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First Republic Bank - don't live close

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  • Benji
    replied
    I tried using multiple family addresses well within the range of their banks. They told me they go by the address of where you get your paycheck from, and I'm way too far and there were no options presented from there. Seemed pretty final.

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  • mlopez02
    replied
    Also curious to hear if others have had success with this. I live in Central Florida about 2 hours away from the Palm Beach branches.

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  • Dr.Blue
    replied
    Bringing this old thread back to life. Any updates on the location issue or how to bypass it for those just outside their region? Our home is 24 miles from the nearest banking location according to google maps. However my wife will work at a per diem gig within 8 miles of the nearest banking location. From what I understand I will also need to cosign since she will just be a per diem hourly worker with no full salary when she starts in October after finishing her fellowship and bulk of income will be coming from me. Looking to refi and not wait because the federal loan interest rates are basically criminal at over 7% and PSLF jobs aren't a reality for most CA docs.

    Leave a comment:


  • rxor49
    replied
    I was able to refi with FRB. Google maps says 9.7 miles. They didn't ask questions beyond just providing my address on the application, so anything closer than 10 miles is probably fair game. You should probably use a real address, though. As part of the deal, you have to sign up for their checking account, and your debit card and other important stuff will get mailed to whichever address you give them.

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  • Tim
    replied
    From Student Loan page on WCI:

    In order to get the negotiated WCI deal, email [email protected] with the words “First Republic Referral” in the subject line for a direct referral or contact my banker Kerry Berchtold at 339-235-0419 or [email protected] and let her know you were referred by WCI.

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  • okayplayer
    replied
    Definitely don’t lie, but there is nothing wrong selling yourself (truthfully) as someone they would like to have a business relationship with.

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  • Tim
    replied


    You probably could but you’d also technically be committing fraud. Just call them and ask. Subtley talk about how when you’re done paying these loans, you’re going to have all this extra money left over and won’t know what to do with it.
    Click to expand...


    Airbnb will work. My daughter has an apartment close to Backbay in Boston! Seriously, take the loan app and get anything documented. It can comeback to cause problems, legally.

    One can consider speaking with a financial advisor first. That is the shark. Expressing interest in the loan refinancing gets you a referral.

    The loan officer is the bait. He/she will get an indication of how flexible to be.

     

     

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  • CordMcNally
    replied




    What if my family has a residence next to their bank, but I currently live do not live there? Could I just put my family residence address on there and apply?
    Click to expand...


    You probably could but you'd also technically be committing fraud. Just call them and ask. Subtley talk about how when you're done paying these loans, you're going to have all this extra money left over and won't know what to do with it.

    Leave a comment:


  • okayplayer
    replied
    It’s true.

    I also told them I would be very interested in talking to their investment advisors once the student loans were paid off.

    You can certainly make yourself more attractive to them as potential banking customers.

    Leave a comment:


  • The White Coat Investor
    replied




    They seem to be very interested in courting a certain subset of very high earning individuals. They are more willing to make exceptions to their geographic rules if you are in that subset. (Ie gross household income >700k)
    Click to expand...


    What? Money opens doors? Who knew?

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  • The White Coat Investor
    replied




    One of the terms is greater of 10% loan bal and $5k in checking.
    So this would be a product for attendings, not fellows or residents I would surmise.
    Correct?
    Click to expand...


    Yes. They don't have a resident program.

    Leave a comment:


  • okayplayer
    replied
    They seem to be very interested in courting a certain subset of very high earning individuals. They are more willing to make exceptions to their geographic rules if you are in that subset. (Ie gross household income >700k)

    Leave a comment:


  • Tim
    replied
    One of the terms is greater of 10% loan bal and $5k in checking.
    So this would be a product for attendings, not fellows or residents I would surmise.
    Correct?

    Leave a comment:


  • Pileos
    replied
    What if my family has a residence next to their bank, but I currently live do not live there? Could I just put my family residence address on there and apply?

    Leave a comment:


  • cozmopak
    replied
    I wonder if they offer buy in loans for people close to buy just outside of their region.

    Leave a comment:

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