Relationship mortgage discounts for moving a million assets

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bsteiner
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Re: Relationship mortgage discounts for moving a million assets

Post by bsteiner » Fri Aug 09, 2019 4:55 pm

Mortgage rates are around zero or in some cases negative in Denmark: https://www.bloomberg.com/news/articles ... tes-plunge.

HEDGEFUNDIE
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Re: Relationship mortgage discounts for moving a million assets

Post by HEDGEFUNDIE » Fri Aug 09, 2019 5:31 pm

calabel wrote:
Fri Aug 09, 2019 4:33 pm
unclescrooge wrote:
Thu Aug 08, 2019 8:58 am
The rate will change everyday based on market forces, and how much they are internally marking up their loans.

If they are going if a rate sheet, then it should be standardized.
Yes, rates are always on the move, especially with the volatility in the 10y treasuries the last week.

While there is certainly some internal rate sheet in use, there seems to be a fair bit of wiggle room in what can be approved or how much commission a given loan officer is willing to forego. Ex First Republic's entire demeanor has changed now that they realize their opening bid had them way out of the running, and others are making concessions left and right trying to be competitive against other offers on the table.
What are the latest rates you're getting?

gougou
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Re: Relationship mortgage discounts for moving a million assets

Post by gougou » Fri Aug 09, 2019 5:32 pm

I got 2.75% 7 year ARM for a no closing cost cash out refinance with HSBC. Loan amount is about $1M. Max LTV is 75%. The rate was locked 2 weeks ago (7-year yield was about 1.9%) after moving $500K deposit. They have a promotional savings account which pays 2.25% APY which is good enough for me to park my money there until the loan closes.

I talked to the banker this week because yield has dropped. She told me that at closing I'll have the option to roll down to the market interest rate which could be lower than 2.75%.

I'm interested in more data points on ARMs. I think most likely I'll end up refinancing my mortgage a few years later when the rate drops further so there is no point in paying a premium 30-year fixed rate for those years.
Last edited by gougou on Fri Aug 09, 2019 5:36 pm, edited 1 time in total.

BusterMcTaco
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Re: Relationship mortgage discounts for moving a million assets

Post by BusterMcTaco » Fri Aug 09, 2019 5:34 pm

I'm getting a 7/1 with 2.75% with .13 points from PNC with no assets moved (but again, a 0.5 point discount for this loan officer), so HSBC seems in-line. This was locked on Tuesday this week.

gougou
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Re: Relationship mortgage discounts for moving a million assets

Post by gougou » Fri Aug 09, 2019 5:38 pm

BusterMcTaco wrote:
Fri Aug 09, 2019 5:34 pm
I'm getting a 7/1 with 2.75% with .13 points from PNC with no assets moved (but again, a 0.5 point discount for this loan officer), so HSBC seems in-line. This was locked on Tuesday this week.
OK, but do they cover your closing costs? Also I expect my rate to drop about 0.2% because of the recent market movement if I lock it today. So I'm kind of unsure what to do now.

calabel
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Re: Relationship mortgage discounts for moving a million assets

Post by calabel » Fri Aug 09, 2019 5:47 pm

HEDGEFUNDIE wrote:
Fri Aug 09, 2019 5:31 pm
What are the latest rates you're getting?
I've gotten 30yr for 3.15 at First Republic with a credit to cover all costs, BofA and Chase are working on trying to get something approved by upper management to stay in the game.

BusterMcTaco
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Re: Relationship mortgage discounts for moving a million assets

Post by BusterMcTaco » Fri Aug 09, 2019 5:57 pm

gougou wrote:
Fri Aug 09, 2019 5:38 pm
BusterMcTaco wrote:
Fri Aug 09, 2019 5:34 pm
I'm getting a 7/1 with 2.75% with .13 points from PNC with no assets moved (but again, a 0.5 point discount for this loan officer), so HSBC seems in-line. This was locked on Tuesday this week.
OK, but do they cover your closing costs? Also I expect my rate to drop about 0.2% because of the recent market movement if I lock it today. So I'm kind of unsure what to do now.
No, they aren't covering. As I mentioned, .13 points. So figure about 0.5 points higher than your closing cost refund. But I also don't have to move any assets (I don't have $500k I can move, most of my assets are in retirement accounts).

