Save on Title Insurance, use www.closing.com. Get a quote and most likely your title company will match it. Also try EntitleDirect also, they may be able to save you up to a THOUSAND dollars on title insurance and closing services, but they don't serve all states.
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Want to find out if you need to Refi?
Link to Recommended Refinance Calculator -
Mortgage Professor - Refinance Calc
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How are MBS prices related to mortgage rates?
From MortgageManNJ:
"Typically it is an inverse relationship: when the MBS market is positive, that is good for rates (meaning they could drop with sustained positive movement in the MBS market). The same the other way -- sustained negative movement in the MBS market could lead to rates worsening (going up).
Just because the MBS market was 6/32 today, does not mean rates will drop .250%.....although I do wish it were that easy.........."
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Wholesale Rates for Comparison to Retail Offerings
Here
30yr, Conventional, No Points
12/06/2007 5.625% at www.madrate.com
12/03/2007 5.75% at www.pricelinemortgage.com direct link (rate is for negative .5 points)
12/07/2007 6.00% at www.madrate.com
12/06/2007 6.125% www.penfed.org
12/07/2007 6.25% www.penfed.org
12/13/2007 6.25% www.penfed.org
12/18/2007 6.375% www.penfed.org
01/15/2008 5.875% www.penfed.org Fixed Conventional Mortgage Loans
01/23/2008 5.5% at www.penfed.org, 5.375% at www.madrate.com, 5.125% at www.mtgcapital.com
01/30/2008 6.0% at www.penfed.org
01/31/2008 5.875% at www.penfed.org
01/05/2008 5.5% at http://L607bffdeb1f8b618e079b512f609b681 (60 days lock)
01/05/2008 5.375% at http://L607bffdeb1f8b618e079b512f609b681 (45 days lock)
02/28/2008 6.0% at www.penfed.org
03/19/2008 5.75% at www.madrate.com
04/17/2008 6.375% at www.penfed.org
04/17/2008 5.75% at www.madrate.com (still)
05/01/2008 5.625% at www.L0f4e208ce4af940352a3889e11fd85d2.com
05/01/2008 5.875% at https://www.wellsfargo.com/mortgage/rates/
06/19/2008 6.200% at www.madrate.com
06/19/2008 6.375% at www.L0f4e208ce4af940352a3889e11fd85d2.com
08/27/2008 6.0% at www.penfed.org
09/09/2008 5.5% at www.navyfcu.org
12/12/2008 5.5% at www.penfed.org
12/13/2008 5.0% at www.rwsmortgage.com call broker at 203-715-4661 to get the rate
12/16/2008 5.375% at www.penfed.org
12/18/2008 5.125% at www.penfed.org
01/06/2009 5.5% at www.penfed.org
01/08/2009 4.625% w/.25pts www.huntington.com
01/08/2009 4.75% www.wellsfargo.com/mortgage/rates/
01/08/2009 4.625% Wachovia 0 points .750 org $495 (processing bs fee)
02/11/2009 4.625% www.L95ee2bb86213f45382b15adffc28d3ed .com
03/19/2009 4.625% at Virgin Money USA
04/02/2009 4.750% https://sites.wachovia.com/mortgage/rates.html
05/08/2009 4.750% www.L95ee2bb86213f45382b15adffc28d3ed .com
06/26/2009 5.000% w/ 0.625% orgination Primary Capital
07/07/2010 4.375% www.L95ee2bb86213f45382b15adffc28d3ed .com
07/08/2010 4.375% www.penfed.com 75% LTV(1% orig. fee Fannie Mae LTV adjustment: .5%)
07/18/2010 4.375% w/ $0 lender fees www.firstib.com 80% LTV
08/11/2010 4.125% w/ $600 lender fees total www.firstib.com
ARMs, 5/5, No Points
12/06/2007 5.5% (jumbo is the same)
12/13/2007 5.625% (jumbo is the same)
01/09/2008 5.125% at www.penfed.org (jumbo is the same)
01/15/2008 5.0% at www.penfed.org
02/10/2009 4.625% at www.penfed.org
04/08/2009 4.50% at www.penfed.org
05/22/2009 4.625% at www.penfed.org
06/03/2009 4.875% at www.penfed.org
10/01/2009 4.500% at www.penfed.org
5/5 ARM Calculator (Many calculators will not accept an adjustment period more than 36 months. -khtc)
30 yr, Jumbo, No points
12/07/2007 6.375% at www.penfed.org
