Author Topic: 2.875 No Cost Refi (30 YR Jumbo)  (Read 1757 times)

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Offline baconpark

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2.875 No Cost Refi (30 YR Jumbo)
« on: May 07, 2021, 12:59:57 PM »
Just got quoted by Watermark Loans. Who else should I call?

Offline qwerty

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #1 on: May 07, 2021, 01:30:25 PM »
Talk to Soylent Green is People or Cares, they are brokers here on TI

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Offline akkord

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #2 on: May 07, 2021, 01:32:45 PM »
I'd call both Lenderfi and Owning and pit them against this rate and each other to see if they can beat it. 

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Offline zovall

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #3 on: May 07, 2021, 02:15:26 PM »
What amount and what LTV? Martin (USCtrojanCPA) sent me a contact at US Bank that was quite competitive.

If you have assets you can move over, some of the big banks (Wells, BofA, etc) have pretty unbeatable rates.
« Last Edit: May 07, 2021, 03:09:52 PM by admin »

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Offline Cares

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #4 on: May 07, 2021, 04:42:11 PM »
Jumbo loan rates are more credit score sensitive than conforming or high balance with smaller bands. Also LTV and loan amount matter. Feel free to PM me your details and I'll see what we can offer you.

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Offline sunflower

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #5 on: May 21, 2021, 05:06:47 PM »
I am also looking to refi a jumbo loan and the rate I got is from Watermark with 3.0% $1500 closing 30 year fixed.
Another agent offered me a bette rate but turned out to be a bait/switch.
Can anyone recommend a good loan agent preferably with a big bank?
Thanks!

Offline Cornflakes

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #6 on: May 21, 2021, 11:08:51 PM »
SGIP is pretty awesome and upfront about what he can and can not deliver.

I refi'ed my jumbo 3 months ago and got 2.5% 10-ARM, with zero points with Sunwest Mortgage.

Offline baconpark

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #7 on: May 27, 2021, 05:46:23 PM »
Locked with Ally Home Loans at 2.875%, no cost.
« Last Edit: May 27, 2021, 06:09:50 PM by baconpark »

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Offline sunflower

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #8 on: June 27, 2021, 09:27:02 PM »
After comparing rates from a number of lenders, I also end up refi with Ally. 2.875%, no cost, 30 year fixed, Jumbo.
Locked with Ally Home Loans at 2.875%, no cost.

Offline best_potsticker_in_town

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #9 on: July 01, 2021, 11:27:59 AM »
After comparing rates from a number of lenders, I also end up refi with Ally. 2.875%, no cost, 30 year fixed, Jumbo.
Locked with Ally Home Loans at 2.875%, no cost.

Ally's website offered me 2.990. Did you have to contact someone for 2.875%?
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Offline Soylent Green Is People

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #10 on: July 01, 2021, 12:52:22 PM »
Every deal is different. Pricing is not fixed. If borrower A is in a Detached Condo with a 780 FICO score in the 92618 zip, and Borrower B is the same in the 90003 zip (LA County) there will be minute changes in price. Loan to value impacts things as well. One might be at 2.99 at 80% LTV, but 2.875% with a 59% LTV.

My advice here is to find the right rate with a lender you can move money over to for a better discounted rate. 2.99 at Quicken is not the same 2.99% rate at Citibank if you have $100k-$250k to move.  Also, ask what the cost is at 2.875%. If 2.99 is "fee free" but 2.875% is $2,500, perhaps it makes sense to pay the cost. If your breakeven point is between 2-3 years between no cost and a rate with costs, pay the fees.

My.02c
My .02c

SGIP

Offline baconpark

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #11 on: July 02, 2021, 02:35:15 PM »
The jumbo rates moved up in the past a couple of weeks. Take a look at this daily chart: http://www.mortgagenewsdaily.com/mortgage_rates/

Ally's 2.875% no cost offer was quoted when the overall Jumbo 30 Year Fixed rate hit the bottom (3.11) again back in May.

The previous time when this number reached 3.11 (new 52 week low) was last December.

[/quote]

Ally's website offered me 2.990. Did you have to contact someone for 2.875%?
[/quote]

Offline The California Court Company

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #12 on: July 02, 2021, 07:54:52 PM »
these rates are too high. With Better.com, they have $2k promotion from American Express, I can see 2.5% 30 year no lender fees for true conforming (<$548k). The $2k promotion will cancel most of other refi related costs, making it a truly no cost refi.
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Offline Irvinehomeseeker

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #13 on: July 02, 2021, 11:03:23 PM »
these rates are too high. With Better.com, they have $2k promotion from American Express, I can see 2.5% 30 year no lender fees for true conforming (<$548k). The $2k promotion will cancel most of other refi related costs, making it a truly no cost refi.

And I think 6k from Amex if you do Jumbo loan

Offline Irvinehomeseeker

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Re: 2.875 No Cost Refi (30 YR Jumbo)
« Reply #14 on: July 10, 2021, 10:59:43 PM »
I got a contact at Citi bank who can offer great rate for jumbo new purchase, even for long term rate lock. PM me if interested.

 

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