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Does anyone know if mortgage interest rates are dropping on the island as they are in the states? Are the banks on the island refinancing? If not, do any stateside banks refinance island mortgages?
Thanks,
Tam
Posted : December 16, 2008 12:23 pm
Scotia Bank is about 5.9 to 7.5 on 15 year mortgage, refinance. I hear it will drop after the first of the year.
Posted : December 16, 2008 2:46 pm
Bumping for any new info.
Posted : March 31, 2009 7:16 pm
I am in the middle of a refi. Looking at 4.875 or so for a 30, 25, or 20 year fixed. My curent rate is 6.25 and that was from 2 years ago. That is with an excellent credit rating. I use Bryce at First Liberty Mortgage for my financing, he's great.
Hope this helps.
Sean
Posted : March 31, 2009 7:49 pm
Do you know if they require 80% LTV and what type of fees are you expecting?
Thanks.
Posted : April 1, 2009 2:18 pm
I did my original with 10% LTV but had to pay PMI of $113/month. I have worked hard to pay it down so that I have 20% in so no more PMI.
As for fees, I don't know yet on the re-fi, I don't remember the fees being anything higher than usual though on the original mortgage.
Sean
Posted : April 2, 2009 5:47 pm