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rated:
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):

09/25/2013 4.00% Absolute Mortgage Co - Quicken Loans  
07/14/2010 4.5% Peoples Home Loans is Mortgage Man NJ (MMNJ) and here is his PM, 732-348-5397,   davep@bankingunusual.com .
09/25/2013 %   BillLaffeyMortgage   You can also reach Bill L (AMBL), 610-572-2220 blaffey@bankingunusual.com
09/25/2013 4.375% IndyMac Refinance Page (now OneWest Bank   
09/25/2013 4.50% (+1 Points Origination fee) https://www.wellsfargo.com/mortgage/rates  
09/25/2013 4.125% (+1 Point Origination Fee)https://www.penfed.org/productsAndRates/mortgages/mortgageCenter.asp  
09/25/2013 4.50% EverBank Page 877.436.4381   
09/26/2010 4.25% Pat Tovey PT Mortgage Inc(Only in Massachusetts)    and Pat's (she is a lady) email is pattovey@gmail.com

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

12/08/2009 4.875% Jumbo (+1 Point Origination Fee)https://www.penfed.org/productsAndRates/mortgages/mortgageCenter.asp  

15 year Fixed:
09/25/2013 3.125% Absolute Mortgage Co - Quicken Loans  
07/14/2010 4.0% Mortgage Man NJ (MMNJ)    here is the link to the website as well  Peoples Home Loans      
09/25/2013 3.5% EverBank Page 877.436.4381   
09/26/2010 3.625% Pat Tovey PT Mortgage Inc(Only in Massachusetts)    and Pat's (she is a lady) email is pattovey@gmail.com

ARMs , 5/5, 5/1, 7/1 No Points:
09/25/2013 2.75% 5/5 ARM https://www.penfed.org/productsAndRates/mortgages/mortgageCenter.asp  (Jumbo is the same for this ARM product).
07/14/2010 3.375% 5/1 ARM Mortgage Man NJ (MMNJ)  

07/14/2010 3.75% 7/1 ARM Mortgage Man NJ (MMNJ)   

If you know what MBS pricing is you can look that up yourself here:
http://www.mortgagenewsdaily.com/mbs/   

Shahhere

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Most Recent Posts
Hi All,

Need some advice. The wife and I are looking to purchase our first house together. I bought my current townhome... (more)

mblock66 (Jul. 28, 2014 @ 10:48a) |

MBS -3/32

AMCBL (Jul. 28, 2014 @ 12:29p) |

What news is this week AMCBL?

pillsdoughboy1 (Jul. 28, 2014 @ 3:16p) |

*** MBS prices: Up is good (Mortgage rates may go down), down is bad (Mortgage rates may go up). Mmmmmkay? ***

What is MBS and why does it affect rates?
Here 

Wholesale Rates for Comparison to Retail Offerings
Here 

MBS daily pricing information:
http://www.mortgagenewsdaily.com/mbs/ 
Link 

Current PenFed rates:
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 https://www.penfed.org/productsAndRates/mortgages/firstMortgageLoans.asp#conventional
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://L607bffdeb1f8b618e079b512f609b681 (60 days lock)
01/05/2008 5.375% at http://L607bffdeb1f8b618e079b512f609b681 (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.L0f4e208ce4af940352a3889e11fd85d2.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.L0f4e208ce4af940352a3889e11fd85d2.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.L95ee2bb86213f45382b15adffc28d3ed  .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.L95ee2bb86213f45382b15adffc28d3ed  .com
06/26/2009 5.000% w/ 0.625% orgination Primary Capital
07/07/2010 4.375% www.L95ee2bb86213f45382b15adffc28d3ed  .com
07/08/2010 4.375% www.penfed.com 75% LTV(1% orig. fee Fannie Mae LTV adjustment: .5%)
07/18/2010 4.375% w/ $0 lender fees www.firstib.com 80% LTV
08/11/2010 4.125% w/ $600 lender fees total www.firstib.com 
06/08/2011 4.50% at www.boxhomeloans.com (-.485 Points) (CA,CO,ID,NV,NM,UT,WA,OR, or TX only)
08/05/2011 4.25% at www.firstib.com ($900 credit)
08/08/2011 4.375% at www.penfed.org (no 30yr jumbo)
08/10/2011 4.00% at www.amerisave.com  (warning: reported widely to be scammy)
08/10/2011 4.00% at www.firstib.com ($3000 credit)
05/18/2012 3.625% at FCB 
06/01/2012 3.50% at www.provident.com 
07/12/2012 3.375% at www.provident.com 
07/17/2012 3.75% at www.provident.com (w/ credit that covers all closing fees)
09/08/2012 3.375% at www.penfed.org 
10/20/2012 3.25% 0%-.75% points at https://penfed.mortgagewebcenter.com/CheckRates/SearchCriteria.asp 
10/25/2012 3.50% (0%-.75% points depending on LTV) at https://penfed.mortgagewebcenter.com/CheckRates/SearchCriteria.asp ÃƒÆ’‚ 
11/15/2012 3.125% (0% to .75% points depending on LTV) at https://penfed.mortgagewebcenter.com/CheckRates/SearchCriteria.asp 
05/13/2013 3.375% (-0.85% points) Condo 75% LTV CA at Box Home Loans 
05/02/2014 4.125% at www.penfed.org

