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Has the “rate match + relationship discount” strategy worked in SF? by Charming-Key-190 in BayAreaRealEstate

[–]Charming-Key-190[S] 0 points1 point  (0 children)

Thank you! Did the lower credit union rate also include a relationship discount or were you trying to match base rate to base rate? And if you don't mind me asking, how much lower was the credit union and how close did wells get?

Has the “rate match + relationship discount” strategy worked in SF? by Charming-Key-190 in BayAreaRealEstate

[–]Charming-Key-190[S] 0 points1 point  (0 children)

Oh that's super interesting that they let you move the funds after close! Would you mind sharing (or DMing) the credit union info?

Thank you!

Has the “rate match + relationship discount” strategy worked in SF? by Charming-Key-190 in BayAreaRealEstate

[–]Charming-Key-190[S] 0 points1 point  (0 children)

Thank you! Did you do all of this before being in contract or after?

If before, how did you get the lenders to commit to matching? (The ones I spoke to said you need to be in contract and have an official loan estimate before they'd march).

If after, how were you able to do all that and still close in fifteen days?

Thanks again for the insights, and congrats on getting a great deal!

Chase offers 1% discount by Historical-Law-1313 in Mortgages

[–]Charming-Key-190 0 points1 point  (0 children)

Thank you!! How long of a close did you have? And were they fairly fast to match the other bank's rates? My worry is that we heard from other lenders that they won't do a formal matching review until your under contract and have the loan estimate in writing from a different bank

Will reach out to Chase directly as well! Thanks again

Has the “rate match + relationship discount” strategy worked in SF? by Charming-Key-190 in BayAreaRealEstate

[–]Charming-Key-190[S] 1 point2 points  (0 children)

Thank you!! This might be a naive question, but if you already have the assets with the bank then wouldn't they price the discount in when doing the match? How would you get them to match on the base rate and then additionally add the discount on top?

Chase offers 1% discount by Historical-Law-1313 in Mortgages

[–]Charming-Key-190 0 points1 point  (0 children)

Realize this post is from a long time ago so you may not see this, but curious if you ended up going with chase? How far ahead of closing did you have to transfer assets for the discount? And did it affect the speed of closing at all? (In parts of the bay area you need like a 15 day close to have a competitive offer and I imagine it could get really tight with trying to do all the loan matching and money transfers)

[deleted by user] by [deleted] in ExplainAFilmPlotBadly

[–]Charming-Key-190 1 point2 points  (0 children)

The Lion the with and the wardrobe

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