Comments on: Mortgage Market Update

By: juliet102

juliet102 — Thu, 21 Jan 2010 17:31:12 +0000

It only took us ten days, it was pretty quick.

By: AllieMichelle72

AllieMichelle72 — Thu, 21 Jan 2010 17:30:19 +0000

We’re looking in West Palm Beach and Boynton Beach. How long did it take for you to close on your place? I’d like to know how quickly things will move once we find something.

By: juliet102

juliet102 — Wed, 23 Dec 2009 01:45:43 +0000

Yes, I think they do have an office in Florida! But also they can do all the paperwork over phone or fax I think and then you can close at one of their offices or at your new house! Where in Florida are you looking?

By: AllieMichelle72

AllieMichelle72 — Fri, 18 Dec 2009 14:03:17 +0000

Does anyone know if Intercontinental Capital has an office in Florida? Or if they could do a mortgage for a house in Florida? My husband and I are retiring and moving down south but would love to work with a mortgage bank that has an office in New York, so we don't have to keep flying back and forth.

By: MartyandJudySmith

MartyandJudySmith — Sat, 28 Nov 2009 01:43:17 +0000

We closed! We did have to get a jumbo loan, but we closed at 5.5% which all our friends said was a great deal. Now we're going to need a loan for the furniture and decorating my wife will insist on…

By: juliet102

juliet102 — Sat, 21 Nov 2009 00:44:40 +0000

Yes I think if rates drop before you close you can adjust the rate. I believe, though, that rates are bottomed out or at least pretty close to it. I'm afraid if we wait any longer, we'll be looking back and saying I guess rates did bottom out. P.S. They're extending the conforming limits through 2010 — you may not need a jumbo loan!

By: MartyandJudySmith

MartyandJudySmith — Fri, 20 Nov 2009 20:33:46 +0000

My wife and I were looking into getting a jumbo loan with ICG. Do you know if we can lock in a jumbo rate and then adjust if it goes down?

By: juliet102

juliet102 — Fri, 13 Nov 2009 14:54:37 +0000

Well, actually they do seem to be getting lower. I was pretty annoyed because I just locked in but my lender said I can get the lowest rate the market hits before I close. Which isn't for six weeks, so I should definitely make out ok. But, I think only direct lenders allow you to lock in a rate and then take a lower one if the market moves that way.

By: joancampbell

joancampbell — Tue, 10 Nov 2009 13:47:22 +0000

Good to know that mortgage rates are getting low. Hope it's get stable there at the lowest.

By: juliet102

juliet102 — Fri, 06 Nov 2009 15:19:17 +0000

Looks like they did hit bottom, right? They won't be going any lower than this. I was able to lock in with my mortgage bank (Intercontinental Capital Group) at just under 5% so I think I should consider myself lucky.