I cant say what the rate is based on your Lender.
If I wrote the Loan today for someone qualified, no points 3.375 Edited to add : and a 3.45 APR with a 620 mid score
We are a different type of company. We dont charge for many added on things that many Lenders, LO's, and Brokers charge (application fees, credit report pulls, processing fees, as a few examples), and we "try" to give all our clients the par wholesale rate. We work more on volume.
If I wrote the Loan today for someone qualified, no points 3.375 Edited to add : and a 3.45 APR
That number looked awfully familiar haha so I pulled out all my paperwork and we were actually quoted at 3.375% as well, not 3.125% as I previously said.
We were quoted at 3.25% when we began this process in January. Pending credit score hitting a mid of 640. I knew I'd hit this since all my cards were near max at the first pull. Friday, she sent me a draft GFE with 3.50% with no locked in date. She said she'd send me one after she gets the signed contract from realtor, which she just got yesterday. I also see she pulled my credit again yesterday so I hope to find out soon what my rate is. She did email me just now to say that for me not to worry my mid hit 647 - so I'm in! Now cant wait to see what my locked in rate will be - I'm sure she's preparing everything now so I hope to hear back soon.
UPDATE ALREADY: just got GFE and it is at 3.50% and came with ALL kind of documents for me to sign and I also need to prepare LOE. So here I go!
We are going back into DU today, can't wait to see what my scores are at. We gotta lock in the rate, and they have gone up
I just noticed you said "going back into DU"...so you mean they put you back through Desktop Underwriter again? Like you're doing this for the first time? I thought on the second go-around, they were just looking to update your bank statements and such to make sure nothing has changed, I didn't know they actually run DU again. DU can ask for all kinds of new conditions, no?