any weaseling around a locked rate?

I locked for some 90 days back in April @ 5.5% (bought 0.5% so really 6%). The fee to do this was 0.5% or $2,000 + $2,000 for the bought points.

There’s no float down option. I fully understand that I took a gamble and lost.

That said, is there any way to weasel around this since technically rates are 100 basis points lower than my locked rate? Can I buy my way out of it? Or should I just keep it and aim to refinance in 6 months if able?

submitted by /u/soberbruhh
[link] [comments]

I locked for some 90 days back in April @ 5.5% (bought 0.5% so really 6%). The fee to do this was 0.5% or $2,000 + $2,000 for the bought points. There’s no float down option. I fully understand that I took a gamble and lost. That said, is there any way to weasel around this since technically rates are 100 basis points lower than my locked rate? Can I buy my way out of it? Or should I just keep it and aim to refinance in 6 months if able? submitted by /u/soberbruhh [link] [comments]

<a href="Read More“>View Full Article

Need More Commercial Real Estate Leads?SAVE 40% this month!

Our commercial valuation calculator was created to evaluate commercial real estate. In 6 quick steps you will know your NOI, CAP RATE, and IRR.

Now you can get your own branded version of our calculator!