HEDGEFUNDIE
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Re: Relationship mortgage discounts for moving a million assets

Post by HEDGEFUNDIE » Fri Aug 09, 2019 6:08 pm

My 2.65% 5/1 ARM with 5k closing costs still looks competitive.

mervinj7
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Re: Relationship mortgage discounts for moving a million assets

Post by mervinj7 » Fri Aug 09, 2019 6:16 pm

calabel wrote:
Fri Aug 09, 2019 5:47 pm
HEDGEFUNDIE wrote:
Fri Aug 09, 2019 5:31 pm
What are the latest rates you're getting?
I've gotten 30yr for 3.15 at First Republic with a credit to cover all costs, BofA and Chase are working on trying to get something approved by upper management to stay in the game.
Did First Republic require any assets to be moved? Like BusterMcTaco, most of our assets can't be moved.

calabel
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Re: Relationship mortgage discounts for moving a million assets

Post by calabel » Thu Aug 15, 2019 12:16 pm

FRB's rate of 3.15 is better than the 3.25 I have elsewhere, but I'm not sure that the small improvement in pricing justifies the tie-up at FRB vs the less onerous assets requirements at other banks. However, I'm still trying to work out the actual functional requirements for my First Republic offer, so I'd welcome any data points from those of you who have been down this path. Feel free to PM me if you'd prefer to not post publicly.

When I initially got an uncompetitive rate from FRB, it came along with putting $100k in a FRB checking account (which to me was a nonstarter) and discussions of moving $1M in assets (also not feasible). Now that I've had several rounds, we're down to setting up a checking account, fund it with regular direct deposits, and pay the loan with autopay from that account + an understanding that I begin to move towards using FRB as my primary banking institution. There is no specific timeline required to move assets - they understand that will take time and is a process - and nothing said about the checking account actually needing to be funded to 100k.

I'm now left wondering what I should do, both in terms of whether this is remotely enough of a discount to consider moving investments to FRB and away from a low fee custodian and whether there's some additional more onerous requirement that may drop.

Separately, I still feel that there is likely some additional drop in rates coming given the last week's 10 year yield chart.
Last edited by calabel on Thu Aug 15, 2019 12:23 pm, edited 1 time in total.

FoolStreet
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Re: Relationship mortgage discounts for moving a million assets

Post by FoolStreet » Thu Aug 15, 2019 12:20 pm

calabel wrote:
Thu Aug 15, 2019 12:16 pm
FRB's rate of 3.15 is better than the 3.25 I have elsewhere, but I'm not sure that the small improvement in pricing justifies the tie-up at FRB vs the less onerous assets requirements at other banks. However, I'm still trying to work out the actual functional requirements for my First Republic offer, so I'd welcome any data points from those of you who have been down this path. Feel free to PM me if you'd prefer to not post publicly.

When I initially got an uncompetitive rate from FRB, it came along with putting $100k in a FRB checking account (which to me was a nonstarter) and discussions of moving $1M in assets (also not feasible). Now that I've had several rounds, we're down to setting up a checking account, fund it with regular direct deposits, and pay the loan with autopay from that account + an understanding that I being to move towards using FRB as my primary banking institution. There is no specific timeline required to move assets - they understand that will take time and is a process - and nothing said about the checking account actually needing to be funded to 100k.

I'm now left wondering what I should do, both in terms of whether this is remotely enough of a discount to consider moving investments to FRB and away from a low fee custodian and whether there's some additional more onerous requirement that may drop.

Separately, I still feel that there is likely some additional drop in rates coming given the last week's 10 year yield chart.
I think you have negotiated very well. I suggest you take it.

As Bogleheads, we believe that bond rates are unpredictable so I encourage you to lock when ready.

Topic Author
softwaregeek
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Re: Relationship mortgage discounts for moving a million assets

Post by softwaregeek » Mon Aug 19, 2019 7:23 pm

I did no closing costs. I will refi again if rates drop a quarter. I am not too concerned about stretching out the mortgage. Lower payments increase investable cash flow.

gronkman
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Re: Relationship mortgage discounts for moving a million assets

Post by gronkman » Tue Aug 20, 2019 2:54 pm

This topic is a gold mine. I just closed my 30-year fixed jumbo refinance with Citi at 2.875% for 1 point (easy call, since we’ll stay for at least 8 years). The same rate sheet offered 3% flat for .25 points, or 3.125% with a 0.375% credit towards closing costs.

This was with a 0.5% discount for 1M in new assets (IRAs count). Since we live in Virginia, BoA only offers up to 500k asset 0.25% discount only. I researched that HSBC supposedly has relationship pricing, but the mortgage officer for the VA area never called me back.

