The average american home price has gotten out of hand

[Rmtt]

Originally Posted by spazzyfry123

You guys are killin' me. I'm from north Georgia and recently moved to north Florida. We knew Florida was going to be a temporary deal with the next "permanent" move being east Tennessee or Greenville type area. Of course the news in the pipeline is that the job I want should be opening up in the Greenville area here soon...

You're in the medical field I believe?

My daughter had a job before she graduated here in Spartanburg and an offer with Prisma Health in Greenville.

She picked Spartanburg as Greenville can get busy to get into during working hours.....well before the virus. Plus they are finally upgrading the interstate to free up congestion.

Plus a lot of people live in between and commute as BMW is in the middle.

She actually had plans to move to NC as she was accepted into Duke's graduate program....but now that's up in the air.

[spazzyfry123]

Originally Posted by Rmtt

You're in the medical field I believe?

My daughter had a job before she graduated here in Spartanburg and an offer with Prisma Health in Greenville.

She picked Spartanburg as Greenville can get busy to get into during working hours.....well before the virus. Plus they are finally upgrading the interstate to free up congestion.

Plus a lot of people live in between and commute as BMW is in the middle.

She actually had plans to move to NC as she was accepted into Duke's graduate program....but now that's up in the air.

Yep! I’m regional, so I’ll be in a lot of different hospitals. Not the “typical” commute, so I’m interested in a central location that I want to live in and be near things I want (mountains, good roads, water, outdoorsy stuff, and can get to the best race tracks - didn’t realize how spoiled I was being so close to Road Atlanta in the past). We’ve been talking of East Tennessee for a long time (Johnson City area) because it checks so many boxes, isn’t outlandishly expensive, and we’ve become keen to no income taxes

Best of luck to your daughter. Despite the situation, Duke only makes money if they have students. They’re a bright bunch; they’ll come up with an alternative way to take her money.

[Kev0]

I'm in escrow right now on a 750k turn key house in Lakewood, CA. Haven't locked in a rate yet. My advisor wants to lock in at 3.25% or lower. He told me to wait because a Wall Street sell off is predicted and will force the rates down. The credit union he works for offers 3% down for a conventional jumbo Loan. My coworker closed on a 765k house with 3% down and 3% rate conventional with no buy downs at 0 points with the same credit union back in February I think. They specialize in jumbo loans. Oh yeah, only 995 processing fees. The advisor doesn't make any money off of me since he works for the credit union. I went through a broker before him and the broker added over 3k of her 6k commission in our closing cost and tried to sell us a 3.25% rate. I will save thousands by going with this credit union.

[rcracin]

Originally Posted by Kev0

I'm in escrow right now on a 750k turn key house in Lakewood, CA. Haven't locked in a rate yet. My advisor wants to lock in at 3.25% or lower. He told me to wait because a Wall Street sell off is predicted and will force the rates down. The credit union he works for offers 3% down for a conventional jumbo Loan. My coworker closed on a 765k house with 3% down and 3% rate conventional with no buy downs at 0 points with the same credit union back in February I think. They specialize in jumbo loans. Oh yeah, only 995 processing fees. The advisor doesn't make any money off of me since he works for the credit union. I went through a broker before him and the broker added over 3k of her 6k commission in our closing cost and tried to sell us a 3.25% rate. I will save thousands by going with this credit union.

Mind sharing the credit union over PM?

[RickFLM4]

Originally Posted by Kev0

I'm in escrow right now on a 750k turn key house in Lakewood, CA. Haven't locked in a rate yet. My advisor wants to lock in at 3.25% or lower. He told me to wait because a Wall Street sell off is predicted and will force the rates down. The credit union he works for offers 3% down for a conventional jumbo Loan. My coworker closed on a 765k house with 3% down and 3% rate conventional with no buy downs at 0 points with the same credit union back in February I think. They specialize in jumbo loans. Oh yeah, only 995 processing fees. The advisor doesn't make any money off of me since he works for the credit union. I went through a broker before him and the broker added over 3k of her 6k commission in our closing cost and tried to sell us a 3.25% rate. I will save thousands by going with this credit union.

Try asking your advisor if he’s shorting the market in anticipation of a sell off. No one can predict what happens next in the market or how exactly it will impact rates. Could have a sell off. Could have a rally with news of treatment / vaccine progress, government stimulus, or other factors. Very hard to predict short term movements or we’d all be billionaires. Good luck.

[Kev0]

Originally Posted by RickFLM4

Try asking your advisor if he’s shorting the market in anticipation of a sell off. No one can predict what happens next in the market or how exactly it will impact rates. Could have a sell off. Could have a rally with news of treatment / vaccine progress, government stimulus, or other factors. Very hard to predict short term movements or we’d all be billionaires. Good luck.

I will ask. I kept bothering him about locking in a rate soon because I'm worried that we'll have to lock in a higher rate before we close escrow on July 2nd. I trust that he'll lock in a reasonable rate with 0 points for us though. As of lately, rates have been flat. Don't believe all these articles and advertisements that offer 3% or lower. You either need 20-30% down with 800+ credit score or buy the advertised rate.