Anyone take out a VA loan recently? Looking at 30 year fix. Just want to get an idea on what’s possible now. Which lender and what rate? How much closing cost

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Purchased in Dec, jumbo 30y fixed at 3.3%.

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I think the cap has been removed so closing costs should be a thing of the past...even for jumbo

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👀

im in the process right now. lender last week quoted me 3.25 for 30 year fixed. closing costs are largely dependent on house price but as a data point, I closed on my townhouse two years ago ($475k) and spent like $10k-$11k on closing if I recall correctly.

Got a 2.75 offer on a 30-year fixed. CR 750-800. With the 10Y OTR treasury being where it is (sub-1), I’m really surprised at the high rates that mortgage companies are getting away with. Following the surge of refi’s we’ve seen over the last two months, I would expect rates to drop as long as treasury yields remain where they are and demand drops back below lender capacity. I’m holding for now on refi.

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I’m closing on 1.5x that and my costs are going to be lower

3.25 for a 30 with closing costs is not great right now. I got that in 2012 with no closing costs. I know people that got less than 3 with no cc but that was Feb or early March. I understand rates may have gone up since then because there is a lot of demand right now

Going through refinance right now. 2.75% 30 year.

hmm not bad at all

Closed on Friday. Was given like a 3.1 or something, bought down to 2.75. APR was 2.84 or something.

Great, small lender in CA. Happy to refer you if you’re in CA. Rates have risen slightly though over the last 2 weeks though.

Currently going for refi with a 2.75

holy shitballs.
Which lender? And is it a jumbo loan (basically any HCOL area)?

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SC1 and A2 - where do you find 2.75% on a refinance? I was just looking at Wells Fargo online and they aren’t even close to that for a refi.

Paramount Bank

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If you’re like me (great credit and cash flow but not much capital and first time homebuyer) and looking in a HCOL market you have to use a “jumbo loan” which pushes you up a bit

Yup, anything above $510,400 is jumbo. We just bought a house for $525,000. Our down payment was enough to get us under $510,400, the max conforming loan limit. We could have done more but with such a low interest rate we’d prefer to deploy our capital elsewhere.

If I could do it over, I would take out a mortgage with a higher rate (to get closing credit) and then do a IRRRL refinance of the loan 6 months later (or whatever the minimum is before you can refinance).
The numbers work out.
Also have excellent credit though.

All, do not do it with a bank. Do it with a mortgage broker. They will get you the best rates. USAA doesn’t typically have anywhere close to the best rates

Refi’d in December from 4.5 to 2.875. Closing cost was 8k on a $600k home. I initially used USAA then refi’d to UWM. Reach out if you want my contact. I believe she is limited to CA though.

For context, my buddy(civilian) in Jersey is refinancing now. He’s getting 3.5% quotes at best with points and other fees. Aim for 2.75 or less. Best of luck!

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