So another data point for those of you looking at a 30-year fixed jumbo outside CA/NY.

Gemini
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Re: Relationship mortgage discounts for moving a million assets

Post by Gemini » Tue Aug 20, 2019 7:56 pm

Does one need a prior relationship with any of these banks?

I am in the NY/NJ area, and will be looking for a jumbo mortgage. Do you just call the main number or local branches?

If anyone have any people they recommend specifically, please PM me. Thanks

DH0
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Re: Relationship mortgage discounts for moving a million assets

Post by DH0 » Tue Aug 20, 2019 8:28 pm

Gemini wrote:
Tue Aug 20, 2019 7:56 pm
Does one need a prior relationship with any of these banks?

I am in the NY/NJ area, and will be looking for a jumbo mortgage. Do you just call the main number or local branches?

If anyone have any people they recommend specifically, please PM me. Thanks
In general no prior relationship is needed. It probably helps a bit to have an in person contact at your local branch. I walked in the door of BofA on Saturday morning and had a quote with 0.25% relationship discount that evening.

Zombies
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Re: Relationship mortgage discounts for moving a million assets

Post by Zombies » Wed Aug 21, 2019 3:29 am

B of A also offers .375% off for $3M in assets being moved over. While that’s a big number, the assets can remain in whatever Vanguard mutual funds you have, so there’s no real “cost” to this. I also got a significant cash bonus for moving those over which paid almost the entirety of my closing costs, so I essentially got a no-cost, 0 point mortgage. Couldn’t be happier.

arf30
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Re: Relationship mortgage discounts for moving a million assets

Post by arf30 » Wed Aug 21, 2019 6:38 am

What's the strategy with all the ARMs in this thread, pay a low rate now and refi into a 30 year if rates go up?

grkmec
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Re: Relationship mortgage discounts for moving a million assets

Post by grkmec » Wed Aug 21, 2019 7:33 am

arf30 wrote:
Wed Aug 21, 2019 6:38 am
What's the strategy with all the ARMs in this thread, pay a low rate now and refi into a 30 year if rates go up?
My view is that people generally overpay for the security of a 30yr mortgage and I think interest rates are in secular decline across the developed world. So I am happy rolling 5yr ARMs or having mortgages tied to 1m LIBOR. I am a high net worth investor with the financial means to pay down my mortgage if I am wrong... but I have been right for the last 10+ years, and rest of the developed world is slipping further into negative rates.
Last edited by grkmec on Wed Aug 21, 2019 8:48 am, edited 1 time in total.

DH0
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Re: Relationship mortgage discounts for moving a million assets

Post by DH0 » Wed Aug 21, 2019 7:39 am

An ARM is a better choice if:
1) rates remain low or move lower (because you can refi into a new ARM and continue to save interest vs a 30 yr)
OR
2) you expect to sell the house or payoff the mortgage in less than ~13 years (for a 10/1 ARM. The # would be lower for a 5/1 or 7/1)

Most Americans own their homes for ~7 years so I'm of the opinion that an ARM is the right choice for a majority of borrowers. But you need to have a plan for how long you will keep the mortgage and stick to it.

HEDGEFUNDIE
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Re: Relationship mortgage discounts for moving a million assets

Post by HEDGEFUNDIE » Wed Aug 28, 2019 8:51 am

10 year Treasury hitting yet another all time low today (1.46%)

Time to call up the relationship mortgage bankers!

BusterMcTaco
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Re: Relationship mortgage discounts for moving a million assets

Post by BusterMcTaco » Wed Aug 28, 2019 10:02 am

Even with the 10-year treasury dropping, I have not found rates to be any better now than when I locked about a month ago.

SouthernFIRE
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Re: Relationship mortgage discounts for moving a million assets

Post by SouthernFIRE » Wed Aug 28, 2019 10:17 am

BusterMcTaco wrote:
Wed Aug 28, 2019 10:02 am
Even with the 10-year treasury dropping, I have not found rates to be any better now than when I locked about a month ago.
Same here. Just closed on 15-year at 3% with no points/closing costs/relationship discount. Locked in early August and pushed for lower rate but loan officer claimed pricing didn't come down even with the 10-year about 50 basis points lower.

Chiron
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Re: Relationship mortgage discounts for moving a million assets

Post by Chiron » Wed Aug 28, 2019 10:24 am

This graph was posted in another thread. It doesn't appear rates are following the 10Y yield drops at this point.

