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5/14/2009 - Best Mortgage Rates from Big & Reputable Lenders (30year @ 5%, 15year @ 5%, ARM's etc)

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alert mods    
rated:
   posted: Dec. 3, 2007 @ 2:14p

This thread is to list Lenders & Rates that people on FW have dealt with and have had good experiences and are considered "Reputable". I urge the FW community to update the WIKI as I will try to keep the first post updated to the best of my ability. Again include in the Wiki post the latest rates from REPUTABLE lenders and not some flyby companies.

30 Year Fixed best rates (To get advertised rates assume: Good Credit (720+), Stable jobs, 80% Maximum LTV):

05/14/2009 4.875% Absolute Mortgage Company (Rates do vary by state) Please ask for Bill Laffey 610-436-0500x111.
05/22/2009 4.875% Mortgage Man NJ (MMNJ)
05/14/2009 5.125% ACQ Mortgage (Formerly known as Madrate.com)
02/10/2009 5.125% IndyMac Refinance Page
05/14/2009 4.625% Capital First Home Loans
05/14/2009 4.75% (+1 Points Origination fee) Wells Fargo (Wachovia is also now Wells Fargo btw)
05/14/2009 4.875% (+1 Point Origination Fee)Penfed.org


30 Year Fixed Jumbo Best Rates (Assuming Good Credit & 20% down):

05/14/2009 5.625% Jumbo (+1 Point Origination Fee)Penfed.org

15 year Fixed:
05/14/2009 4.5% Absolute Mortgage Company (Rates do vary by state) Please ask for Bill Laffey 610-436-0500x111.
05/22/2009 4.5% Mortgage Man NJ (MMNJ)

ARMs , 5/5, 5/1, 7/1 No Points:
05/13/2009 4.5% 5/5 ARM Penfed.org(Jumbo is the same for this ARM product).
05/14/2009 3.75% 5/1 ARM Absolute Mortgage Company (Rates do vary by state)
05/22/2009 4.5% 5/1 ARM Mortgage Man NJ (MMNJ)
05/14/2009 4.125% 7/1 ARM Absolute Mortgage Company (Rates do vary by state)


Shahhere

Message edited by: shahhere on 2009-05-23 20:11:23 CDT
   posted: Dec. 3, 2007 @ 2:14p

Save on Title Insurance, use www.closing.com. Get a quote and most likely your title company will match it. Also try EntitleDirect also, they may be able to save you up to a THOUSAND dollars on title insurance and closing services, but they don't serve all states.

----------------------------------------------------
Want to find out if you need to Refi?

Link to Recommended Refinance Calculator -

Mortgage Professor - Refinance Calc
----------------------------------------------------

IndyMac (888) 407-3863

30Yr fixed rate 12/17, same for conforming and conforming jumbo.
4.75% no point -1% rebate toward closing (closing cost ~3500)
4.625% no point -.378 rebate
4.5% with .328% point buydown

Few things you want to do on the call:

1) Ask for lower origination. My agent knocked $500 off the $995 price
2) Try to get $300 off existing customer discount by open a banking account (this may be where discount #1 comes from)
3) Make sure the lock period is at 45 days or more
4) Sign up for paying for by AMEX, it's worth it
5) Ask them to email you a good faith estimate. You'll also get the agent's contact info this way
6) Get a loan number for reference, even if it'll change soon.
7) Have them acknowledge the rate floatdown if rates drop by .5% , 10 days before closing. You pay half of the rate drop in points to take this option.

IndyMac charges a $290 upfront application fee using Visa/Master. Get your Schwab 2% card ready.


