Community Forums > General Chat

Mortgage Rates are DROPPING. I am a Loan Officer - Any Questions?

<< < (3/5) > >>

BeautifulShy:

--- Quote from: BlackNMild2k1 on March 10, 2020, 10:26:44 PM ---You're going to spend money to upgrade someone else's property to the way you like it, and expect them to allow you to take it out of the rent....?

I mean, if they allow it.... I guess.
But once it's upgraded, I'm sure he'll just up the rent since it's a nicer place now. But who knows....

--- End quote ---
There has been an agreement.

Adrock:

--- Quote from: BeautifulShy on March 10, 2020, 11:40:50 PM ---There has been an agreement.
--- End quote ---
I hope you got it in writing.

nickmitch:
I recently went back to school, so I basically decided on putting off even thinking of buying a house for another 4 years. :^/

BlackNMild2k1:
Feds dropped their interest rates to 0% on Sunday, which means our HELOC interest rates just went from 2.74% down to 1.74% for the first 12 Months.

If you got debt to consolidate, and you have a home with equity, this may be the time to look into a Home Equity Line. Rates can't get much lower than this if they can go any lower at all.

this is 1.5% in rate drops over the last 2 weeks on HELOC's, that's insane. I've been extremeley busy inputting application for these for the past 2+ weeks....

Our promotion on these end at the end of the month. So if you know someone who needs it, tell them to act fast.

BlackNMild2k1:
If you own a home, and you didn't shop for a rate this past week (or the 2-3 weeks prior).... you may have missed your window... for now.

It may not be too late. Go to a wholesale broker. Get a Loan Estimate. Take it to a BIG Bank and request a price match.

most of the brokers have overflowed their capacity and now have multi-month turn times (some reporting to have 120-160 days to close).
I can't speak for everyone, by my bank has not done that, and still has reasonable close times.

don't miss out. although rates are rising, they will stay relatively low (compared to history) for a while.

Navigation

[0] Message Index

[#] Next page

[*] Previous page