Quote:
Originally Posted by monkeywrenching
the bank did not want to approve my loan for buying a foreclosed home with me putting 40% down on it to rent out. I told them ok and just paid for the entire amount and transferred all my money to another bank.
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Unless you are threatening to transfer more than 1 million out of all of their accounts (investments, money markets, cds, etc), most big national banks won't care. It's sad. But that's the state of banking these days.
I get better service with Vanguard's Select Services because the majority of my money is kept there. While I'm also enrolled in Bank of America's Premier banking service. BOA wasn't even close in matching my mortgage broker's rate quotes. They were at least 0.25% off even with my preferred rates. The BOA client adviser flat out told me that my 300K in BOA's account wasn't enough....I'm thinking he was trying to get me to pull most of my money from Vanguard over to BOA.
My sister and brother in law have more than 3 million in assets at BOA got them to match the mortgage broker's rates for her refinance last week. I assume they value them as customers more than me.