[quote=Coronita]How the hell did you get a 1.5% loan???[/quote]
The 1.5% is from First Republic Bank, got this in 2016 as 30 year.
It is a variable rate tied to the 11th district cost of funds plus 70 bp.
I think at the time, the bank thought rates would start to rise
The offered a 0.9% back on a primary.
My regret is I could have done all four refis at the rates of 1.5% and 0.9% but trying to “manage risk” I only did one variable.
Needless to say, they don’t offer this anymore.
But they do offer a 2.25% unsecured line of credit but I haven’t had a chance to use that as the term is 7 years. Keep as a backup.
The backstory is, I read how Mark Zuckerberg had a loan with FRB at 0.9% on his primary residence. The article talked about loans for the 1%.
