Good Morning BP Community,
I'm in the middle of a refinance and aggressively shopped rates for a cash-out refinance on a two-family and wound up getting in contact with Beth Murphy at Eastern Bank. She's been fantastic and the original rate we received for a conventional cash-out refinance in Eastern Bank's jumbo loan portfolio program was 4.375 which was significantly better than the closest competitive rate quote I received from which was 4.875. The Board of Directors of Eastern Bank also just met and lowered the rate for their jumbo loan portfolio program from 4.375 to 4.25 and allow 1 rate adjustment per lock period (for a $250 fee) so we'll be locked in at 4.25 this week.
I thought this was a fantastic deal and opportunity for others who may be hesitant to refinance right now as rates are climbing everywhere else and I thought I'd share. I'm a borrower like everyone else and get nothing out of this other than the satisfaction of giving others a tip on a great rate. You can find Beth Murphy's contact information here: https://www.easternbank.com/murphy#
I'm currently looking for my second deal and would be interested in connecting with other real estate investors, developers and agents in Massachusetts. I'd specifically be interested in connecting with agents who specialize in off-market/distressed multi-family opportunities and/or mixed-use residential/commercial buildings. In regard to the mixed-use properties I'm specifically looking for a 2-4 family with residential units above and a store front on first floor. For Multi-Family units and or Mixed-Use I'm interested in the South Shore (Quincy, Braintree, Milton, Weymouth, Hingham, Randolph, Canton, Norwood) or Metro West/95 Corridor (Westwood, Needham, Natick, Newton, Burlington).
Well, I apologize for the misspelling, and I can't seem to figure out how to edit the subject line of this post, but the bank is "Eastern Bank" not "Eastarn Bank."
Hey @Owen D. Thank you for sharing your experience w Eastern -- I am sure they appreciate it too.
I am in your area with similar goals. Feel free to reach out anytime we can talk shop.
Hey @Jim Sestito , no problem, happy to share if it can help others. Definitely interested in connecting to talk more about real estate. I'll send you a private message.