Well that was a quick drop in rates. We locked someone at 3.75% and another at 4% in the last few weeks. The best way to get a great rate is to start your app with us, and have most of the documentation lined up. Then hang out until rates drop again, which they will. The worst way to do it is to believe a California Bank that you can get a rate that's 1% less then reality.
But some consumers don't have the experience to understand that these fake rates are non-existent. That's how people learn. I can't tell you how many clients ask if they'll be charged an extra $10k at the closing for the rate. We are regulated by the States of NC and VA and we can't behave like that (banks are not regulated for mortgages by the State in which you live). Nearly all credit unions don't offer 30 year fixed rates directly and subcontract that product out to brokers (which we are).
Call us and we'll get your app started. You tell us the rate you want and we'll hang out and wait for rates to drop. Then we'll lock you in and you'll get the rate you want. 919 771 3379. Andy May.
Just a reminder that rates typically edge up in the Spring and go down in Winter. We just locked 4.375% on a 30 year fixed (this is not an offer). This is still higher then the 3.25% 30 year fixed we locked someone into back about 5 years, but it's also lower then the near 5% rates we saw last year (for a 30 year fixed).
Remember, new HELOCs are no longer tax deductible. But cashout refinances are more then likely (depending on your tax status). ADRMortgage.com does cashout refinances. Rates are generally about 5/100ths of 1% higher for a cashout refinance. Gone are the days of high cost cash outs. HELOCs are now about 2% higher then standard 30 year fixed rates.
Call us to do a general home mortgage checkup. We're here to help, with zero BBB complaints ever to date and counting.
Andy May 919 771 3379