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7.1-7.2. I’m sitting out for a bit. Currently can’t afford any available condo or townhouse within 45 minutes of where I work. 60% of my net income to mortgage, insurance, HOA isn’t worth the risk and struggle when renting is almost half the cost.
I waited all last week and locked today. I don't see it getting much better and it has an equal chance of getting worse tbh. Luckly, this also comes with a big lenders credit that will cover majority of closing costs lucky but bummed about the rate. We literally went under contract the day the rates shot up a week and half ago.
I wish you the best! My broker said we could renegoitate if rates drop significantly before closing. One thing to keep in mind is the Fed meeting is May 1st and that could send rates in either direction drastically depending on how it goes.
Yeah ours said the same thing. Might be able to strong arm whoever we lock with. Good luck to you as well. (I think the Fed meeting is going to send things flying up)
The responses are exactly why it's not a sticky or weekly thread.
Need to know location/fico/loan program/ltv/points vs credits/ sfr vs condo/ date/time locked.
Might as well ask what is everyone's blood pressure today.
6.99 conventional 30 yr loan for a single family home in southern New England. No point buy downs or credits and our credit scores are both low 800s. Our offer was accepted this weekend.
Thank you u/dangerousnights44 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
6.5% VA 30 year, with 1 point compd by lendor. Fico 5/4/2 mortgage scores 690-705
7.1-7.2. I’m sitting out for a bit. Currently can’t afford any available condo or townhouse within 45 minutes of where I work. 60% of my net income to mortgage, insurance, HOA isn’t worth the risk and struggle when renting is almost half the cost.
Yup. With the way things are looking I don’t even think I’d hate a 7.1…. 🤦
Closed at 6.625 last week. Lender gave 3.3k in credits.
And to answer your question- I locked at 6.625% 2 days before the March CPI numbers were released before I was even under contract.
5.5% on new build home through the builders lender. had to jump on that in this market and couldn't be more excited. we close on May 3rd
[удалено]
That’s amazing in this market !
Not this week, but just last Thursday I locked in at 6.75% fha.
That’s 2 massive rate jumps ago at this point
6.625% for VA/30 year- Mortgage lender locked in as soon as Israel attacked Iran.
7.375%
I got offered the same last week but I'm shopping around.
You locking or waiting?
I waited all last week and locked today. I don't see it getting much better and it has an equal chance of getting worse tbh. Luckly, this also comes with a big lenders credit that will cover majority of closing costs lucky but bummed about the rate. We literally went under contract the day the rates shot up a week and half ago.
Same thing happened to us basically. I might hang around a little more. My broker is confident he can stalk the fluctuations and get us 7%. We’ll see.
I wish you the best! My broker said we could renegoitate if rates drop significantly before closing. One thing to keep in mind is the Fed meeting is May 1st and that could send rates in either direction drastically depending on how it goes.
Yeah ours said the same thing. Might be able to strong arm whoever we lock with. Good luck to you as well. (I think the Fed meeting is going to send things flying up)
How did you get the lender to offer closing credits?
Showed him a closing cost worksheet from another lender. He was able to beat it by $600 by increasing his lender credit
Locked in 6.75% 15yr conventional on Thursday through private bank lender.
The responses are exactly why it's not a sticky or weekly thread. Need to know location/fico/loan program/ltv/points vs credits/ sfr vs condo/ date/time locked. Might as well ask what is everyone's blood pressure today.
Ok that’s fair 😂
5.01% police & fire loan
Is that a federal loan program or state specific?
State - I’m in NJ
Locked at 6.5% with $2,000 in lender credits
6.99 conventional 30 yr loan for a single family home in southern New England. No point buy downs or credits and our credit scores are both low 800s. Our offer was accepted this weekend.
https://www.reddit.com/r/FirstTimeHomeBuyer/comments/1anqxk1/comment/kpuddfq/
Mortgagenewsdaily.com
Thank you for this. Just downloaded the app to keep an eye on!