chris401 said:How long does it take from submitting the application to actually talking to someone about that application?

I think I heard from a rep within a day or two. Then after a week or so I was working with someone closer to my area (they switched).

eluck said:I need a suggestion:

Currently I am at 4.5% (5/1 ARM), still have just over 2 years left. I am thinking of refinancing, take out 100k and use that as a 20% down for an investment property. Ofcourse I haven't started looking at properties, but any suggestions from you guys? I live in seattle area. Thanks,

I suggest a more approprate thread The INVESTMENT / RENTAL PROPERTY thread!!!!!!

kdam001 said:Hrmm.. it appears Mortgage Rates are going up, up, and UP!

I know, this sucks. I'm doing the PenFed 5/5 and have to lock by the 21st! I was hoping it would drop back down to 5.25%.

TheHulkDeals said:I got an offer in Nevada for 6.125% with no point, Is that good enough? What would be a good rate, 6 or 5.875 ir 5.75 for the current market?

I have a excellent credit score and able to put 20% down.

Also Should i wait little longer (few weeks) to see if the mortgage rate is going up/down?

What type of loan? For a 30 year fixed jumbo, that is awesome. For an ARM, there is better out there including the PenFed 5/5. For a 30 year fixed conventional, I'm not sure, but I think you can do better.

kdam001 said:Penfed 5/5 is back down to 5.5%

Tomorrow is my last day to lock. I'm hoping for one last drop.

kjl1977 said:kdam001 said:Penfed 5/5 is back down to 5.5%

Tomorrow is my last day to lock. I'm hoping for one last drop.
Sounds like you're a real gambler -- I couldn't guess as to the likelihood of the rate rising or falling within a single day. Good luck!

10 year Penfed fixed 4.99% HEL.
15-20 year Penfed fixed 5.99% HEL.
You pick the term/payment that best fits your needs.
No closing costs. No points.

call penfed and they can tell you.

Also, if you can payoff the BTs, let your credit report reflect the zeroed out balances, then get the HEL and take the 0% BTs again after the refi, thats one way to do it. Many of the 0% cards will let you do additional 0% Bts during the whole intro period.

kjl1977 said:kdam001 said:Penfed 5/5 is back down to 5.5%

Tomorrow is my last day to lock. I'm hoping for one last drop.

I hope you got in at the 5.5 because as of 12/26 the rate is 5.75.

It seems like all the rates have gone up a tick or two. Any chance of getting back down to 5.5% on a 20 or 30yr fixed again?

Has anyone had any experience with American Interbanc Mortgage? They always offer pretty good rates. The last few days they have offered 30-year fixed rates around 5.75-6%, for loan amounts between $165,000 and $417,000.