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Non-Cattle Specific Topics
Every Thing Else Board
Financing Land
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<blockquote data-quote="TexasBred" data-source="post: 516493" data-attributes="member: 6897"><p>ETF if it's a fixed rate your looking at the folks your talking with don't have to tie the rate to anything. The board simply sets the rate. If it's an ARM they know darn well what they intend to tie it to but may not know what YOUR rate will be until you get closer to closing. Folks I've dealt with in the past would quote me a rate they intended to stick with BUT if the index and their rate went down before we closed they would go down on my rate. May be different now with all the problems in real estate lending.</p></blockquote><p></p>
[QUOTE="TexasBred, post: 516493, member: 6897"] ETF if it's a fixed rate your looking at the folks your talking with don't have to tie the rate to anything. The board simply sets the rate. If it's an ARM they know darn well what they intend to tie it to but may not know what YOUR rate will be until you get closer to closing. Folks I've dealt with in the past would quote me a rate they intended to stick with BUT if the index and their rate went down before we closed they would go down on my rate. May be different now with all the problems in real estate lending. [/QUOTE]
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