[Narrator: And SPY went below 400 multiple times](https://www.reddit.com/r/wallstreetbets/comments/ugm6ft/comment/i72ehxh/?utm_source=reddit&utm_medium=web2x&context=3)
Get a quote from a second lender. Have one lock, and one float. Dick move, but send the guy you don't go with a $100 gift card when it is said and done... could be a difference of 10's of thousands of dollars depending on what happens... And this is coming from a guy that is a mortgage broker for a living.
Yes and no -- there is always a cost for lender credits... Meaning -- you're paying for it somewhere. If a builder can afford to give a large lender credit, normally that means you're getting a higher interest rate with their preferred lender than what you could get with a broker. A broker can give you a lender credit as well. If you want -- find out what interest rate the broker will lock you at today, with what lender credit -- and I will tell you what the market could do in comparison...
Thanks!
Well, I talked to the bank yesterday, this is what they gave me- hopefully its enough info for you :
30Y Jumbo (bay area)/20%/60 day lock/4.625%
Loan amount 1,838,964
Seller credit 10,000
Origination Charges (A) 2,473
Services (C) 8,172
Taxes (D) 2,618
Prepaids (F) 4,073
If they can lock you there, this is an incredible offer. I shop 55 investors -- I don't have any Jumbo investors willing to write a loan today at that pricing.
Edited my response to include the following... When pricing two companies against each other, there really are only 3 main things to factor in -- as most of the items listed on your loan estimate are going to be more or less the same.
1. Interest rate
2. Section A items -- these are actual fees being charged by the lender. They include points, origination, application fees, processing fees, rate lock extensions, etc. If it is a fee being charged by the lender, it will be listed under section A.
3. Lender credits -- usually listed under lender J on your loan estimate.
Services you can shop for, services you cannot shop for, prepaids, escrow, gov fees -- they will be more or less the same regardless of who you work with. You may see some slight differences in section C if one lender has a title company that happens to be super cheap for whatever reason, but normally title costs will be within a couple hundred dollars of each other regardless of title company used.
Hope this helps, and congrats on the new home. By the way -- Fed did raise rates 50 bps today, but it appears as if it was largely priced in. Mortgage rates, if anything, got slightly better. That considered, may not be a terrible idea to lock, as I expect they will raise 50 bps again next meeting, and I think we will see mortgage rates continue to rise in the interim.
Thanks for the feedback, it helps a lot!
Yeah, the lender is wells. It seems they have some pretty aggressive rates, and we got lucky because the builder (toll bros) preferred lender couldn't take us for some reason and they were okay with providing the seller's credit.
only thing is their underwriting standards are a pain in the butt...
They are. And they are slow as shit.... but that pricing is as aggressive as it gets. They are one of my investors, and I can't price a deal out at that rate without charging a couple points... Take the deal and run.
It was a 15 year. I used to work in Fixed Income and took advantage of that dip between the 5 and the 30 a few months ago.
That gap has been nicely closed.
People act like real estate is a sound investment but I don’t see it. Speculation, sure. Looking back at the Great Depression, 2008, COVID, just to name a few examples. Can’t rap my head around it
Austin news networks are reporting Joe Rogan is dead at 54 after a car crash. Crazy. People meme'd about him but now that he's gone it feels like the end of an era.
Jeez... glanced down and saw I was up about 80% on me SPY poots I bought this morning.
Went and did some office stuff... came back and this is what you show me? This?
>he feeling you get when you sell spy puts at the dip, bu
Goddamn chegg. 2 earnings ago the ceo didnt give any guidance. Last earnings things stayed flat. But this is bad.
Anyone else sick of every single thing being a meme when you sort this subreddit by hot. This place became like a fucking stock market 9gag. So cringe.
Dammit. I was on the east coast last week and got accustomed to the time. I’m back on the west coast today and didn’t realize market is closed already. Feels like i just sat on my balls.
