Holy geez, are they low. And staying there. I'm refinancing my parents house, which is a tremendously gratifying feeling to be able to contribute something to the house besides carpet stains from well-timed high school keggers. EVERYONE should refinance their mortgage now even if you have no equity.
All of the mortgage lenders are backlogged with files. I've seen in a mortgage company, it's hectic. Everyone that is still in business has pared back every conceivable expense to survive the last two years and now their skeleton crews are trying to catch a swimming pool of applications with a dixie cup. It's taking about 22 business days just to get your darn loan approved. Funding is taking 4-5 weeks.
Give me a call or email and get your tax returns together, a 4.5% rate is in your future. My rule of thumb for easy mortgage qualification is that every $25,000 of salary will qualify for $100,000 for a loan. Talk to you soon.
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