Just an FYI:
The current mortgage rates at HSBC:
30 Year FHA- 4.875%
15 Year FHA- 5%
30 Year Conventional- 4.875%
15 Year Conventional- 4.5%
^I am refinancing right now at 5.25. I may refinance in another month if I can get 4.875. lol
I did this, minus an additional half a point for being an employee :tspry: Shit, for 4% I almost borrowed double.
HSBC mortgage services is no longer giving out loans! Just got off the phone and they are done giving out loans for the year the rep said. IDK
JUAT?
Unless you accidentally called the subprime unit, HSBC Finance company, which was the old Household Finance, which stopped new loan originations due to losing their ass, that info is incorrect.
Yup that is what I did. I guess they are two different entities. Got off the phone with HSBC mortgage company and they couldn’t beat my best rate thus far. But they did just offer me 4.8%
I went through Creekside Funding in Elma. Claudia. She is super fast.
I thought that you had to normally drop your rate about 2% to having refinancing make financial sense?
^Yeah, .5 is not enough that is why I included lol. It does depend on your closing costs, etc. 1% could be enough.
I’d love to be able to remortgage my place, take the money and spend it however I want while paying back at sub 5%.
I may have to look into this.
How is your credit to do this? Banks are not just handing out $ like they use to…wait, credit irrelevant.
With 2 houses as colladeral, my credit is good enough. Dont worry about me home slice, I’m fine.
Actually as of 9-1-2009 it is harder to get a mortgage. Ask me how I know.
Yea I heard that in the past month, its even tighter than it was.
and justkarter, having collateral in todays lending is still hard to get…and don’t worry, i am not worried about you.
Just to update this. I just got a mortgage commitment from HSBC. 4.75 percent 30 year fixed. Closing next week.
Thats a great rate.
Can’t beat their mortgage anywhere. It is a bit of a process, but if you are in good financial standing the process is pretty smooth.
I cant believe rates were at 4.71 earlier this week for a 30 year fixed. Christ, why cant this be 2011 when I’ll be ready to buy a duplex.
I figured it out and the savings of a 100k loan w/20k down at 4.71% compared to 5.5% is about 18k over a 30yr loan. fml.