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Bbva mortgage deals are back. Jumbo or confirming. $25k required $25000

2,688 4,720 September 19, 2020 at 01:50 AM in Finance (7) Get BBVA coupons Coupons
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+31
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$25,000.00

Deal Details

Last Edited by Phaenon September 19, 2020 at 08:30 AM
$25,000.00
+31 Deal Score
32,866 Views
https://www.bbvausa.com/mortgage.html

You can Google 'bbva mortgage loan officer' and try to find one you like. Negotiating is better on new purchases than refi. Credit score of 780+ required.

How it works:
- get the best mortgage quote you can find. Including any that are given with relationship discounts.
- have the bank or broker give you a formal loan estimate or a breakdown.
- contact your loan officer and ask them to match
- once the match is approved, move $25,000 into a 12 month CD. You can do IRA CD.
- take .125% off your rate or 0.5 point lender credit to pay all your closing costs.

Tip: if your loan is conventional, you can take 0.5 point credit and buy your loan down.

How to get the lowest rate to get BBVA to beat:
1- apply via a broker (find really good ones on zillow).
2. If you are applying for jumbo loan, get a quote from Chase after agreeing to beef up relationship by moving all your assets then getting BBVA to beat it.

Optional- get a quote from wells fargo (queue fake account jokes), First Tech CU, and Safe Credit union.

Just closed a **jumbo refi** 2.750 at 0 points 30yr

Other rates are as low as 2.350 for 7/1 ARM.

Cheers!
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About the OP
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This comment has been rated as unhelpful by Slickdeals users
Joined Feb 2014
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#2
Don't really understand all of it but thank you will research
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#3
OP do you have link to the terms? I didn't see anything
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#4
Any idea what kind of rate should be expected for a 15 or 20 year refi? Best rate I can get with paying no points is 2.625 and paying just title and doc fees and origination fee of 1k.
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#5
Quote from pfire1
:
Any idea what kind of rate should be expected for a 15 or 20 year refi? Best rate I can get with paying no points is 2.625 and paying just title and doc fees and origination fee of 1k.
2.625 for a 15 yr seems high.
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#6
I have 2.875 on a jumbo 15 but am in the middle of a remodel so an appraisal isn't an option (unless they accept one from a month ago pre-reno). Think it's worth a shot to get lower for a 15?
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#7
Quote from Idreamofdealzs
:
2.625 for a 15 yr seems high.
That's the rate I'm getting too. Where/how have you seen lower?
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Joined Feb 2007
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#8
Just closed on a 2.75% on a 30 year with half point through better.com ($2500 amex deal) for a duplex... I used owning.com for the low rate lending estimate to get better.com to match.

How much lower interest rates are ya getting? My lending estimate was from July.
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Joined Jul 2010
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#9
Rates are regional. OP: what state are you in?
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Joined Jan 2013
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#10
Loan depot, loan cabin, watermark should all be able to beat that. I just closed a 2.75 30y with 1% lender credit. People with higher loan amounts can get closer to 2.5
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Joined Jun 2007
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#11
Checkout the thread at https://slickdeals.net/share/android_app/t/14173061 if you want to get a good LE. Somehow I doubt BBVA will match and then give the credit on some of the low numbers posted there. Worth a try though.
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#12
Quote from D34LHunt3r
:
That's the rate I'm getting too. Where/how have you seen lower?
Owning and Loan Dept . Com . I haven't closed on anything but have been shopping. Also first tech had good rates. I agree refi'ing is like buying a car now you have to get multiple rates and then see who can beat and go lower from there
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#13
Quote from bears2006
:
Just closed on a 2.75% on a 30 year with half point through better.com ($2500 amex deal) for a duplex... I used owning.com for the low rate lending estimate to get better.com to match.

How much lower interest rates are ya getting? My lending estimate was from July.
What did you use to find the property? Will you be living on one side and renting other?
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#14
Quote from Idreamofdealzs
:
2.625 for a 15 yr seems high.
That was for 20 and for 15 I can get as low as 2.5
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#15
There is a new fee for refinances to be implemented and some lenders have increased rates as a result compared to a week before
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