Image

User avatar
unclescrooge
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Re: Relationship mortgage discounts for moving a million assets

Post by unclescrooge » Sun Sep 01, 2019 10:55 am

SouthernFIRE wrote:
Wed Aug 28, 2019 10:17 am
BusterMcTaco wrote:
Wed Aug 28, 2019 10:02 am
Even with the 10-year treasury dropping, I have not found rates to be any better now than when I locked about a month ago.
Same here. Just closed on 15-year at 3% with no points/closing costs/relationship discount. Locked in early August and pushed for lower rate but loan officer claimed pricing didn't come down even with the 10-year about 50 basis points lower.
2 weeks ago I locked in 3%, no points, with $3000 in closing costs on a$965k refi with $150k cash out.

Back of America had previously offered to match the rate, but in the 28th they were able to offer $4k in lender credits for closing costs as well.

Luckily, PNC dragged their feet on the appraisal so I'm not out any money.

nepats
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Re: Relationship mortgage discounts for moving a million assets

Post by nepats » Tue Sep 03, 2019 9:48 am

gronkman wrote:
Tue Aug 20, 2019 2:54 pm
This topic is a gold mine. I just closed my 30-year fixed jumbo refinance with Citi at 2.875% for 1 point (easy call, since we’ll stay for at least 8 years). The same rate sheet offered 3% flat for .25 points, or 3.125% with a 0.375% credit towards closing costs.

This was with a 0.5% discount for 1M in new assets (IRAs count). Since we live in Virginia, BoA only offers up to 500k asset 0.25% discount only. I researched that HSBC supposedly has relationship pricing, but the mortgage officer for the VA area never called me back.

So another data point for those of you looking at a 30-year fixed jumbo outside CA/NY.
That's a great rate! Did you ever find out what the 10/1 rate was with Citi?

antmn
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Re: Relationship mortgage discounts for moving a million assets

Post by antmn » Tue Sep 03, 2019 1:58 pm

Found this thread very useful and wanted to add a data point of mine.

Options I'm working with right now
  • BofA - Leading contender. 3.5% APR and 4.2k Lender credits which covers closing costs. Rate drops to 3.25% if I bring in $500k in AUM
  • Citi - Currently working on matching BofA's offer. Hoping that they can come in at 3% if I bring over $1M in AUM as they publish a 0.5% discount for this tier
  • HSCB - Currently working on matching BofA's offer. Hoping that they can come in at 3% if I bring over $1M in AUM
  • Chase - Currently matched BofA at 3.5% APR and 4k credits. Rate drops to 3.25% if I bring in $1M AUM and I would also get the $1250 Private Client sign up bonus

Let's see how things go

nepats
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Re: Relationship mortgage discounts for moving a million assets

Post by nepats » Wed Sep 04, 2019 5:55 pm

Anyone know how long you have to keep money at WF after closing?

Topic Author
softwaregeek
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Re: Relationship mortgage discounts for moving a million assets

Post by softwaregeek » Wed Sep 04, 2019 6:30 pm

nepats wrote:
Wed Sep 04, 2019 5:55 pm
Anyone know how long you have to keep money at WF after closing?
You don't.

gougou
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Re: Relationship mortgage discounts for moving a million assets

Post by gougou » Wed Sep 04, 2019 6:58 pm

antmn wrote:
Tue Sep 03, 2019 1:58 pm
Found this thread very useful and wanted to add a data point of mine.

Options I'm working with right now
  • BofA - Leading contender. 3.5% APR and 4.2k Lender credits which covers closing costs. Rate drops to 3.25% if I bring in $500k in AUM
  • Citi - Currently working on matching BofA's offer. Hoping that they can come in at 3% if I bring over $1M in AUM as they publish a 0.5% discount for this tier
  • HSCB - Currently working on matching BofA's offer. Hoping that they can come in at 3% if I bring over $1M in AUM
  • Chase - Currently matched BofA at 3.5% APR and 4k credits. Rate drops to 3.25% if I bring in $1M AUM and I would also get the $1250 Private Client sign up bonus

Let's see how things go
Are those 30 year fixed rate?

gougou
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Location: San Francisco Bay Area

