Interest rates

[Anonymous]

If I look online at a search engine and enter correctly my purchase price, DP, loan amount, credit score and zip code and I filter to APR and no points, are these results reliable or accurate? It’s saying 5.6 or 5.7 for 30y.

[Anonymous]

Just locked in 5.25 30yr

[Anonymous]

PP - where are you getting 5.25?

[Anonymous]

Anonymous wrote:Just locked in 5.25 30yr

what was the loan amount?

[Anonymous]

Anonymous wrote:Just locked in 5.25 30yr

Please share bank/lenders name

[Anonymous]

I was quoted 6.25 earlier this week for a 30 year. Curious where you got 5.25.

[Anonymous]

Anonymous wrote:If I look online at a search engine and enter correctly my purchase price, DP, loan amount, credit score and zip code and I filter to APR and no points, are these results reliable or accurate? It’s saying 5.6 or 5.7 for 30y.

IME they are helpful as a rough guide but the rate you can get could be higher or maybe lower. Check Amerisave-- when last I refinanced they were the best rate and were willing to tell you exactly what rate they were offering, which most online lenders weren't, (but the downside was that you can't lock until you clear underwriting).

[Anonymous]

I see those lower rate estimates on random websites through obscure lenders, but don't know what to make of them because I've never heard of the lenders, they aren't major/known banks.

[Anonymous]

For instance, running our numbers in Nerdwallet ($500k-ish mortgage, excellent credit, 40% down), I see rates like 5.5-5.6% from these lenders which I'm unfamiliar with:

Owning.com
Better.com
Farmers Bank of Kansas
BNC National Bank Mortgage Lenders

[Anonymous]

Often the lower rates involve points

[Anonymous]

Anonymous wrote:Just locked in 5.25 30yr

This was likely builder assisted (i.e., they helped buy down points, or else the buyer assumed the construction loan). For example:

https://www.coldwellbanker.com/va/arlington/2728-n-edison-st/lid-P00800000GAiWhPKcuSdoLZmcingc1qYxsBCsl9Z

[Anonymous]

I used zillow mortgage to find rates for two refis a couple years back, and the rates I got were generally accurate. Sometimes one of the lenders would have hidden fees, but I definitely was able to find rates/fees that matched exactly what I ended up with. The caveat is that rates can change frequently, even multiple times per day, so if you see a rate you like, you need to act on it at that exact moment.

[Anonymous]

Curious if folks have used OwnUp? They compare a bunch of different rates for you.

My brother used them and got a good rate. Though the lender they got was kind of disorganized and stressful to work with.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just locked in 5.25 30yr

This was likely builder assisted (i.e., they helped buy down points, or else the buyer assumed the construction loan). For example:

https://www.coldwellbanker.com/va/arlington/2728-n-edison-st/lid-P00800000GAiWhPKcuSdoLZmcingc1qYxsBCsl9Z

I guess we should congratulate that PP on the purchase of their new home from BeaconCrest.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just locked in 5.25 30yr

This was likely builder assisted (i.e., they helped buy down points, or else the buyer assumed the construction loan). For example:

https://www.coldwellbanker.com/va/arlington/2728-n-edison-st/lid-P00800000GAiWhPKcuSdoLZmcingc1qYxsBCsl9Z

I guess we should congratulate that PP on the purchase of their new home from BeaconCrest.

Heck, 5.25% for a new build sounds pretty nice. Just hard to get a read on any builder. All I've read of BeaconCrest online is bad, but its entirely innuendo. Nothing specific. Like do they use too small timber in framing or something?