Google tells me it's a bit over 5% with really good credit. Is that right? I know they've been creeping up, but that seems high.

We locked (90 day) last week at 5% at 0 + .875 points

There are a lot of factors that go into rate so it truly is hard to say without more details. I am still pricing loans in the 4s, but lenders price out loans differently.

Rates have definitely continued to increase for quite some time now. I'm not sure where they will be going from here but holding on steady for a wild ride.

30 year jumbo construction loan, 3.75%, no points. March 19 at Prosperity Bank.

My construction loan rate is at 4.5% and this was locked in in the late fall. I wish I would have gone with another lender (and I did intend to) but I was pot-committed with my time-frame.

Second home. Was quoted 6% if I pay a point. 5.875 if putting 25% down.

Prosperity isn't that low anymore on a 1x construction to permanent loan. I locked in with them last week before the rates increased again on April 1 and current options as of March 31 was 4.25% on a fixed 30 or 3.5% on a 10/1 ARM both with no points.

I'm still trying to decide which option to go with as this is our home for the next 25+ years so 30 year fixed is appealable and 4.25% is a good rate historically but getting 75 basis points cheaper for the first 10 years is real savings. I plan to have home paid off sometime between 15 to 20 years. Appreciate thoughts from others on this board as to what interest rate option to choose.

Animal Eight 84 said:

---

30 year jumbo construction loan, 3.75%, no points. March 19 at Prosperity Bank.

---

Do you have a contact at Prosperity bank?
If so please PM me
I was in Animal Eight years ago
Thanks

For Fannie Mae rates, there is some transparency in the process.

Here are the commitment rates:
https://singlefamily.fanniemae.com/imported-content/ape-historical-yield/current-30-year-fixed

So 60 day commitment today is 4.25%.. then..

Here is the Loan Level Pricing Adjustment sheet
https://singlefamily.fanniemae.com/media/9391/display

Example: for a primary residence purchase with 740+ credit score and 20% down add 0.50%

Then maybe add another 0.25% for the lender being awesome and there you have 5.00% for a 30 year fixed mortgage.

74Ag1 said:

---

Animal Eight 84 said:

---

30 year jumbo construction loan, 3.75%, no points. March 19 at Prosperity Bank.

---

Do you have a contact at Prosperity bank?
If so please PM me
I was in Animal Eight years ago
Thanks

---

"Give 'em Hell Animal ! "

I found out today, talking to my banker, they've raised rates twice since I locked in March 19.
Unfortunately 3.75% 30 year jumbo is apparently ancient history.

The loan level pricing adjustments (LLPA) in the links rockon provided are adjustments to price (discount cost) of the loan not the rate. Pages 2 and 4 show the LLPA for second homes and investment properties. 20% down payment on either type loan carries a 3.375% discount cost LLPA. This is why the fixed rate agency loans for both types of property are so high right now.

That's ok
Need a loan person I can apply to before rates go up again
Can you PM me name and contact information
Thanks

74Ag1 said:

---

That's ok
Need a loan person I can apply to before rates go up again
Can you PM me name and contact information
Thanks

---

I recommend you go to the Prosperity branch nearest you.
My BCS banker is Wes Wilson, he is an Aggie.
979-680-5554
Pleasant, Very helpful and thorough answering questions.

Thanks

Howdy Animal Eight 84! Did you get it all worked out? If not, give me a shout and I will try to help. rpm-mtg.com/bbazar