Posted by HisHughness on 6/30/12 8:22am
Msg #425177

How lenders determine your borrowers' interest rate

http://www.nytimes.com/2012/06/30/your-money/mortgages/how-to-get-a-mortgage-rate-that-starts-with-a-3.html?pagewanted=1&nl=todaysheadlines&emc=edit_th_20120630

Reply by MW/VA on 6/30/12 9:23am
Msg #425180

Thanks, Hugh--good article. It doesn't mention those who

happen to be in FHA or VA loans & can do "streamline" refi's with no qualifying. The majority of my work over the last couple of years has been those.
Also, now under the new HARP programs, more people will be able to refi out of higher rates. I've got one of those in process now myself. Yes, there are a lot of hoops to jump through, and I know enough from this biz to be very patient.

Reply by MikeC/TX on 6/30/12 4:44pm
Msg #425219

I'm impressed with the guy who was able to get a 3.5% refi rate on a co-op. There are a lot of banks that won't even touch a co-op loan, much less refinance one.