# Home loan rate.
**URL:** https://forums.speedlife.net/t/home-loan-rate/63124
**Category:** NYSpeed Off Topic
**Created:** [February 16, 2009, 1:47pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124 "2009-02-16T13:47:54Z")
**Posts on this page:** 15
**Page:** 1
### Author:  [@Anonymity](https://forums.speedlife.net/u/Anonymity)
#### Post date: [February 16, 2009, 1:47pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/1 "2009-02-16T13:47:54Z")
I waited long enough, i locked into today. 4.25 30y fixed 60 day out close. When i was in the loan office and told them i wanted to put an extra 11k down they laughed at me. It only brought my payment down ~$65.00. Looks like i am getting more toys… like a deck…
Just wanted to say lock them in now boys… and dawn.
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### Author:  [@theblue](https://forums.speedlife.net/u/theblue)
#### Post date: [February 16, 2009, 1:49pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/2 "2009-02-16T13:49:33Z")
nice rate, sounds too low to be true… hopefully no points or other catches… what bank?
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### Author:  [@klug](https://forums.speedlife.net/u/klug)
#### Post date: [February 16, 2009, 1:58pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/3 "2009-02-16T13:58:10Z")
yeah mine is 6.5 you lucky bastard
edit: this is as of last month though
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### Author:  [@theblue](https://forums.speedlife.net/u/theblue)
#### Post date: [February 16, 2009, 1:58pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/4 "2009-02-16T13:58:47Z")
after looking around more… there must be points on this, way too low compared to any bank I can find.
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### Author:  [@klug](https://forums.speedlife.net/u/klug)
#### Post date: [February 16, 2009, 2:01pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/5 "2009-02-16T14:01:37Z")
well it was 5.25 when i got my mortg but my credit held it at a higher rate so it could have gone down since then. does location effect it as well
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### Author:  [@\_Karu](https://forums.speedlife.net/u/_Karu)
#### Post date: [February 16, 2009, 2:08pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/6 "2009-02-16T14:08:21Z")
extra 11k and the laughed at you? why?
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### Author:  [@Anonymity](https://forums.speedlife.net/u/Anonymity)
#### Post date: [February 16, 2009, 2:22pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/7 "2009-02-16T14:22:22Z")
yes, the seller had to pay the ~1.XX points. i had that in our contract over two years ago! Then we could buy 1 at $960 so we did.
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### Author:  [@theblue](https://forums.speedlife.net/u/theblue)
#### Post date: [February 16, 2009, 2:32pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/8 "2009-02-16T14:32:33Z")
and you didn’t think that might be something to note in the first post?
the reality is that @ no points you have a normal rate of probably 5-6% which is nothing special for the last year or so… it almost never makes sense to buy a points unless you’re going to live in the house for \> 10 years.
see: [http://www.bankrate.com/brm/Calsystem2/Calculators/InterestVsPoints/Default.aspx](http://www.bankrate.com/brm/Calsystem2/Calculators/InterestVsPoints/Default.aspx)
regardless, congrats on the house…
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### Author:  [@Anonymity](https://forums.speedlife.net/u/Anonymity)
#### Post date: [February 16, 2009, 2:46pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/9 "2009-02-16T14:46:42Z")
> [@theblue](#):
>
> and you didn’t think that might be something to note in the first post?
>
> the reality is that @ no points you have a normal rate of probably 5-6% which is nothing special for the last year or so… it almost never makes sense to buy a points unless you’re going to live in the house for \> 10 years.
> see: [http://www.bankrate.com/brm/Calsystem2/Calculators/InterestVsPoints/Default.aspx](http://www.bankrate.com/brm/Calsystem2/Calculators/InterestVsPoints/Default.aspx)
>
> regardless, congrats on the house…
true, true, guess i was a little happy. so i will break it down now.
lender:
NVR
Amount:
$180,XXX
Rate:
4.25 with point payed by the seller and one by me.
Term:
30 fixed VA
997 p&I
480 tax (will go down with my va discount ~150)
1,5XX with insurance
if the house was built two years ago we where looking at 1,800+
the reason the chuckled at me is b/c our savings is at 6% and our loan is at 4.25. and if we needed the money “home equ” we couldnt pull it out with a low rate.
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### Author:  [@theblue](https://forums.speedlife.net/u/theblue)
#### Post date: [February 16, 2009, 2:50pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/10 "2009-02-16T14:50:43Z")
edit, nevermind, P&I = principal and interest.
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### Author:  [@JustinH](https://forums.speedlife.net/u/JustinH)
#### Post date: [February 16, 2009, 3:12pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/11 "2009-02-16T15:12:54Z")
Where is this 180k house?
Buffalo?
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### Author:  [@Nikuk](https://forums.speedlife.net/u/Nikuk)
#### Post date: [February 16, 2009, 3:16pm UTC](https://forums.speedlife.net/t/home-loan-rate/63124/12 "2009-02-16T15:16:54Z")
> [@theblue](#):
>
> and you didn’t think that might be something to note in the first post?
>
> the reality is that @ no points you have a normal rate of probably 5-6% which is nothing special for the last year or so… it almost never makes sense to buy a points unless you’re going to live in the house for \> 10 years.
> see: [http://www.bankrate.com/brm/Calsystem2/Calculators/InterestVsPoints/Default.aspx](http://www.bankrate.com/brm/Calsystem2/Calculators/InterestVsPoints/Default.aspx)
>
> regardless, congrats on the house…
anonymity is a member of 1st Elitists of WNY. 😉
Dan, when we wiring the place?
and, how you doing? Been thinking about you. You didnt respond to the last text over the weekend, but i imagine you were a bit distracted.
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### Author:  [@justa4door](https://forums.speedlife.net/u/justa4door)
#### Post date: [February 17, 2009, 4:49am UTC](https://forums.speedlife.net/t/home-loan-rate/63124/13 "2009-02-17T04:49:36Z")
im still at 7% but i have that gay FHA 203k …BS
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### Author:  [@93dx\_hatch](https://forums.speedlife.net/u/93dx_hatch)
#### Post date: [February 17, 2009, 5:37am UTC](https://forums.speedlife.net/t/home-loan-rate/63124/14 "2009-02-17T05:37:00Z")
> [@JustinH](#):
>
> Where is this 180k house?
>
> Buffalo?
180k is assuming that he put nothing down, congrats on the purchase
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### Author:  [@Xander](https://forums.speedlife.net/u/Xander)
#### Post date: [February 17, 2009, 6:54am UTC](https://forums.speedlife.net/t/home-loan-rate/63124/15 "2009-02-17T06:54:05Z")
Sweet, congrats!
X…