Forum
« buying tiles & marble twenty foot tall fence? »
April 22, 2009
Best rates for conforming loan?
I was offered the opportunity to refinance our mortgage at 4.875% (single family home; mortgage would be just under the conforming limit of $729K). Cost to refinance would be about $5K. Is this a good rate? Is the $5K a standard cost?
I have searched on line, but can't seem to get a better rate. Any thoughts?
Thanks!
Comments
That's a good rate. Some may be able to beat it but that's pretty much the rate that I'm offering if you have the best credit for a single family and are not looking to take cash out.
Take it.
Posted by: Adam Dahill at April 22, 2009 11:06 AM
Thanks Adam. I was hoping you'd chime in on this. Is $5K about the normal cost for refinancing?
Posted by: Splenda at April 22, 2009 11:45 AM
HSBC's communityworks program is offering rates of around 4.375% if you qualify
Posted by: bunkerlabs at April 22, 2009 12:38 PM
what is the communityworks program? What do you need to qualify?
thanks!
Posted by: Splenda at April 22, 2009 2:53 PM
More or less. Are you counting escrows? Is it within the city limits? Mtg Tax? When did you take out the previous mortgage? If it's recently you can get a re-issue rate on the title insurance.
Feel free to send me the GFE.
Posted by: Adam Dahill at April 22, 2009 3:20 PM
If you call or go into an HSBC in brooklyn they should have information on it. I know you need a credit score of at least 680, there might be neighborhood restrictions but you'd have to ask them. Hope that helps.
Posted by: bunkerlabs at April 22, 2009 7:37 PM
Post a comment
Please be patient while your comment is published. It may take a moment.