Looking to shop for a mortgage. Purchasing <$1m home in San Jose. What is the average interest rate as of this week? If anyone has a good recommendation (a specific contact) please message me! Or if you know a certain bank/broker/credit union that will give the best deal, please post here.
Keep rising. Was 4.5 but it is 4.65 for 30 years. Lock up quickly. It will go up more.
Go for ARM 5
Why 5/1? Does it make sense even if I’m going to hold the house for life?
Isn't the rate a lot lower? In the UK nobody chooses lifetime rates so they're not available now, instead we choose 2/1 or if we have paid more off then 5/1...a few choose 10/1 but most don't offer this option as it's not popular. My 5/1 rate is only 1.29%
Look at the Zillow mortgage marketplace. My loan through some no-name loan firm was a point below my local banks, and was immediately bought by one of them for servicing.
My new fav is better.com not sure if it is available where your purchase is though. Totally worth checking out.
www.thirdfederal.com