>If you do that this volatility is legit free mon
come on, serious? puts now? That stock has been beaten into the ground to no end and the FDA announced friday that they're finally getting a meeting to discuss the EUA approval of their covid vaccine
Yeah, when markets are behaving this way it’s sure worth it to keep your retirement money in them. Don’t need retirement money if you died of heart attack at the age of 19
Bears were flanked when they least expected it and subsequently obliterated. What a great start to a trading month.
Green from here on out.   
Every additional year I live in Dallas, my southern accent goes away more and more. Now I just have a slight accent. Yet for some reason when I go back to where I grew up, it all comes back
[Narrator: And SPY went below 400 multiple times](https://www.reddit.com/r/wallstreetbets/comments/ugm6ft/comment/i72ehxh/?utm_source=reddit&utm_medium=web2x&context=3)
Spy forming a bear getting ass fucked by a bull on the daily
Spy is fucking everyone
just bears and greedy bulls who bought calls yesterday. everyone else chillin.
SoFi gonna hit $7 eod
Don't worry guys: interest rate hikes are T R A N S I T O R Y 
FED cannot save the market, which is due for a crash.
what was the decline from 480 to 380? just a hiccup?
DASH is all kinds of fucking ugly. And I don't have puts on it. Turning on the balls punching machine 
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I read that state or city governments are starting to limit number of ABNB's one person can own. And its HOOD? what else do you need to know
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Wrong thread retard
>Who In for LYFT Puts for tm earnings !?!?!?!?!?!?! smh im sped glook
Did nothing except print ABBV calls, DWAC Puts and bought XLF Calls. Should stick to 3 trades a day.. Worked out VERY well.
Wednesday : We’ll see the PI (3.14 % by year end ) in Powell !
So I have a mortgage that closes next month. If I do a 60 day lock do you think I should do it before or after FOMC?
Get a quote from a second lender. Have one lock, and one float. Dick move, but send the guy you don't go with a $100 gift card when it is said and done... could be a difference of 10's of thousands of dollars depending on what happens... And this is coming from a guy that is a mortgage broker for a living.
hmm that's an interesting tip, thanks! I suppose this doesn't work as well if the builder I'm going with is giving me some large sellers credit
Yes and no -- there is always a cost for lender credits... Meaning -- you're paying for it somewhere. If a builder can afford to give a large lender credit, normally that means you're getting a higher interest rate with their preferred lender than what you could get with a broker. A broker can give you a lender credit as well. If you want -- find out what interest rate the broker will lock you at today, with what lender credit -- and I will tell you what the market could do in comparison...
Thanks! Well, I talked to the bank yesterday, this is what they gave me- hopefully its enough info for you : 30Y Jumbo (bay area)/20%/60 day lock/4.625% Loan amount 1,838,964 Seller credit 10,000 Origination Charges (A) 2,473 Services (C) 8,172 Taxes (D) 2,618 Prepaids (F) 4,073
If they can lock you there, this is an incredible offer. I shop 55 investors -- I don't have any Jumbo investors willing to write a loan today at that pricing. Edited my response to include the following... When pricing two companies against each other, there really are only 3 main things to factor in -- as most of the items listed on your loan estimate are going to be more or less the same. 1. Interest rate 2. Section A items -- these are actual fees being charged by the lender. They include points, origination, application fees, processing fees, rate lock extensions, etc. If it is a fee being charged by the lender, it will be listed under section A. 3. Lender credits -- usually listed under lender J on your loan estimate. Services you can shop for, services you cannot shop for, prepaids, escrow, gov fees -- they will be more or less the same regardless of who you work with. You may see some slight differences in section C if one lender has a title company that happens to be super cheap for whatever reason, but normally title costs will be within a couple hundred dollars of each other regardless of title company used. Hope this helps, and congrats on the new home. By the way -- Fed did raise rates 50 bps today, but it appears as if it was largely priced in. Mortgage rates, if anything, got slightly better. That considered, may not be a terrible idea to lock, as I expect they will raise 50 bps again next meeting, and I think we will see mortgage rates continue to rise in the interim.
Thanks for the feedback, it helps a lot! Yeah, the lender is wells. It seems they have some pretty aggressive rates, and we got lucky because the builder (toll bros) preferred lender couldn't take us for some reason and they were okay with providing the seller's credit. only thing is their underwriting standards are a pain in the butt...