Re: Relationship mortgage discounts for moving a million assets

Post by gougou » Wed Sep 04, 2019 6:59 pm

SouthernFIRE wrote:
Wed Aug 28, 2019 10:17 am
BusterMcTaco wrote:
Wed Aug 28, 2019 10:02 am
Even with the 10-year treasury dropping, I have not found rates to be any better now than when I locked about a month ago.
Same here. Just closed on 15-year at 3% with no points/closing costs/relationship discount. Locked in early August and pushed for lower rate but loan officer claimed pricing didn't come down even with the 10-year about 50 basis points lower.
Same here. I'm closing a 2.75% 7-year ARM cash out refinance with HSBC this week.

rocuronium
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Re: Relationship mortgage discounts for moving a million assets

Post by rocuronium » Tue Sep 10, 2019 7:03 pm

Sorry, this is a basic question. Are the assets you're moving to the banks from your taxable accounts, or can they be from retirement accounts?

davidsorensen32
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Re: Relationship mortgage discounts for moving a million assets

Post by davidsorensen32 » Tue Sep 10, 2019 9:29 pm

Here are the rates I'm getting. I will continue to update this as I get more info:

WF : 2.625% (APR 3.560%) , closing costs $24,000 , potential for 0.5% reduction if I move $1M+ to their platform

BofA: said they will match / slightly lower whatever WF says

Citi: never returned my call with any material

Schwab : working on rates

FRB : working on rates

Any other bank to tap ? Also, what about credit unions ? I remember they were incredibly popular for mortgages some while back. Are they still in the reckoning ?

Zombies
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Re: Relationship mortgage discounts for moving a million assets

Post by Zombies » Wed Sep 11, 2019 2:05 am

I don’t want to post too many details for privacy reasons, but this thread sent me on a journey that led to getting a 5/1 interest-only ARM for 2.125% with positive cash input — meaning my closing costs were reduced by credits, and then the cash bonus for moving over significant assets more than offsets the remaining cost (which also contributed to a hefty rate reduction).

The reason I’m posting this is the technique is applicable — get quotes from multiple banks, work with lending officers who are aggressive, and then price-match across them multiple times. The first bank (who I ended up going with) gave me a decent rate, which would become really good after I moved assets and got a further reduction — bank #2 was willing to match that without assets moving, but had their own conditions. Bank #1 then re-matched to Bank #2’s rate, and applied the asset moving _on top_ of that, giving me an even better rate. Bank #3 came into play because they were offering negative points, which Bank #1 also matched leading to this really low final package, which will close in the next two weeks.

Obviously the amount you can get depends a lot on how many assets you’re willing to move, but since I could leave them in my Vanguard mutual funds it really wasn’t a big deal (and I will leave them there, versus transfer them right back, since they’re just buy-and-hold funds anyway). But spend the time to talk to multiple banks, and then go through the process in cycles, repeating the dance with the same banks until you get something you’re happy with.

antmn
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Re: Relationship mortgage discounts for moving a million assets

Post by antmn » Wed Sep 11, 2019 11:11 am

davidsorensen32 wrote:
Tue Sep 10, 2019 9:29 pm
Here are the rates I'm getting. I will continue to update this as I get more info:

WF : 2.625% (APR 3.560%) , closing costs $24,000 , potential for 0.5% reduction if I move $1M+ to their platform

BofA: said they will match / slightly lower whatever WF says

Citi: never returned my call with any material

Schwab : working on rates

FRB : working on rates

Any other bank to tap ? Also, what about credit unions ? I remember they were incredibly popular for mortgages some while back. Are they still in the reckoning ?
HSBC is also worth trying. Are these rates for a 5/1ARM? Curious who you ended up with.

antmn
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Re: Relationship mortgage discounts for moving a million assets

Post by antmn » Wed Sep 11, 2019 11:12 am

gougou wrote:
Wed Sep 04, 2019 6:58 pm
antmn wrote:
Tue Sep 03, 2019 1:58 pm
Found this thread very useful and wanted to add a data point of mine.

