My next mortgage

That's tough these days. Almost no lenders will do a second to 100%. You'd be best off keeping your current second. If you go to 100% TOTAL, the first mortgage rate is hit hard. 6.125% on a 5/1 IO with no points. Paying 1 point would get you back down to 5.375%. May be worth it in this situation.

This is for 700+ credit.

 

Thanks. I kinda figured I'd be SOL on the piggyback. That's ok - I can come up with the 20%. I was just thinking that if I am gonna play with other people's money I might as well go ahead and borrow 100% if possible. It's not worth it to go over 6% and have to start paying points though.

The rates you posted earlier are pretty much what I've found through surfing. Close anyway.

 

Is this still true? Some things have changed since I started this thread and we may want to do our part to help the economy.

 

Our bank is offering 15 yr mortgages @ 4%.

That's four percent. Four. I thought it was a misprint.

 

Great freaking offer if you can afford the shorter ammortization. Oh yeah, check the fees. Fees, etc can make the APR jump considerably higher than the advertised 4%.