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 
08/05/2011 3.625 at www.penfed.org 
08/08/2011 3.625% at www.penfed.org (jumbo is the same)
02/29/2012 2.625% at ING Direct 
05/07/2012 3.0% (jumbo is the same) at www.penfed.org 
07/20/2012 2.875% (jumbo 3%) at www.penfed.org 
05/02/2014 2.875% at www.penfed.org

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)
05/30/2013 3.75% at bofa.com
05/02/2014 2.875% at www.penfed.org

15 yr, Conventional, No points
01/23/2011 4.00% at www.penfed.org (online rate, 0/0 and no closing costs)
08/05/2011 3.375% at www.firstib.com (no lender fees)
08/10/2011 3.25% at www.firstib.com 
04/10/2012 3.00% at www.provident.com 
05/18/2012 3.00% at FCB 
06/15/2012 2.75% at www.provident.com 
08/28/2012 3.125% at www.firstib.com (no closing costs)
05/02/2014 3.25% at www.penfed.org​

15 yr, Conventional, Jumbo, No points
01/23/2011 4.25% at www.penfed.org (online rate, 0/0 and no closing costs)
09/23/2011 3.75% at Schwab 
05/02/2014 3.25% at www.penfed.org

Few things you want to do on the call:

1) Ask for lower origination. My agent knocked $500 off the $995 price
2) Make sure the lock period is at 45 days or more
3) Ask them to email you a good faith estimate. You'll also get the agent's contact info this way
4) 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. 

Message edited by: 2014-05-02 02:47:10 EST

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

Shahhere

rated:
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.

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

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

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

rated:
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.

rated:
Is madrate reliable?? any experiences with them??

Thanks

rated:
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

rated:
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?

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

rated:
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.

rated:
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).

rated:
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.

rated:
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.

rated:
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.

rated:
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.

rated:
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.

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

Shahhere

rated:
bNeta86 said: 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.


I'm wondering if they are going to be going lower as well. I have a 30 year fixed but at 6.75%... 5.625% sounds pretty tempting.

rated:
I went with Wells Fargo 15 yr fixed at 5.25% with .25 point.
Their rate was competitive, excellent reputation, great customer service, and FREE 60 day lock-in option (penfed's 30 days). All for $300 or $400 fee.
If the rate drops further before my closing, they will re-lock the rate half way for free.
So, if 15 yr fixed drops to 4.75, then they will drop my rate to 5.00 free.
Very happy with their service so far.
Oh, they have the closing gurantee: We will close your loan on or before the closing date stated in your original purchase contract or we'll write you a check equal to your first month's principal-and-interest payment.

rated:
kihne said: I went with Wells Fargo 15 yr fixed at 5.25% with .25 point.
Their rate was competitive, excellent reputation, great customer service, and FREE 60 day lock-in option (penfed's 30 days). All for $300 or $400 fee.
If the rate drops further before my closing, they will re-lock the rate half way for free.
So, if 15 yr fixed drops to 4.75, then they will drop my rate to 5.00 free.
Very happy with their service so far.
Oh, they have the closing gurantee: We will close your loan on or before the closing date stated in your original purchase contract or we'll write you a check equal to your first month's principal-and-interest payment.


My builder's proffered lender gets their loans underwritten by Wells Fargo and up until this week they (Builders Lender) were playing games where they were quoting me 6.375% for 30 years with No Closing Costs ($1004). Finally when Wells Fargo dropped their rate this week the Lender came back and said that he could do 5.875% for 30 years fixed with no closing costs.

My initial plan was to go with Penfed when they had their 5/5 ARM at 5.375% (& my rate was 6.375%) that is why I took the No Closing cost option and basically paid 1/8% more. Now with the 5.875% I am debating if a 5.5% rate that is going on today will be beneficial. Maybe a 5.25% 30 year fixed (Hoping ).

Shahhere

rated:
bNeta86 said: 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.

Agreed. Read the other thread on the bailout. Basically the summary is that the people that are up for reset after Jan 1 will get an extension on their teaser rate if they have been paying consistently.

rated:
durin said: bNeta86 said: 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.


