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Hammond Tiger Fan
Vanderbilt Fan
Hammond
Member since Oct 2007
15364 posts

Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
I found them on bankrate.com, but the numbers bankrate is showing isn't completely accurate. The rate for 15 yr is 1.875% with a buy down of 1 point. It's not 0.492 points like bank rate is showing.

No points for a 15 yr is 2.125%.

The total costs with the points (if opted), attorney fees, appraisals, filing fees, and other related closing costs will be around $4,500 - 5,000.

If your credit is over 740, go grab this while it's there.


ETA: Loan Depot just called me and said they could give me 1.75% with 1.143 in points for a 15 year
This post was edited on 9/15 at 11:34 am


Rize
Texas Fan
Baton Rouge
Member since Sep 2011
10391 posts
 Online 

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
That’s an amazing rate! Anybody know what 30 year Interest rates are running? I locked at 2.625% on a 30 but may need to extend or let it expire if the rates are the same.
This post was edited on 9/11 at 6:41 pm


MAUCKjersey1
LSU Fan
Houston Oil and Gas
Member since Aug 2005
2940 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Just locked in 30 year 2.25% Conventional


SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
46613 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
It's less of a buydown with Quicken with your stats

Bankrate is all bullshitee just fyi

But that's a great rate and not bad cost
Lock it up and enjoy
This post was edited on 9/11 at 7:44 pm


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10
ItzMe1972
Member since Dec 2013
4212 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
"Just locked in 30 year 2.25% Conventional"
----

DAMN!

Reminds me of a vendor on the beach of Cancun.

His opening line was "Almost free today."


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B4YOU
Member since May 2018
184 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
quote:

Just locked in 30 year 2.25% Conventiona

Who made that offer?


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20
welder69
New Orleans Saints Fan
Member since Sep 2018
106 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
I am looking to build an were are going start getting credit apps turned in next week. I hope with in the next 30 days it stays like this.


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RedStickBR
LSU Fan
Member since Sep 2009
13891 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Which bank?


Hammond Tiger Fan
Vanderbilt Fan
Hammond
Member since Oct 2007
15364 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
quote:

Which bank?


It's listed in the subject...

I-Bank out of Memphis


RedStickBR
LSU Fan
Member since Sep 2009
13891 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Oh, I totally didn’t catch that that was the name of the bank. Congrats on the incredible rate.


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reb13
Atlanta Braves Fan
Member since May 2010
10870 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
With who and what is the LTV? Best I’ve gotten is 2.75 on a jumbo.


misterc
LSU Fan
Louisiana
Member since Sep 2014
550 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
quote:

Best I’ve gotten is 2.75 on a jumbo.


Can you share where you got that? I'm shopping for a jumbo purchase or jumbo construction now


TigerDL
Member since Nov 2017
71 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Same here. Was quoted 3.375 in August. Credit over 800



Shepherd88
Member since Dec 2013
3109 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
I just completed construction and refi’d my construction loan to a 30 year for 3.2%. I shopped 4 different banks with an 800 credit score and couldn’t find anything lower.

Don’t know how y’all fellas do it. I kept being told that refi’s were not below 3.2 on 30’s.


tenderfoot tigah
LSU Fan
Red Stick
Member since Sep 2004
5831 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Shepherd, you should have priced much more. My broker prices a bunch of places and gives me options.

You can also get quotes on the web.


Tigerlaff
LSU Fan
Member since Jan 2010
16238 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Finalizing a 2.75% 30 year refinance next week. Was initially 4.125%. No points purchased. I don't understand how they are making money.


MikeBRLA
LSU Fan
Baton Rouge
Member since Jun 2005
12567 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
I closed yesterday on a 30 year at 2.5%. Had to pay a point to get that rate but I gladly did since we are going to to be in the house plenty long enough to recoup the buydown.


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20
Shepherd88
Member since Dec 2013
3109 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
I guess so. I did go through a broker and he shopped it, even got a float down option which dropped me 0.125% at close but still no where near these quotes on here.


reb13
Atlanta Braves Fan
Member since May 2010
10870 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
It is through the private bank of Wells Fargo 80% LTV for a purchase. It was much lower than anywhere else. We have been quoted between 3.25-3.65 in the past week. I see everyone here posting about sub 3 rates and I’m just not seeing it... only reason we got the rate at wells is due to family relationship credit. Originally quoted 3.25..


XanderCrews
LSU Fan
Member since Mar 2009
741 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
This will sound assy buuut.

quote:

I don't understand how they are making money.


If you search this out you will learn much more.


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