How low can we go? 30 yr fixed at 3.75% with no fees...

Last written quote I was given (2 weeks ago) showed the same rate 30/25/20. The amortization was changed, but not the Agency Coupon behind the loan.
 
Irvinehomeseeker said:
Got to know that Lenderfi  is currently only doing loans up to 510K.
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Not even doing high balance? Basically they don't want to lend to anything in LA?
 
OCLuvr said:
Is this rate for SFH and condominiums as well? What loan amount?
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Maximum loan amounts determined by Federal Housing Finance Agency's (FHFA) conforming loan limit for each California county. Disclosed rate assumes a $300,000 rate and term refinance loan on an owner-occupied single family residence in California. Minimum 740 FICO credit score, 50% loan to value with no subordinate debt. If these factors are not met, you may still qualify and additional pricing adjustments may apply. Subject to underwriting approval. Not all applicants will qualify.
 
One of my $1m+ buyers got a jumbo loan pre-approval with Wells Fargo on Monday at 2.75% with 0pts (20% down, 780+ FICO, loan amount over $800k+, primary residence purchase in Irvine). The rate may include a discount of 1/8% to 1/4% for moving some funds over though.
 
I called Owning to see what best rate they can do.
Their advertised rate on their website is the best rate which is 3.375% for Jumbo at no cost.  I am still at 3.125% from the Brexit Days in 2016 so I have to wait to see if it goes down to 2.75%.

I will check out Wells Fargo per USC's blog.

FYI, Owning rep. said = They don't Refinance for the "Self Employed" as of today.    Is this same for the purchasers?  That will cut off tons of potential buyers and who wants to refinance that are self employed.

 
Goriot said:
Their advertised rate on their website is the best rate which is 3.375% for Jumbo at no cost.  I am still at 3.125% from the Brexit Days in 2016 so I have to wait to see if it goes down to 2.75%.
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3.125% is really good for a 30 year jumbo.  I think the best would have been 3% for no cost recently.  If you move some assets over, you can get .125% rate reduction per $250k moved.  It is VERY important that you get these details when you hear about the rates people are getting.  I've seen some people say 2.625% and then later said they moved $1M over to get the rate that low.  Pretty useless data point.. 
 
Be sure to get a quote from raterabbit.com as well.  I got a website quote yesterday with a rate was 3.125% w/ $900 in fees (30 year, conventional).  About an hour later, I get an e-mail from the CEO -

I like your profile.  We can do 2.875% with a total cost of $900.00.  This includes all lender and third party fees.

 
woodburyowner said:
Be sure to get a quote from raterabbit.com as well.  I got a website quote yesterday with a rate was 3.125% w/ $900 in fees (30 year, conventional).  About an hour later, I get an e-mail from the CEO -

I like your profile.  We can do 2.875% with a total cost of $900.00.  This includes all lender and third party fees.
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Based on yesterday rates, you probably can get ~2.95% without any fees.
 
USCTrojanCPA said:
How much higher are refi rates versus purchase loan rates for jumbo loans?
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My lender isn't really working jumbo loans at all right now unless you literally want to pay between 3-5 points. No private investors out there. Bread and butter is conforming between $400-500k loans and even better with low LTV and high credit to maximize lender rebates.
 
woodburyowner said:
Be sure to get a quote from raterabbit.com as well.  I got a website quote yesterday with a rate was 3.125% w/ $900 in fees (30 year, conventional).  About an hour later, I get an e-mail from the CEO -

I like your profile.  We can do 2.875% with a total cost of $900.00.  This includes all lender and third party fees.
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You probably have like a 10000 FICO score. :)
 
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