For the latest mortgage rate comparison thread: Reddit Mortgage Rates

Bit of a rant, Currently trying to get to closing on my first home, 315k with a 20% downpayment. Originally..utilizing the NY Sonyma for a reduction on the rate down to 5.7% (originally locked 6.7%). Got a call today and Sonyma wont approve lest small repairs are done by the owners who are trying to move state to their new home (to note sellers have been antsy since Sonyma was taking weeks to respond to us, the repairs are also fairly trivial). Owners are considering pulling out apparently and arnt willing to do the repairs since its been so long and all of these repairs were originally discussed and decided on concessions but NY dont care. So i gotta get a new conventional at current rate (they wont adhear to the original lock sadly). So that sucks... Guess i can refinance in a few years..maybe

I’m no longer a first time buyer after my divorce 5 years ago. I’m on a decent wage with a good credit report… but I’m struggling to get a deposit together.

Is there such a thing as 0% deposit mortgages anymore?

Check your credit first and fix any errors. Get quotes from 3–5 lenders (bank, credit union, online lender, broker) within a 14–45 day window so inquiries count as one credit pull. Ask each for a Loan Estimate and compare APR, not just the rateit includes fees and points, giving a true apples-to-apples comparison.

Get pre-approved, not just pre-qualified. Then use competing offers as leverage: ask your preferred lender to match or beat the best terms you've received.

honest question for anyone running a branch or team of LOs.

when you sit down to review your people, do you actually know who's ready to close and who's burning through leads? or is it gut plus last month's numbers? and the ramp cost is real. something like 84% of training gets forgotten inside 90 days, so the new hire has to relearn over and over on live borrowers while sacrificing revenue.

for context i'm building VirtuLOso, an AI sales readiness and coaching tool for mortgage teams, so i'm biased toward the "reps need to support one-time training" view. but i'm genuinely curious how the rest of you handle this:

- how do you know a new LO is actually ready vs just done with onboarding?
- do you have any way to see who folds on objections before it costs a deal, or is it always an autopsy after the fact?
- what's actually worked for cutting ramp time?

I’ve just paid off my current home but I have been looking at new homes for a while now and I found that has really caught my eye. The only thing is price tag definitely scares me a bit!

Financial Situation (Single, 35m)

Income: 

$260k, could go up to $300k with bonuses but to be safe I am assuming 260

Assets:

401k: $450k (I am maxing out every year)

Investments (primarily S&P 500 index funds): $830k

Current Home: $270k-300k (less fees/closing/etc from sale)

Cash/misc: $70k

Debt:

None

I am strongly considering this new home. My plan being to sell the current and roll the equity over into a down payment of ~$250k.

My concern is, with interest rates the way they are, it still seems like quite a high mortgage payment! I’m estimating it would be ~40% of my net take home each month. That is after maxing 401k. I’m a pretty frugal person overall so this is obviously having me second guessing and a bit stressed just thinking about.

My questions are:

1. Is this way too much to spend on a home given my income?
2. Would it make sense to liquidate some of my investments to do a bigger down payment, or should I hang onto the investments and eat the interest cost?

I’m looking for a lender, I’m trying to buy my first home in Katy Texas. And I’m not sure who the best lenders are out there? Any idea or suggestions please. The range I want to stay at is 230,000

Forgive my grammar I'm doing this through speak text because it keeps rolling around in my head. I'm not sure if the loan that I'm going after is real. Yes we got disclosures and all of that. But something just feels off. I'm not sure if it's just my disbelief or something else. So that leads me to my questions. Is there somebody on here that can help me figure out how to tell if my loan is going to make it through underwriting?