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SweetCin
My green-eyed boy
Member since 5/05 13499 total posts
Name:
Cin
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Q: Closing next wk...locked in but now
the mortgage rates are so much lower, can we still change our rate or is it too late?
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Posted 9/12/07 5:10 PM  |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: Q: Closing next wk...locked in but now
I think banks will let you change but I think it depends on the bank.
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| Posted 9/12/07 5:23 PM |
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SweetCin
My green-eyed boy
Member since 5/05 13499 total posts
Name:
Cin
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Re: Q: Closing next wk...locked in but now
It's Bank of America...DH said we can't w/o doing a whole new application but that doesn't sound right.
We're obviously locked in...currently at about .14 of a point higher but also w/o the 1/2 point we're paying
Anyone???
Message edited 9/12/2007 5:52:13 PM.
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| Posted 9/12/07 5:51 PM |
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MrsPowers
So blessed!
Member since 11/06 10348 total posts
Name:
Ivelysse
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Re: Q: Closing next wk...locked in but now
I don't think you can change once you locked in. Can you call the mortgage person at the bank?
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| Posted 9/12/07 7:49 PM |
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lakrav
LIF Infant
Member since 8/07 89 total posts
Name:
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Re: Q: Closing next wk...locked in but now
You can usually pay a fee to float down the rate. Ask the person doing the rate how many months it would take to break even. If it is more then you are planning to live there, it is probably worth it.
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| Posted 9/12/07 7:55 PM |
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leese
Sarge!
Member since 5/05 1965 total posts
Name:
Leese
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Re: Q: Closing next wk...locked in but now
Usually you can pay a fee to change your rate. Sometimes, with some banks, they will give you a rate that is in between their "website" rate and the rate you are paying for free. It doesn't hurt to at least ask.
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| Posted 9/13/07 9:01 AM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Q: Closing next wk...locked in but now
Congrats! Where did you end up buying? I remember talking about the Islip area with you!
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| Posted 9/13/07 9:14 AM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: Q: Closing next wk...locked in but now
Cindy - contact Bank of America and the rep that you're working with and see what they say.
I know when we locked in with HSBC, they couldn't change it once we locked it, but each bank is different.
Always worth a shot to try!!!
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| Posted 9/13/07 9:32 AM |
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snowprincess
My happy babies
Member since 3/06 3428 total posts
Name:
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Re: Q: Closing next wk...locked in but now
alot matters on your contract - when you locked in - some allow one float down - talk to the person
we had to lock in 9 months in advance - we were allowed one float down within 30d ays of close - and could switch from ARM to fixed
we used wells fargo
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| Posted 9/13/07 9:39 AM |
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