almost bought a house in Holtsville. Had 5.75% 90 day rate lock.
Well when that deal fell through... and I found this house... I can still use my old chase aplication cause my rate is good till October 20th.
Now the decision is... at some point I have to decide if I am going to go with Chase. I don't want to give Chase my contracts to "start the process" and then screw them over and back out. Thats not right.
So i can wait it out a little bit... but I have to make some sort of decision by the end of the month. I can extend the rate with Chase for $790 buks for 30 days which isn't too big a deal.
So I am in a good situation. I have the ability to wait for something good to pop up. If nothing good happens and rates continue to rise... I can fall back on my 5.75% with Chase.
We'll see. I am watching the rates closely.... and not liking what I am seeing.
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| Posted 9/8/05 12:01 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: ******* Interest Rates
Posted by danielleandscott
You have a while to lock in.....Who knows what the rates are going to be when it comes around the time for you to close
Scott
all the more reason for him to lock in now at a lower rate. he said they're slowly creeping up.,..why wait??? 
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| Posted 9/8/05 12:04 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: ******* Interest Rates
Posted by MrsERod
Posted by danielleandscott
You have a while to lock in.....Who knows what the rates are going to be when it comes around the time for you to close
Scott
all the more reason for him to lock in now at a lower rate. he said they're slowly creeping up.,..why wait???
The lenders with these lower rates have lending fees (between $2000-4000 buks).
The rates aren't low enough where I can justify that much extra at closing to get a couple buks off a month.
My chase application has ZERO lending fees.
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| Posted 9/8/05 12:10 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: ******* Interest Rates
And the lenders that have lower rates with zero lending fees... require a signed contract to lock.
So I have to wait it out.
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| Posted 9/8/05 12:11 PM |
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danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name:
Scott
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Re: ******* Interest Rates
We locked in for 30 days.....I never heard of locking in for 890 days. Is that a typical thing?
Scott
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| Posted 9/8/05 1:29 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: ******* Interest Rates
I have a 90 day lock. Yeah they normally don't offer them... but you have to negotiate and haggle with the brokers.
When I bought the 2br co-op... i had a 75 day lock.
Chase wants to keep me as a customer since my current mortgage is with them... so they are trying to go above and beyond. 
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| Posted 9/8/05 1:36 PM |
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danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name:
Scott
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Re: ******* Interest Rates
I thought 60 days was the most offered. Thats good that they are offering you that
Scott
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| Posted 9/8/05 2:19 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: ******* Interest Rates
Chase only wanted to give me 60 days... and I was like F-that get your supervisor on the phone and give me 90. 
I am a current customer... so make me WANT to stay with you. 
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| Posted 9/8/05 3:52 PM |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: ******* Interest Rates
I have a 90 days as well.
Not locked in yet but should happen within the week.
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| Posted 9/8/05 4:18 PM |
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MommyofG
just the girls
Member since 5/05 9461 total posts
Name:
Janice
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Re: ******* Interest Rates
Rich, for a first time buyer of a house I think that rate is pretty good the 5.75- lock in- they are most likely just going to go up and if they do come down re-fi for the lower rate and lock in there too! GL!!
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| Posted 9/8/05 7:55 PM |
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