03-20-2009, 07:42 AM
Wow, I can't even fathom a sub-4 rate on a mortgage. That would be hotness.
I called the bank yesterday and everyone there is working 12 hour days to keep up with the call volume. I guess lots of people are looking to get a little extra cash in their pocket by refinancing.
Nothing on rates yet... they owe me a call back. I think we'll see mid-4's in the next week or so on a 30 year fixed which means I should get my 5 that I'm looking for.
I see that they raised the limit on Jumbo loans to 417,000. What exactly does that mean? When they evaluate your loan, do they look at the total outstanding (including home lines) or is that just for the main mortgage?
I owe about 300k on my primary mortgage, but with my home line I'm just over the 417,000 limit.
I called the bank yesterday and everyone there is working 12 hour days to keep up with the call volume. I guess lots of people are looking to get a little extra cash in their pocket by refinancing.
Nothing on rates yet... they owe me a call back. I think we'll see mid-4's in the next week or so on a 30 year fixed which means I should get my 5 that I'm looking for.
I see that they raised the limit on Jumbo loans to 417,000. What exactly does that mean? When they evaluate your loan, do they look at the total outstanding (including home lines) or is that just for the main mortgage?
I owe about 300k on my primary mortgage, but with my home line I'm just over the 417,000 limit.
WAR = Zeel, Zeelio, Sheldon
WoW = Zeelio
EQ = Sheldon
RL = Sean
WoW = Zeelio
EQ = Sheldon
RL = Sean