Wholesale Rates for Comparison to Retail Offerings
Here

30yr, Conventional, No Points
12/06/2007 5.625% at www.madrate.com
12/03/2007 5.75% at www.pricelinemortgage.com direct link (rate is for negative .5 points)
12/07/2007 6.00% at www.madrate.com
12/06/2007 6.125% www.penfed.org
12/07/2007 6.25% www.penfed.org
12/13/2007 6.25% www.penfed.org
12/18/2007 6.375% www.penfed.org
01/15/2008 5.875% www.penfed.org Fixed Conventional Mortgage Loans
01/23/2008 5.5% at www.penfed.org, 5.375% at www.madrate.com, 5.125% at www.mtgcapital.com
01/30/2008 6.0% at www.penfed.org
01/31/2008 5.875% at www.penfed.org
01/05/2008 5.5% at http://www.madrate.com (60 days lock)
01/05/2008 5.375% at http://www.madrate.com (45 days lock)
02/28/2008 6.0% at www.penfed.org
03/19/2008 5.75% at www.madrate.com
04/17/2008 6.375% at www.penfed.org
04/17/2008 5.75% at www.madrate.com (still)
05/01/2008 5.625% at www.WAMU.com
05/01/2008 5.875% at https://www.wellsfargo.com/mortgage/rates/
06/19/2008 6.200% at www.madrate.com
06/19/2008 6.375% at www.WAMU.com
08/27/2008 6.0% at www.penfed.org
09/09/2008 5.5% at www.navyfcu.org
12/12/2008 5.5% at www.penfed.org
12/13/2008 5.0% at www.rwsmortgage.com call broker at 203-715-4661 to get the rate
12/16/2008 5.375% at www.penfed.org
12/18/2008 5.125% at www.penfed.org
01/06/2009 5.5% at www.penfed.org
01/08/2009 4.625% w/.25pts www.huntington.com
01/08/2009 4.75% www.wellsfargo.com/mortgage/rates/
01/08/2009 4.625% Wachovia 0 points .750 org $495 (processing bs fee)
02/11/2009 4.625% www.EverBank .com
03/19/2009 4.625% at Virgin Money USA
04/02/2009 4.750% https://sites.wachovia.com/mortgage/rates.html
05/08/2009 4.750% www.EverBank .com
06/26/2009 5.000% w/ 0.625% orgination Primary Capital


ARMs, 5/5, No Points
12/06/2007 5.5% (jumbo is the same)
12/13/2007 5.625% (jumbo is the same)
01/09/2008 5.125% at www.penfed.org (jumbo is the same)
01/15/2008 5.0% at www.penfed.org
02/10/2009 4.625% at www.penfed.org
04/08/2009 4.50% at www.penfed.org
05/22/2009 4.625% at www.penfed.org
06/03/2009 4.875% at www.penfed.org
10/01/2009 4.500% at www.penfed.org

5/5 ARM Calculator (Many calculators will not accept an adjustment period more than 36 months. -khtc)


30 yr, Jumbo, No points
12/07/2007 6.375% at www.penfed.org
12/11/2007 6.5% at www.penfed.org
12/13/2007 6.375% at www.penfed.org
12/14/2007 6.75% at www.madrate.com
12/14/2007 7.00% at www.wellsfargo.com
12/14/2007 6.5% at www.penfed.org
01/07/2008 6.125% at www.penfed.org
01/08/2008 6.0% at www.penfed.org
01/15/2008 6.125% at www.penfed.org
01/22/2008 6.0% at www.penfed.org
01/23/2008 5.75% at www.penfed.org
01/30/2008 6.625 at www.penfed.org
01/31/2008 6.5% at www.penfed.org
02/28/2008 6.0% at www.penfed.org
05/27/2008 6.125% at www.penfed.org
09/09/2008 5.5% at www.navyfcu.org
12/10/2008 5.375% at wellsfargo.com (through broker)
12/12/2008 5.75% at www.penfed.org
12/17/2008 4.625% at indymac.com (0.375 rebate)

30yr, FHA, No Points
3/12/2009 4.875% at http://www.wachovia.com/mortgage/rates.html
3/20/2009 4.5% ( .25% points) at http://www.wachovia.com/mortgage/rates.html

Message edited by: KHTC on 2009-10-06 11:14:43 CDT

alert mods    
rated:
   posted: Dec. 3, 2007 @ 2:15p

Penfed is good too from all the reviews I have read but their rate is much higher as of today.

Shahhere


alert mods    
rated:
   posted: Dec. 3, 2007 @ 2:27p

shahhere said:30 Year Fixed best rates:
12/03/2007 5.5% No points and No closing Costs at www.ELOAN.com
12/03/2007 5.5% No points at www.madrate.com

There are probably a few exceptions to this such as purchase only? 20% down?
I call BS on that no closing costs for the ELOAN, not with no points too.

Not a bad idea for a thread, just need enough info to compare loans or its meanless as bankrate's lists.

