Why get 2% for 10 years if you can get 2.75% for 30?
I would agree long term is better to beat inflation.
My thinking is we wonât be in the home after 10 years. In this case, maybe it doesnât make sense to pay higher interest.
Youâd be able to use more of that borrowed money until you sell, since the monthly mortgage payments on the 30-year are much lower.
I suppose thereâs no chance youâll be there longer than 10 years or decide to keep it as a rental?
in CA, rental for expensive SFH is a money losing game. So no.
Maybe. With capped property tax increases, fixed low-interest mortgage, and rent always going up, it becomes profitable eventually.
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Rates also seem to be trending down. Theyâre near late-januaryâs rates at the place Iâm looking. (with around Jan 1 being the lowest rates there were.)
I wonder if this change is already priced in to new quotes or notâŚ
I was wondering the same, as there was a nice drop coinciding with this news. Donât know if anything else contributed to it.
This thread is long overdue for a bump, with rates having soared in the last year.
Plus, I have a selfish interest in getting current feedback from my fellow FDers. Weâre buying in Mecklenburg County, NC, due to close at the end of Mayâand itâs the first time Iâve been in the market for awhile. 
Oddly, lenderfi , per sullim4âs suggestion, came up with âsorry, no offeringsâ.
Will update the thread with anything interesting we find, and in the meantime, would appreciate any useful leads on outlying good deals.
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LenderFi offers loans in NC. I just tried my zip code in WA and noticed they also rejected my parameters were I to refi. I would try reaching out to them directly - Ryan Scholer (ryan@lenderfi.com) is the owner and he was super responsive for me in my 2 refiâs. They both closed in 8 biz days.
For a purchase loan though, I would not discount the value in using someone you can physically visit in case things go south or they become nonresponsive in the run-up to closing. My parents needed a bridge loan while their older property sold and went with Better last year. They were terrible - the property was poorly appraised with incorrect information that they refused to correct, and they excluded a bunch of retirement income that otherwise should have been valid under Fannie guidelines. The LO didnât give a ratâs behind⌠my wife and I ended up giving them a 30 day loan given that they were too close to closing to start the process over again.
We did close with Provident Funding using their online, direct to consumer offering in late 2018. They are sticklers but they know the rules and I doubt they would engage in the shenanigans above. If you want someone online I would recommend them - they will be cheap. Normally Iâd say definitely do a loan with a local lender and then just refi after 6 months, but who knows what rates will look like then.
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Thanks sullim4,
ITA on the value of responsiveness on a purchase mortgage. Iâm focused on finding local CUs with excellent rates, reached out to a few of the more promising candidates today. (Interestingly, my experience living in Washington for 20+ years was always that CUs were super easy to joinâpretty much always a back door. Not so here in NC, for some reason.)
Iâve already emailed Ryan, and will report back on any good leads I find.
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Four months! November-December was the time to cash out 
.
primary or investment? Just curious 
will be getting a primary VA loan in the next few months. Looking for a painless, least doc. loan. I plan on getting a small loan and paying it off quickly so rates are super important.
VA part is useful since Lennar wants only a $2K earnest deposit. This way if the market tanks I can back out w/o much harm (like in 2007!)
@jesselivermore , did you get the primary VA loan without issue? How did you feel about what you were able to get?
Would be great to see this thread revived.
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Ended up at 6.1% with UWM. My friend refunded half the VA 1.21% fee from his commission, with no other origination fees.
The problem is prepaying they applied a lot/bulk toward interest, but hopefully Iâll get it back when paid off (in 6mo.s) I should have said apply to principal
Congrats Jesse. How much down?
It seems at first blush like VA doesnât offer much advantage, even if you qualify for fee waivers, unless you want to put down the absolute minimum.
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yes, no $0 down and slightly lower rates/ no prepayment. most other buyer protections are avail. to astute buyers in other products, but mandated by VA
only advantage (that I almost used) is the appraisal contingency. Then I found out that appraisers collude with realtors to make sure the âprice is rightâ.
It did allow us to buy before selling bridge loan, but will cost us about $4K in VA fees+ $3K in interest (if I get prepaid interest back) for ~$700k loan
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