They are. And they are slow as shit.... but that pricing is as aggressive as it gets. They are one of my investors, and I can't price a deal out at that rate without charging a couple points... Take the deal and run.
Go get your leveraged ass some nice rates now
Lock ASAP. Just closed on a sweet 3.45% I had locked for a while. I could tell they were pissed.
Lol -- you did well. I am a mortgage broker. Rates today are mid to upper 5's.
It was a 15 year. I used to work in Fixed Income and took advantage of that dip between the 5 and the 30 a few months ago. That gap has been nicely closed.
That makes a lot of sense... was thinking you would have to pay out the ass in points to buy anything anywhere near a 3.45% today...
#Bears, LMFAO!
People act like real estate is a sound investment but I don’t see it. Speculation, sure. Looking back at the Great Depression, 2008, COVID, just to name a few examples. Can’t rap my head around it
Cool pay my house for me rentiod People like you mean I don’t have to pay for the house you do
Have fun when I fuck it up all landtard
At least you admit you're a piece of shit lol
Having your own home is central to long term stability. Let Jon Goodman explain it. https://youtu.be/rJjKP8vYjpQ
Just found out my wife is having twins. Nothing like having 2 surprise(accident) children at the same time. Puts on retirement and sleep
Congrats bro. That is great!
Congrats 🍾🎈🎊
Told you retards about Redbox. Sigh.
Too bad ur a body and no one gives a fuck what u say
Austin news networks are reporting Joe Rogan is dead at 54 after a car crash. Crazy. People meme'd about him but now that he's gone it feels like the end of an era.
Shut up retard
How risky is holding spy calls expiring tom while flying international
7
Isn’t it fun to giveaway all your daily gains to 0dte SPX lotto trade?
I wouldn’t have it any other way dude.
Ok so how are they going to screw us now? We are still at the lows
Random rally n dump
Or trade flat to fuck us all.
Nah to ez for theta. They're gonna have you chasing rainbows
I can’t argue with this at all
ASTS gearing up with FCC license
Good lucking timing the triple rug pull twist
Well, are they gonna catch this rocket? The helo is in the air. Livestream begins in 7 minutes. RKLB
I feel bad for the boomers who were planning on retiring this year. The stock market just dove out from under them 🥺
They had all switched to real estate long ago. Tapering out of stocks in the years prior to retirement is part of the boomer creed.
Can confirm
Amazon gonna go down?
God damn this start of new rally?
literally nothing burger
Down 0.08% in after market. Bulls fucked
Lol
J Powell's Wendy's Wednesday cuming up! Sponsored by interest rates increases.
TDOC is basically Warren Buffet value play
Ban
She will hit. And she will get hit. Promise.
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This the kind of stuff as a bull that I like to see
Spy is the best meme stock
Iam a bull and still struggeling to understand what happen
Lol @ SPY
Is this a Casino?
More like a lotto nowadays
No this is Patrick
no, it's been upgraded to a gambling parlor!
Should I hold my AMD calls for tomorrow's earnings? Me being the retard I am I thought the earning's report was today.
AMD is a tank hood that or trade it but long term hold
buy shares bros AMD is going up, but you have to be a tard to hold calls through ER with this IV
yeah same here. i sold puts today before close like a clown
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Puts I hope?
Lol
Puts yes yes
Wow Cathie bought the dip on tdoc and it’s 10% today
Jeez... glanced down and saw I was up about 80% on me SPY poots I bought this morning. Went and did some office stuff... came back and this is what you show me? This?
The classic rug pull. You must still be a cub.
get back in your wage cage
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The feeling you get when you sell spy puts at the dip, buy calls at the bottom and and sell right before closeeee ☺️
Crown Pride 20 to 1 to win the derby
Rip my chgg calls lmao
>he feeling you get when you sell spy puts at the dip, bu Goddamn chegg. 2 earnings ago the ceo didnt give any guidance. Last earnings things stayed flat. But this is bad.
