Rate Quandary Homepossible Owner-Ocuppied Triplex Deal

[Bryan Schmitt]

Hello all,

I have a lender who I really like. He did my first deal. A quad owner-occupied on Home Possible. Now we under-contract on another triplex, a year later. He is a rock star, and I know he will get this done for me.

My question is regarding rates. I have been floating white knuckled watching this whole thing unfold in the markets. When we started in mid-February for 200k purchase 5% down he gave me a rate of 3.75. Then on Feb 28th, it was 3.5% with 0 points, 3.625% with $750 back. Then on March 4th, 3.500% – 0, 3.625% - $1,000 cash back, 3.750% - $1,750 cash back.  No further changes.

With where I am at, a nice credit would be a Godsend, given that I am just on the back of my other deal.  I plan to go that route, as the numbers work at 3.75%.  I know that the market is unpredictable and particularly volatile now. I am just surprised that things have held steady since Wednesday's quote with what is going on. I have to commit by the 20th. Any insight would be appreciated.  I am not sure if my particular lender is just slower to adjust, or if I am simply being greedy, as I am lucky to have seen such a decrease in the first place.  Thanks all!