Current 30 Year Rates? (Physician or regular)

[SpouseofDoc]

We are looking for a 30 year, no points mortgage with 20-40% down.

Curious to see what type of rates folks are getting around now? Seeing 3.9% - 4.1% currently - if you closed on a loan in December and have a better rate please chime in!

[Peds]

can you do 15 year?

[hightower]

I got a rough quote from my lender for a refinance recently (Chemical Bank).  They told me that 30 year rates in my area (midwest) would be in the 4.1% range and 15 year rates in the 3.5% range.

[cgossage]

On average this is what I’ve been seeing as well.

[StarTrekDoc]

Depends reAlly on conforming or not. 4 is about where you're going to get.

Try your local cu they may have preferred rates for docs

[DMFA]

Idk where you live or how much you want, but take this and plug-and-play.

https://www.bankrate.com/mortgage.aspx?type=newmortgage&propertyvalue=300000&loan=240000&perc=20&prods=1&fico=740&points=Zero&zipcode=64030&cs=1

[timpanda]

recently closed on a mortgage with us bank in November. I was quoted a 3.625% for a 30-yr with 20% down but ended up opting for a 7/1 ARM at 2.875

[DerekLava]

We just closed our refinancing this week. We were quoted around 4% for a 30yr but we decided to go for the 7/1 ARM at 3.375%.

[DMFA]

timpanda wrote:

recently closed on a mortgage with us bank in November. I was quoted a 3.625% for a 30-yr with 20% down but ended up opting for a 7/1 ARM at 2.875

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DerekLava wrote:

We just closed our refinancing this week. We were quoted around 4% for a 30yr but we decided to go for the 7/1 ARM at 3.375%.

Click to expand...

Can I ask why you guys went with adjustable rates? Planning on moving soon?

[DerekLava]

My wife is in year 5 of surgical residency and our 5 year ARM was going to be switching to annual adjustments. Since she is starting fellowship in the same area after that, we figured a 7 year ARM would bring us through fellowship and give us a 4-5year buffer to pay off loans. This is a solid house but not one we would be in for the next 30 years and the 3.375% 7/1 ARM vs a 4% fixed saved us about $125/month (HCOL area).

[timpanda]

My wife and I hope to put a more substantial amount towards the mortgage over the 7 years. We figure that we can refi after 7 years to a shorter term loan, if needed.

[I Find This Humerus]

timpanda wrote:

recently closed on a mortgage with us bank in November. I was quoted a 3.625% for a 30-yr with 20% down but ended up opting for a 7/1 ARM at 2.875

Click to expand...

regular or doctors loan?

[timpanda]

doctor's loan with ~15% down

[FIREshrink]

Try US Bank.

[thomashackett]

Did conventional loan at full limit at 3.75% for a second home, closed first week of December. I think my net credit from the lender after their fees was $2k. Used Sebonic Financial.