Mortgage Rates


#203

Yeah, I am very surprised too. Maybe they are trying to get googler’s business? Anybody recently got a loan from chase or bofa?

I am somewhat locked with my current lender due to very short closing requirement i am having, but this sounds very big difference.


#204

Family working at Google bought a house in 2015 and she got 1/5 or 1/4 discount from citi.


#205

Yeah it’s too big to ignore assuming you too can negotiate similar terms


#206

Told this to my mortgage person, he asked the other mortgage person’s name & bank. I will try to get more info.
Maybe i can get them to compete somehow haha


#207

:+1:


#208

Another person reported 3.625/25down/0points/30years from WF, but mentioned a lot of negotiation.


#209

Are these guys keeping a large amount with those banks.?


#210

no idea, but didn’t look likely.


#211

I am surprised too!

I had a friend at Facebook who was buying a house last year. I recommended my mortgage lender at Wells Fargo and he got a preapproval, but he told me he probably wasn’t going to use him because First Republic had a special deal with Facebook and they got extra low rates blah blah. He was just using Wells for a backup preapproval. When they were in escrow my Wells Fargo guy got him 3.25% fixed 30 yr. FR couldn’t beat that. He went with Wells. He did have much more than 20% down though.


#212

wow…


#213

Last year 3.25 was possible. I got that with Citi but needed to open an account and deposit some funds.


#214

Lowest i remember is 3.125. that’s how long i have been looking :slight_smile:


#215

Lowest I remember for refinance was 3.25/0 closing in early-mid 2016. Needed 35-40% equity.


#216

usually u will get discount of 1/8 for 250k and 1/4 for 500k , if you move the assets to bofa/wf


#217

I heard of similar rate but it’s not 30 year fixed. It was 7/1 arm.

A lot of work to get a loan, both purchase and refi


#218

Trying to shop for the lowest rate is fine, but if you want more money in your pocket the better way is to buy another investment property.


#219

Ok I am getting a bit more clarity:
WF person mentioned this quote was 2 month old (he didn’t fully read the original question about “recent” rates :))

Bofa person mentioned this quote was from last week for a nyc property.


#220

Anyone have any experience with low refinance rates recently?


#221

no just checked a couple days ago, they are all higher than when I refi’d back in 2013.


#222

"The vested RSUs converted to cash in the previous two years will be included in the qualifying income. To ensure that RSU income will continue, the borrower will be asked to provide evidence of the additional vested and unvested RSU awards that will be held and that have not been converted to cash. "

That’s weird. That means if you don’t sell your RSUs each year, then you can’t use them for mortgage qualification. I guess you could always sell to convert to cash for mortgage qualification then repurchase the shares.