Bear's Method

There is a method to my madness. I speak to a lot of borrowers. I know I can get caught up in my craziness and will bounce from one topic to another. It's part of my charm. I have to toot my own horn and use it as an example.

Rates are bouncing all over the place. For weeks they can sway slightly back and forth or in a day drop or rise tremendously. As I've told many borrowers, let's get the loans into the system and be ready for the one or two days that rates drop. We can always flip the loan elsewhere or in some cases lender are renegotiating rates so that they can keep the loan.

I say this because not everyone listens to me. But I just did this for a borrower who did listen to me. We had the loan sitting at the lender for about two months. We set a goal for the rate and points that this borrower wanted to get and spend. The day that the market tanked a few weeks ago we where able to get that rate, in this case an even better rate than what our goal was. We were able to lock on a short term lock and close the loan out. The plan worked perfectly. It takes patience but this can work. Sure enough rates have gone up since that one day.

So if you want a great rate and want to make sure we can get that rate if rates drop for only a day or two, listen to my madness. Get your loan information in and let's set a goal for the rate. And keep the goal realistic, no 3% with no points. If you want 4.5 with one point cost, that's doable (hell, it might be doable now). Then when that hits, I don't have to track you down. I'm not lying when I say sometimes these rates are only around for a few hours or a day.