posted September 2, 2010
Dallas refinance rates are 3.75%
Now that mortgage rates are the 3-4% range this is an ideal time to refinance or buy.  We are getting lots of calls on 15 year mortgage rates which are in the 3.75-3.875%.  30 year rates are 4.375%-4.5%.Â
Naturally, you can buy the rate down to whatever rate you wish but sometimes that doesn’t really make sense. Every point is 1% of your loan balance so if you’re home loan is 300K, each point is $3,000. Â
Does it make sense to spend an extra $3,000 to save $50? Maybe.  But when you consider it will take you 5 years for to justify that buy-down point it really makes you stop and think, doesn’t it.
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posted August 30, 2010
Dallas Mortgage Refinance: Mortgage Rates for 30-Year Fixed Decline to Record 4.36%
http://www.bloomberg.com/news/2010-08-26/mortgage-rates-for-30-year-loans-decline-to-record-4-36-freddie-mac-says.html
Bloomberg.com reports that mortgage refinance rates fell to a record, extending a two-month tumble in borrowing costs for homebuyers as property demand slumps.
The average rate for a 30-year fixed mortgage dropped to 4.36 percent in the week ended today from 4.42 percent, Freddie Mac said in a statement. That was the lowest since the McLean, Virginia-based mortgage finance company began compiling the data in 1971. The average rate for a 15-year fixed mortgage was 3.86 percent.
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posted August 27, 2010
Dallas Mortgage Refinance: Interested in the best mortgage rates with the lowest closing costs?
Currently, Bank of America is offering 30-Year fixed mortgage rates at 4.87% with an additional 1.00% for closing costs. Charging additional points for closings costs in common practice with major lenders. You don’t have to pay additional points to get low mortgage rates! We’re a “No Point” lender! View our straight forward closings costs here!
Whether you’re interested in a mortgage refinancing, a new home mortgage loan or a home equity loan, we’re available to help! Give us a call today! We help people all over Texas buy and refinance their home loans.
We also help a lot of people with their Texas cash out loans (for debt consolidation) and No PMI, even to 95%. (80/15/5)
If you’re looking for the lowest mortgage rates call us for a free quote.  Retail banks like Bank of America, Chase, Wells Fargo home mortgage have huge overheads and simply must charge more for their mortgages.  This is why they charge application fees and points. Often, we can offer better rates and lower closing costs than any of the major Big-Box Banks.
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posted August 26, 2010
Dallas Mortgage Refinance: Should you let the bank escrow and have higher closing costs or self-pay them and reduce your closing costs?
When you refinance, you will get a refund from your current mortgage company for this year’s escrow balance.  Normally you get this 30 days after your new loan starts or the old loan stops. However, if you escrow the new loan and want to roll closing costs AND pre-pays into the new note, your loan amount will be higher. Therefore you’ll have a higher payment. Another option is coming to closing with your new escrow.
It’s important to remember why you’re refinancing in the first place… to lower your payment and/or principal interest as much as possible.
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