mortgage hawaii: Rates~ Too Good To Be True if you can't Renogotiate your Lock?
- 12/28/08 08:16 PM
If you have your Loan Officer (LO) lock in an interest rate on your approved loan and find out that rates dropped another .75% from 5.5% to 4.75% would you urge he/she to change banks to get the lower rate? Are you aware of Rate Lock Renegotiation (RENO) and is your Mortgage Broker/Banker proactively looking to save you money by renogotiating your rate? This applies to VA and Conventional Loans. As a mortgage broker this recent drop in rates has been both a blessing and a challenge. Fortunately, refinance applications have increased substantially, yet although rates have hit all time lows (4.375% with no points 12.17.08 and … (2 comments)
mortgage hawaii: VA HOME LOAN TOOL - What can a e5, e7 or O3 afford in Hawaii?
- 10/03/08 11:41 AM
VA HOME LOAN TOOL This is a tool that helps identify the maximum (conservative 40% dti if debt is low) loan amount that each rank can qualify for in Hawaii and Alaska. This tool uses Basic Housing Allowance (BAH) only and does not factor in COLA or BAS (if it did the loan amounts would be much higher). You can always contact me www.directnationallending.com to get prequalified because approvals do vary based on credit worthiness and residual income as well. Rates are hovering around 5.875% at Par and should stay at or below 6% until the election. The VA homeloan still … (2 comments)
mortgage hawaii: Ratewatch October 08
- 10/03/08 11:20 AM
Friday October 3, 2008 Aloha Friday! I will be available by telephone and e-mail all weekend for your mortgage needs! I look forward to your call. "The only function of economic forecasting is to make astrology look respectable." John Kenneth Galbraith Below I have rates (on average) from the top 5 National and Local Banks; I recommend floating while we await the reaction to the rescue bill that was voted on favorably this afternoon: 5.875% 30 year Fixed Rate at Par 5.625% 5/1 ARM 5.875% VA 30 year Fixed Rate at Par (with a .125% rebate … (0 comments)
If you have your Loan Officer (LO) lock in an interest rate on your approved loan and find out that rates dropped another .75% from 5.5% to 4.75% would you urge he/she to change banks to get the lower rate?
;)
;)
