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Hi Fishes,
I am a researcher. I do research, based on my research, I will deliver actionable insights & suggestions for product building and business decisions.
Since I am coming from specalization school of thought.
I am curious to understand what set of skills consultant have and What will they do in companies like Deloitte, McKinsey, EY , Boston Consulting Group, Bain? Also how many type of consultants are there? Is everyone are generalist or specialist?
Kindly shed some light on this!
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I closed with 2.5% for a 30 year mortgage in Jan with loan cabin. This is for a 580k mortgage in Los Angeles with about 500k in equity for context.
I applied for it in August 2020, finally closed in Jan this year due to their volume. Closing costs were about 1,500 for title etc.
Mentor
Similar experience with cardinal financial. Started in July, closed in February.
Got 3% APR, 2.5% IR. Had to pay some points
Mentor
Buddy of mine got 2.3% on a 30 year last summer. Insane
I paid to have 2.5. My broker even offered 2.375 but it was too expensive to get. Look for online lenders, traditional mortgage companies have too much over head
Mentor
Got 3% with points ($2k, $500 lender credit), then found a local broker at 2.875%, $1k credit, and no points - got my first lender to price match
Also, whatever LE you get, apply to better.com and they’ll try and beat that LE. I refinanced earlier in 2020 before my second refinance.
I got a LE from owning.com for 3.25% and better said they would match it and give an extra 1k to closing costs or they beat the rate to 3% and no closing cost reduction. I took the 3% and paid 2k in closing costs. But Amex had an offer where you get 2,500 back if you close with better.com, so came out ahead on that one.
Mentor
As of March 13th, 2021.
Mentor
Haha, in theory.
We been waiting for a “market correction” for a while now, pre pandemic. Covid Pandemic screwed up the timing and now my clients don’t know what to expect. Biggest question/fear is how big is this real estate bubble. Pre-covid property that would sell for 250k is now selling for closer to 300k. If a market correction were to occur, will the price drop down to around 250k? Or at its original correction of around $225k? This example is small in nature and not meant to be accurate in figures. All there is left to do is raise our hands up high and enjoy the rollercoaster ride.
Coach
I’m seeing 2.875 at a lot of places right now
I got 2.875 2weeks ago. No points with a bit of credit
I just refi’d for 2.25 but it’s a VA loan. Assuming you are conventional.
I got 2.6 closing next week
VA refi. Closing end of month. 2.7%.
Closed yesterday at 2.7% with Morgan Stanley. Jumbo loan ($2M).
Not a partner. Left D for industry last year as a mid-thirties M post-MBA. Upgrading from a starter house in a hot housing market (Los Angeles, appreciated from $830k to $1.4M in 6 years). Also have an income generating investment property and a partner who has done quite well, including a few big bonus payouts (one that made the first house possible and another that made this second house possible). We both come from modest backgrounds, so we’ve made the conscious decision to live more frugally and invest what we can (especially his bonuses and the bonuses I got from D - including signing bonus and the tuition payout I got because I had a full scholarship to b school) in real estate rather than depreciating assets (cars, clothes, handbags). We’ve been fortunate in so many ways, but also disciplined and purposeful.
We did not pay down points, but I think we may have had a slight discount because all of our banking is with Morgan Stanley.
Regarding timing, we certainly did seem to hit the sweet spot. Our rate was locked late Jan/early Feb. Our financial advisor has told us the rate is back up above 3% now.
Rates are starting to increase now, jumped from 2.875 to around 3%-3.125% right now, govt started to sell bonds and rates started to slip away
Definitely shop around and get a few other estimates. You can use the better rates to get your first broker to price match without having to walk away usually.
I got 2.5% on a conventional loan without points a few months ago but I think I timed it well. Anything at or under 3% is good right now.
Question on if the rates here are lower for people not buying their first home? I’ve got good credit but have been quoted in the low 3s in the past week. Who would be best to consider for rate specific competitiveness?
G1 would you mind sharing who you’re getting financing through?
Anyone had a jumbo loan? Wonder what rates people have been getting with jumbo
I always get lower rates but the closing cost is so expensive.
Are you buying down the rate?
2.125 with no points on my refi to a 15 year.
Got 2.6 last year