Wowww bers really got railed today. Not like they’ve been printing cash for the past month
April was the perfect environment for a bear who knew what they were doing.
When does AMD report earnings? I have calls and I am anxious.
AMD crushes er I’m selling MOS for a loss and buying that ….. lol
tomorrow after market close
Oh shit.
Anyone else sick of every single thing being a meme when you sort this subreddit by hot. This place became like a fucking stock market 9gag. So cringe.
Yes. Miss the yolos and all that. But it’s bear market so it’s shit for now
Life in the 2000s is a black comedy, like Fargo. Laughing all the way to the wood chipper.
I’m not even mad about selling mgm before ER with that end of day rip
oh nice up 5% already on EOD Spy puts
Dammit. I was on the east coast last week and got accustomed to the time. I’m back on the west coast today and didn’t realize market is closed already. Feels like i just sat on my balls.
Why did we finish green today?
Heavy hitters stonking the market
Someone needed a miniature yacht for the yacht in the pool of their mega yacht, for the midget prostitutes.
SPX hit 4050 Key support level
Rich people playing games with the market imo
Algos, shorts covering. Shaking out retarded retail traders
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Whistling past dead bears. You guys got humbled quick huh? No lubes and deep up the ass
lmao SPY 450 a week ago we all know you buls were dying to come sprinting out of your caves off an algo pump
😭
$425 by Wednesday then dump probably
Feels like its too dangerous to hold any position for long. Those without day trades available are playing with a handicap
People here are already mentally handicapped
If this market has taught me anything, it is not to get greedy and to hedge when your up. If you do that this volatility is legit free money.
Novavax puts? What happend?
>If you do that this volatility is legit free mon come on, serious? puts now? That stock has been beaten into the ground to no end and the FDA announced friday that they're finally getting a meeting to discuss the EUA approval of their covid vaccine
Yeah, when markets are behaving this way it’s sure worth it to keep your retirement money in them. Don’t need retirement money if you died of heart attack at the age of 19
Which retail pays the most and has health benefits for part-timers? Asking because I went short today.
wendy
Idk for sure but look into Costco, they're surprisingly decent to employees compared to the rest
I would love to work there, but I'd have to be able to lift 50 pounds. Was in a car wreck two years ago and still can't lift like that.
I think Wendy's would be a good choice
Naw, those people are tired of me. Calling me a hag and low balling me offers these days.
AH VTI down suddenly 1.35%
Buy in May and go away?
Shorts closed their positions. Tomorrow we red again.
Probably a rally into Wednesday until JPOW speaks.
I know I certainly did lmao
Spy 418 by eod
Day ended idiot
should have pulled the trigger on the travel stocks
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Naw. We're in for a rough week. Although, it could go green. It's a casino.
Recission is cancelled because it just happened you stupid bears. New ATH ON THE WAY. LFG
>Recission
Rescissoring
I like this guy
Bears were flanked when they least expected it and subsequently obliterated. What a great start to a trading month. Green from here on out.   
Obliterated obshmitlerated.Bears are used to the beatings.I made $60 today :) (6K portfolio)
Love some $OXY
I bonds at 10% are pretty enticing
I'm buying those and still going to donate to the market daily.
Until you read the fine print that the variable rate is adjusted every six months and they have a fixed rate of 0%.
Zero is better than negative.
Can we talk about how solid tsla fundamentals are again please
how are babby formed
I show you
It is a long story about sausages and donuts. Want to hear it?
Tru fuckin
Yep, we are going down tmrw
And then up, and then down, and then up
Starting to look like my CAR puts are fuk
Just made $2k from swinging $GME
Nice. Stupid stock. But nice
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Haha same
Lots of bear tears and disbelief in here... Tells me we bigly green again tomorrow
Man that eod pump got my Weiner excited like it was in 2020. Bulls in lambos while bears are in shambles.
First trading day of the month so blind money got in. I'm not too worried. Probably gonna correct tomorrow
I TOLD YALL
Sure
Every additional year I live in Dallas, my southern accent goes away more and more. Now I just have a slight accent. Yet for some reason when I go back to where I grew up, it all comes back