Jumbo loan refinance

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Topic Author
Almond
Posts: 87
Joined: Wed May 01, 2019 3:11 pm

Jumbo loan refinance

Post by Almond » Tue Apr 21, 2020 2:14 pm

hey everyone,
I know there has been a bunch of threads with people posting rates etc, but I am sure like many I have been so slammed putting out fires, so can only start looking now.

If you got a jumbo recently be great if you can post:

Type
Rate
Points and fees
Rough date you closed
Which lender
How long to close

I am in NY so certain lenders such as lenderfi don’t work.

really appreciate it. I just reached out to BOA today and 10/1 interest only rates are 3.375, + 3k closing costs. Amount reduced by .25% to move $500k

Thank you

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Silly Wabbit
Posts: 133
Joined: Sat Mar 25, 2017 9:54 pm

Re: Jumbo loan refinance

Post by Silly Wabbit » Tue Apr 21, 2020 2:22 pm

I locked a 30 year, 10/1 ARM in mid March with keybank at 2.75% with -1.23 points in lender credit. It's a jumbo loan with about 75% LTV.

Lender credits cover all costs with money left over to put towards pre-paids and escrow.

I just got the appraisal back, after one appraiser cancelled. Close is scheduled for first week of May.

Topic Author
Almond
Posts: 87
Joined: Wed May 01, 2019 3:11 pm

Re: Jumbo loan refinance

Post by Almond » Tue Apr 21, 2020 2:31 pm

Silly Wabbit wrote:
Tue Apr 21, 2020 2:22 pm
I locked a 30 year, 10/1 ARM in mid March with keybank at 2.75% with -1.23 points in lender credit. It's a jumbo loan with about 75% LTV.

Lender credits cover all costs with money left over to put towards pre-paids and escrow.

I just got the appraisal back, after one appraiser cancelled. Close is scheduled for first week of May.
That is good. Was it interest only.

User avatar
Silly Wabbit
Posts: 133
Joined: Sat Mar 25, 2017 9:54 pm

Re: Jumbo loan refinance

Post by Silly Wabbit » Tue Apr 21, 2020 4:30 pm

Almond wrote:
Tue Apr 21, 2020 2:31 pm
Silly Wabbit wrote:
Tue Apr 21, 2020 2:22 pm
I locked a 30 year, 10/1 ARM in mid March with keybank at 2.75% with -1.23 points in lender credit. It's a jumbo loan with about 75% LTV.

Lender credits cover all costs with money left over to put towards pre-paids and escrow.

I just got the appraisal back, after one appraiser cancelled. Close is scheduled for first week of May.
That is good. Was it interest only.
No, it wasn't.

One more relevant detail - it's a portfolio loan.

whistleblower
Posts: 6
Joined: Thu Apr 30, 2015 12:41 pm

Re: Jumbo loan refinance

Post by whistleblower » Thu Apr 23, 2020 11:39 am

Bump. Interested in others with recent jumbo experience.

Jeff P
Posts: 164
Joined: Tue Aug 11, 2015 10:07 am

Re: Jumbo loan refinance

Post by Jeff P » Thu Apr 23, 2020 11:47 am

Local credit union.
20% down.
30 year fixed jumbo
3.0 interest rate and 3.029 apr. jumbos were cheaper than both regular and high balance. I ended up having to do some weird negotiations on price to make sure it stayed a jumbo loan.
Locked in March 8/9.

I had some leftover seller credit due to my weird negotiations that was going to revert to seller so I bought a 1/2 or 1/4 point for $4200 to bring it down to 2.875 interest.

Franklin
Posts: 2
Joined: Thu Aug 23, 2018 4:07 pm

Re: Jumbo loan refinance

Post by Franklin » Thu Apr 23, 2020 12:04 pm

Locked in a 10 year I/O at BofA almost 2 months ago (the day rates dropped). Received 2.5% and will close next week. Low LTV . No cost other than appraisal. I understand they have risen from this point.

softwaregeek
Posts: 407
Joined: Wed May 08, 2019 8:59 pm

Re: Jumbo loan refinance

Post by softwaregeek » Fri Apr 24, 2020 10:43 am

Did a thread on this recently. Closed 2.75 30 year fixed with a relationship bonus from citi, match to BofA and apply BofA relationship bonus. Also had lender credit of 0.5

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