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Dtiger19
LSU Fan
Member since Dec 2007
687 posts

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


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.


What lender?


ellesssuuu
Baton Rouge
Member since Mar 2016
1253 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Buzz me tomorrow at 225-229-8971 and I will give you a quote


MikeyFL
Georgia Fan
Las Vegas, NV
Member since Sep 2010
7599 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Just finished a 10 year refinance for my parents with Third Federal Savings and Loan at 2.44%.

It wasn't the absolute lowest rate, but they were extremely easy to work with online and sent a notary to my parents' patio. I live in a different state from my parents, so this was huge. Would highly recommend.


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Tigerlaff
LSU Fan
Member since Jan 2010
16178 posts

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

This will sound assy buuut


quote:

If you search this out you will learn much more.


Wow, thank you XanderCrews! I was totally under the impression that lenders were offering me money at a loss! Thanks to your guidance I now know that is not the case! You are clearly a very smart person.


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21JumpStreet
Texas Tech Fan
Member since Jul 2012
11633 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Damn, best i've seen


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



quote:

Same here. Was quoted 3.375 in August. Credit over 800



Who's getting Jumbos done right now in that range? I need a reference....


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Hammond Tiger Fan
Vanderbilt Fan
Hammond
Member since Oct 2007
15347 posts

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

Damn, best i've seen


APR is 2.101%.

Yeah, when he told me that I didn't even hesitate to lock it in. I went in thinking 1.99% was the best that they could do and when he said they could offer even better than that at 1.875% my jaw hit the damn floor.


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Epic Cajun
New Orleans Pelicans Fan
Lafayette, LA
Member since Feb 2013
21664 posts

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

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..


Closed 2.75% for 30 years on September 1st with Red River Bank. No buy down.


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%
Did you build? Are just bought a home? I'm going there tomorrow to talk someone about construction loan, we're waiting on bids right now


Epic Cajun
New Orleans Pelicans Fan
Lafayette, LA
Member since Feb 2013
21664 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
No, it was a refinance.


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Member since 2001
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Sho Nuff
New Orleans Saints Fan
Hawaii
Member since Feb 2009
10303 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Can you help for a Hawaii property? If not, I'd love a rec from anyone who can do a sub 3 refi on a jumbo.


natsoundup
Member since May 2013
227 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Just did a 2.625 30 year locally with Assurance. No buy down
This post was edited on 9/15 at 1:08 pm


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10
OTIS2
LSU Fan
NoLA
Member since Jul 2008
45124 posts

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



Hammond Tiger Fan
Vanderbilt Fan
Hammond
Member since Oct 2007
15347 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Loan Depot just called me and said they could give me 1.75% with 1.143 in points for a 15 year. They are trying to beat the offer I already have on the table. I haven't signed anything with the other yet. I'm supposed to today. He said the 1.75% is the lowest they can offer me right now based on today's rate sheet.

So, how can I get this to benefit me b/c there's not much variation between the two offers? What else can I ask for to make it beneficial for me to flip? The Loan Depot Rep said he took 2 points off the original rate of 3.143 points for the 1.75% to make it more competitive for the offer I have in hand.

I'm at the tail end of the process with the first offer and all I have to do is sign, but if the second lender tells me they will give me the 1.75% with no points, then I'll flip. I think that is what it will take. I don't know if I'm right or wrong with this thinking though
This post was edited on 9/15 at 12:01 pm


Codythetiger
LSU Fan
Arkansas
Member since Nov 2006
23635 posts
 Online 

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
nice i locked in a 2.375 on a 30 year conventional, this is our first house


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ellesssuuu
Baton Rouge
Member since Mar 2016
1253 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
unfortunately no


DownshiftAndFloorIt
LSU Fan
Here
Member since Jan 2011
55118 posts

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

Loan Depot just called me and said they could give me 1.75% with 1.143 in points for a 15 year.


Holy frick


AlxTgr
LSU Fan
Kyre Banorg
Member since Oct 2003
68378 posts

re: Just locked a 15 yr refi at 1.875% with I-Bank in Memphis, second lender offering 1.75%
Quicken just offered me 2.99 on a 30 refi with no points and only $500 out of pocket? Good? bad? Terrible?


Epic Cajun
New Orleans Pelicans Fan
Lafayette, LA
Member since Feb 2013
21664 posts

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

only $500 out of pocket?
Are you rolling other closing costs into the loan?


AlxTgr
LSU Fan
Kyre Banorg
Member since Oct 2003
68378 posts

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

Are you rolling other closing costs into the loan?
It does appear that way. Don't have it in front of me.


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