Options I'm working with right now
  • BofA - Leading contender. 3.5% APR and 4.2k Lender credits which covers closing costs. Rate drops to 3.25% if I bring in $500k in AUM
  • Citi - Currently working on matching BofA's offer. Hoping that they can come in at 3% if I bring over $1M in AUM as they publish a 0.5% discount for this tier
  • HSCB - Currently working on matching BofA's offer. Hoping that they can come in at 3% if I bring over $1M in AUM
  • Chase - Currently matched BofA at 3.5% APR and 4k credits. Rate drops to 3.25% if I bring in $1M AUM and I would also get the $1250 Private Client sign up bonus

Let's see how things go
Are those 30 year fixed rate?
Yes they are 30 year fixed rates.

davidsorensen32
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Re: Relationship mortgage discounts for moving a million assets

Post by davidsorensen32 » Wed Sep 11, 2019 11:50 am

antmn wrote:
Wed Sep 11, 2019 11:11 am
HSBC is also worth trying. Are these rates for a 5/1ARM? Curious who you ended up with.
[ quote fixed by admin LadyGeek]

7/1

boglewow
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Re: Relationship mortgage discounts for moving a million assets

Post by boglewow » Wed Sep 11, 2019 2:10 pm

current @CHASE:
960k @4.375 30yr

locked in refi with CITI:
3.375 30year (3.125 after 200k assets xfer)

edit: fees @.01~ 15k rolled into loan

BusterMcTaco
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Re: Relationship mortgage discounts for moving a million assets

Post by BusterMcTaco » Wed Sep 11, 2019 2:15 pm

I called HSBC to compare to what I had locked with PNC, but not competitive. All rates 0 points, and I stopped listening after the first decimal:

30 and 15 fixed: 3.6ish
5/1 and 7/1 ARM: 2.9ish

This assumed $100k assets transferred, to boot.

antmn
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Re: Relationship mortgage discounts for moving a million assets

Post by antmn » Wed Sep 11, 2019 10:18 pm

boglewow wrote:
Wed Sep 11, 2019 2:10 pm
current @CHASE:
960k @4.375 30yr

locked in refi with CITI:
3.375 30year (3.125 after 200k assets xfer)

edit: fees @.01~ 15k rolled into loan
That's a great reduction. Did it take a lot of negotiating with CITI to get the base rate down to 3.375%?

I had to spend many hours and had to get them competing quotes to match that offer. Also have to transfer assets and I'm not sure if I like CITI's brokerage services. Will probably suck it up for the savings though.

antmn
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Re: Relationship mortgage discounts for moving a million assets

Post by antmn » Wed Sep 11, 2019 10:21 pm

antmn wrote:
Tue Sep 03, 2019 1:58 pm
Found this thread very useful and wanted to add a data point of mine.

Options I'm working with right now
  • BofA - Leading contender. 3.5% APR and 4.2k Lender credits which covers closing costs. Rate drops to 3.25% if I bring in $500k in AUM
  • Citi - Currently working on matching BofA's offer. Hoping that they can come in at 3% if I bring over $1M in AUM as they publish a 0.5% discount for this tier
  • HSCB - Currently working on matching BofA's offer. Hoping that they can come in at 3% if I bring over $1M in AUM
  • Chase - Currently matched BofA at 3.5% APR and 4k credits. Rate drops to 3.25% if I bring in $1M AUM and I would also get the $1250 Private Client sign up bonus

Let's see how things go
Update: Market rates seem to have gone up. So lender credits are almost gone and rates are up about 1/8% from above. Citi's sticking to their quote above but the others aren't competitive anymore and are higher by 1/4%.

Seems to me like its hard for anyone to beat Citi right now. Anyone have any experience with them? How good are they with closing in a reasonable time frame?

boglewow
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Re: Relationship mortgage discounts for moving a million assets

Post by boglewow » Thu Sep 12, 2019 7:07 am

No, that was what they offered me off the bat. Maybe it was good timing (when 10 yr yields were hovering around 1.4%).

For the transfer, I dont plan on keeping it in CITI, $$ just needs to be in any combo of checking / savings for 5 days after close. I was hoping for some type of correction to tax loss harvest, but regardless I will be moving in and out.

All in all, CITI has been great to deal with. Their rates are great and their relationship discounts are the best I've seen. I wont even comment on what I got offered from Wells/Chase/HSBC, not even in the same ballpark.
antmn wrote:
Wed Sep 11, 2019 10:18 pm
boglewow wrote:
Wed Sep 11, 2019 2:10 pm
current @CHASE:
960k @4.375 30yr

locked in refi with CITI:
3.375 30year (3.125 after 200k assets xfer)

edit: fees @.01~ 15k rolled into loan
That's a great reduction. Did it take a lot of negotiating with CITI to get the base rate down to 3.375%?

I had to spend many hours and had to get them competing quotes to match that offer. Also have to transfer assets and I'm not sure if I like CITI's brokerage services. Will probably suck it up for the savings though.

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