I received a pre-approval and fee sheet from a lender and the 30 year interest rate on a $400,000 loan for a primary residence was 4.375%, APR 4.508%. This was on 4/6/17 but it appears that current 30 year interest rates are below 4% via a quick Google search. Am I missing something, or if I'm not does anyone have a Houston area recommendation?l who provides better rates?

What is your credit score and what % down payment?

I was in Houston and worked with Jay. Would strongly recommend him. Made the process so easy.

Both of us have 800+ scores and for the pre-approval we estimated a $485,000 house with $85,000 down for a loan amount of $400,000. It doesn't appear to be a jumbo loan so to me their rate seems high. What is Jays contact info?

Are you using a Bank or Broker ?

Mortgage lender (Nations Reliable Lending) in Sugar Land

e-lenders rates will always be lower. There's a reason for that.

BPCAg05 said:

---

What is Jays contact info?

---

Once he sees this I am sure he will post here. He is a sponsor of the board and if you search him on this forum you will see he is recommended very frequently. There are a couple other lenders on this board as well who could help you.

https://agsreward.com/about-us/

I'm 4.125 no points on that loan.

Thanks wife!


There is a lot that goes into the precise rate/terms on a loan including credit score, loan to value, lock term, second lien or not, single family vs condo etc etc but with credit scores over 800, single family with one lien you should be at 4% or maybe even under.

My email is my signature line here and I would love to compete for your business and send over some worksheets.

Jay, not to hijack this thread but I close May 8 and have a lock signed at 4.5%, 30 yr amort, 25% down, $380k note, high credit. I signed this the day before the fed announcement 6 weeks ago thinking rates were going up.

Can I bail on my guy, pay a penalty and use you for those rates? I have all docs and an appraisal ready to go.

Jay needs to answer you. The appraisal is key. You do not own it. Your lender will have to have a transfer policy and the new lender has to accept it. Otherwise New appraisal.

That is a very tight window to start and close.

Good luck

Aggiejumper,


Have you asked your current lender about their "float down" option? If they allow, typically you can get closer to current rates but not all the way. Rates have to move pretty substantially to be able to do that in most cases but you might want to check first. (I will say that rate sounds pretty high even 6 weeks ago)

As pointed out above, the appraisal are not always portable but sometimes they are and we can use it. Secondly, 18 days is enough time to get your deal closed assuming you have a relatively straightforward file even if we had to order the appraisal in most cases. But, just for the hassle factor you should ask about the float down possibilities first.

Average back below 4% today. https://fred.stlouisfed.org/series/MORTGAGE30US

Come on 3.5%!!!

4 for free today, for right now until the bond market scares the banks enough.

3.99% certainly possible today in that scenario.

Feel free to reach out to me.

Danny@TxPremierMortgage.com
Danny Tyroch '07