Message edited by: mhesidence on 2007-12-03 14:28:06 CST
alert mods    
rated:
   posted: Dec. 3, 2007 @ 2:27p

ELOAN's rate is showing points under 2% according to...
Important information about these rates


alert mods    
rated:
   posted: Dec. 3, 2007 @ 3:06p

That's a non-jumbo rate 5.5 at madrate. Jumbo rate is 6.75.


alert mods    
rated:
   posted: Dec. 3, 2007 @ 3:11p

Penfed has a very competitive rate for jumbos at 6.125% (compared to madrate.com's 6.5%) [no points on either]


alert mods    
rated:
   posted: Dec. 3, 2007 @ 3:11p

DavidScubadiver said:That's a non-jumbo rate 5.5 at madrate. Jumbo rate is 6.75.Actually, this makes me wonder... although I have a jumbo at 5.5, I am only 20,000 away from being a conventional mortgage. I suppose I may be able to qualify for a lower rate just by virtue of being a conforming loan. Should a conforming rate ever go below 5.5, I'll have to consider prepaying.


alert mods    
rated:
   posted: Dec. 4, 2007 @ 4:28p

Is madrate reliable?? any experiences with them??

Thanks


alert mods    
rated:
   posted: Dec. 4, 2007 @ 5:00p

financeNewbie said:Is madrate reliable?? any experiences with them??

Thanks

A few FWF reviews noted them to be worthy.

Also please note that I update the rates for today and looks like Penfed dropped the rates a bit.

Shahhere


alert mods    
rated:
   posted: Dec. 4, 2007 @ 6:03p

Personally, I wouldn't mind seeing some jumbo rates included as well. I added the PenFed rate. Have people worked with them before? How are the closing costs?

DavidScuba, how did you find such a great rate for a jumbo?


alert mods    
rated:
   posted: Dec. 4, 2007 @ 9:17p

What percentage would i be required to pay as closing costs and other fees.


alert mods    
rated:
   posted: Dec. 4, 2007 @ 11:47p

honeymay98 said:ELOAN's rate is showing points under 2% according to...
Important information about these rates

ELOAN assumes 33% down. roflol. Most buyers are lucky to scratch 20% together.

I applied for a 30 year fixed loan through mtgcapital.com for 5.875%. We should close within two weeks. MTG was the best i found without a bloated loan origination fee. MTG rocks.


alert mods    
rated:
   posted: Dec. 5, 2007 @ 10:53a

LoansAtWholesale.com today has 5.625 for conventional 30 year fixed with -.25 points. Lender fees total $1449 (all 800 items on GFE).

Their rate/points details have been fluctuating every day. I submitted an app over the weekend and don't think they've contacted me yet (was traveling yesterday, may have missed them).


alert mods    
rated:
   posted: Dec. 5, 2007 @ 12:17p

SlimTim said:LoansAtWholesale.com today has 5.625 for conventional 30 year fixed with -.25 points. Lender fees total $1449 (all 800 items on GFE).

Their rate/points details have been fluctuating every day. I submitted an app over the weekend and don't think they've contacted me yet (was traveling yesterday, may have missed them).
Apparently they don't do loans for California.


alert mods    
rated:
   posted: Dec. 5, 2007 @ 12:55p

And I was wrong about the rates, mixed two options. For loansatwholesale, it's +.125 points for 5.625. 5.75 gets -.25 points.

They say they only work in Alaska, Arizona, Colorado, Florida, New Mexico, Texas, and Utah. Pretty big catch there.


alert mods    
rated:
   posted: Dec. 5, 2007 @ 2:54p

Do you guys think its good time to refinance ?

Currently i have an 5yr ARM(5.75%) going to reset in Mar,2010. I want to refinance that to a 30 year fixed.


alert mods    
rated:
   posted: Dec. 5, 2007 @ 3:04p

It was a few months back, but I did a contruction mortgage with zero to close (about $7k in closing becuase I bought points during construction) that converted to a conventional 30 year fixed at 5.87 %. I had to do an 80/10 for it, with the 10 being at 7.5% and a 15 year balloon.

It was through First Horizon.


alert mods    
rated:
   posted: Dec. 5, 2007 @ 3:30p

zaky101 said:Do you guys think its good time to refinance ?

Currently i have an 5yr ARM(5.75%) going to reset in Mar,2010. I want to refinance that to a 30 year fixed.

I would wait to see exactly what the shakeout is with the fed bailout plan. Might not reset afterall - but I have only read headlines - not sure who it applies to.


alert mods    
rated:
   posted: Dec. 6, 2007 @ 8:09a

Looks like rates creeped up across the board. Updated the OP.

Shahhere


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