I'm wondering if they are going to be going lower as well. I have a 30 year fixed but at 6.75%... 5.625% sounds pretty tempting.


The general say is ... if current rate is less by 1% or more then it is worth a refinance... my 2 cents.

rated:
Just wondering how you guys are getting such low rates. My credit score is above 720 but I am planning to put down only 10% is that why my rates are higher than?? Please help me how to find good rate?? Is putting down 10% very low,

Thanks,

rated:
Checked in with www.penfed.org and the rate on a 30 year fixed jumbo went up to 6.375%. Updated the wiki to show that, but kept the old rates for historical perspective. Looks like the conventional went up as well, so I added that.

Two questions:
(1) Has anyone used penfed and what did they think?
(2) Is anyone seeing a lower 30 year fixed jumbo than 6.375%?

Thanks, and happy friday.

rated:
Looks like the Rate freeze caused all the rates to creep up up and up in the last few days. Update the current rates.

Shahhere

rated:
shahhere said: Looks like the Rate freeze caused all the rates to creep up up and up in the last few days. Update the current rates.

Shahhere


Yeah, we all will pay for the subprime bailout....

USAA 15 year rates jumped .5% on Thursday.

rated:
I believe the rate increase mostly had to do with the stronger than expected unemployment report issued on Friday morning. Once I saw that, I pounced on the phone and locked-in my 5.75% 30 year fixed rate from Wells Fargo before the market opened.

rated:
30-Year Fixed Rate Conventional Loan

AAXA Discount Mortgage 5.625%, no points
Gold Star Mortgage 5.625%, no points
Home Finance of America 5.75%, no points

I am looking at a few lenders, but I am not sure about their reputation. AAXA seems like a good choice, and is approved by the BBB. Any thoughts or experience with these mortgage companies?

rated:
kdam001 said: 30-Year Fixed Rate Conventional Loan

AAXA Discount Mortgage 5.625%, no points
Gold Star Mortgage 5.625%, no points
Home Finance of America 5.75%, no points

I am looking at a few lenders, but I am not sure about their reputation. AAXA seems like a good choice, and is approved by the BBB. Any thoughts or experience with these mortgage companies?


Before you start seriously considering any of these lenders, why don't you get good faith estimates and compare closing costs. I was surprised at some of the lower rate/zero point rates I saw, only to discover that the lenders were recouping the discounted rates with higher closing costs (on the 800 line items). Also check if your employer has any incentives with any mortgage lenders.

rated:
Looks like the rates went up again today: Jumbo fixed at penfed is now at 6.5%. I should have acted early last week. Darn.

rated:
INGDirect is another good one for ARM. 5/1 is currently at 5.75 with $895 for closing.

rated:
subhasha31 said: INGDirect is another good one for ARM. 5/1 is currently at 5.75 with $895 for closing.

Last few days, the rate has gone up 1/8 of a point. Does anyone think that the rate will drop a little in the next few days? Thanks!!!!

rated:
Pun said: subhasha31 said: INGDirect is another good one for ARM. 5/1 is currently at 5.75 with $895 for closing.

Last few days, the rate has gone up 1/8 of a point. Does anyone think that the rate will drop a little in the next few days? Thanks!!!!


Read this guy's commentary: Link

rated:
I updated the rates for today at 10am and looks like Madrate inched back down a bit again. It seems like Wells Fargo is much more conservative with their rate and are generally the last one to change their rates in the group of lenders I am following.

Shahhere

rated:
kdam001 said: 30-Year Fixed Rate Conventional Loan

AAXA Discount Mortgage 5.625%, no points
Gold Star Mortgage 5.625%, no points
Home Finance of America 5.75%, no points

I am looking at a few lenders, but I am not sure about their reputation. AAXA seems like a good choice, and is approved by the BBB. Any thoughts or experience with these mortgage companies?


Dkam001 please note that before doing business with such companies that you note what their fees are because AAXA that you listed the rate for 5.625% does not charge points but their fees are almost $1300 so in essence they are making their money that way. Also note that unlike points which can be deducted every year you cannot deduct fees.

Shahhere

rated:
So, does anyone have any experience with PenFed? I assume that a credit union tied to a governmental agency has to pretty decent w/r/t timeliness, policies, fees, etc.

--edit: looked up some threads on the subject; they seem pretty cool. anyone have first hand experience with fees? can you make additional payments that are credited to your principal?

Also, is there any way for a civilian to become a member of Navy Federal Credit Union? The rates there are great -- 6% with no points for a jumbo 30 year.

--edit: looked up a thread, doesn't seem to be anyway in without a direct service connection (unlike penfed)

rated:
To get into Penfed, just join the NFMA

Skipping 18537 Messages...
rated:
What news is this week AMCBL?

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