12/11/2007 6.5% at www.penfed.org
12/13/2007 6.375% at www.penfed.org
12/14/2007 6.75% at www.madrate.com
12/14/2007 7.00% at www.wellsfargo.com
12/14/2007 6.5% at www.penfed.org
01/07/2008 6.125% at www.penfed.org
01/08/2008 6.0% at www.penfed.org
01/15/2008 6.125% at www.penfed.org
01/22/2008 6.0% at www.penfed.org
01/23/2008 5.75% at www.penfed.org
01/30/2008 6.625 at www.penfed.org
01/31/2008 6.5% at www.penfed.org
02/28/2008 6.0% at www.penfed.org
05/27/2008 6.125% at www.penfed.org
09/09/2008 5.5% at www.navyfcu.org
12/10/2008 5.375% at wellsfargo.com (through broker)
12/12/2008 5.75% at www.penfed.org
12/17/2008 4.625% at indymac.com (0.375 rebate)
30yr, FHA, No Points
3/12/2009 4.875% at http://www.wachovia.com/mortgage/rates.html
3/20/2009 4.5% ( .25% points) at http://www.wachovia.com/mortgage/rates.html
I have received a lot of emails from purchasers asking what documents they will need to get together when buying a house. Listed below are most of the items that would cover 95% of most purchases:
Copies of last 2 years W2 forms (salaried) or federal tax returns (self employed, commissioned) for each person who will be a borrower on the loan (most likely the last 1 year will be fine, but I always ask for 2 just in case, and especially if income has gone up or down substantially during that timeframe. For tax returns, include any schedules or attachments, not just the first 3 pages, as we need to see all writeoffs / deductions.
Copies of one month's worth of pay stubs.
Copies of the most recent month of bank statements for every bank account, IRA, 401K, or stock account that will be on the application.
A copy of the back and front of your canceled earnest money check. Contact the bank if this has not yet come through.
Copy of the sales contract and all riders. You'll also need both brokers' names, addresses, and phone numbers, and the same information for your attorney or title company you will be using for the closing.
If you are selling a current residence, you will need to provide a copy of the listing agreement and, if the home is under contract, a copy of the sales contract. If th funds from the sale will be the downpayment on the new house, you will need to provide a copy of the HUD-1 Settlement Statement showing you in fact received "X" funds at closing so it can be included as a source for downpayment.
If gift funds are involved, the giver must provide proof that he or she had that money to give, such as a copy of the giver's recent bank statement. You must then show the paper trail for the money, including a deposit slip. The sonor will have to fill out a gift letter affidavit (which we as the lender provide) indicating that the funds were a gift and the gift giver does not expect repayment.
Complete copies of all divorce decrees if divorced.
All info regarding your employers and where you have lived for the last two (2) years.
If you have made any large deposits (i.e., larger than your monthly income) into your bank accounts that will show on the statements, you will need to provide an explanation as to where the funds came from with proof. So if you make $60K per year and there is a $20K deposit into your checking account, we need to show where it came from.
Documentation to verify additional income, such as Social Security, child support, and alimony.
If you have had a previous bankruptcy, bring a complete copy of the bankruptcy proceedings, including all schedules and a letter explaining the circumstances for the bankruptcy.
If you have any judgments against you, you will need to provide a copy of recorded satisfaction of judgment, and copies of documents describing any lawsuits with which you are currently involved.
