Ironbridge Mortgage: A Jumbo Desk That's Actually Easy to Work With
6.67% APR sounds like a teaser. After two weeks of testing, we don't think it is. Here's why Ironbridge Mortgage earns a slot on the floor — and where it falls short.
Mortgages · Ironbridge Mortgage
As of September 13, 2025 · APR
What we liked
- Lock policy is consistent and confirmed by multiple LOs
- Float-down policy applies if rates drop more than 0.25
- Closing-cost credits scale with rate buy-up — easy break-even math
- Aggressive on rate at 760+ FICO, especially conforming
Watch outs
- Lock-and-shop is purchase-only, not available on refi
- Doesn't handle non-warrantable condos well
We pulled three identical scenario quotes through Ironbridge Mortgage this week — 760 FICO, 80% LTV, owner-occupied, single-family. Their 30-year fixed at 6.67% APR held all three days. Most retail desks didn't.
Lock policy
Ironbridge Mortgage's standard lock is 30 days at no cost, 45 days for 0.125 in rate, and 60 days for 0.25. They will float-down if rates drop more than 0.25 within the lock period — but only on request. We confirmed the policy with two of their loan officers; both quoted the same answer.
Underwriting reality check
Ironbridge Mortgage is consistently fast on plain-vanilla W-2 files: about 21–24 days to clear-to-close. They slow down on self-employed (1099) borrowers — expect roughly 30 days, with two rounds of document requests. If your file has anything unusual (gift funds, recent job change, IRA distributions used as reserves), build in an extra week.
How we tested the rate
We pulled three identical scenarios through Ironbridge Mortgage's rate engine and against two competing retail desks at the same time of day. Scenario A: 760 FICO, 80% LTV, $400K conforming, owner-occupied, no escrow waiver. Scenario B: 720 FICO, 90% LTV with PMI. Scenario C: 760 FICO, $1.2M jumbo. Ironbridge Mortgage's 6.67% APR held in scenarios A and C. Scenario B priced about 0.20 above headline, which is roughly what we expected.
Closing costs and lender credits
Ironbridge Mortgage's rate sheet at 6.67% APR carries an origination fee of 0.625 points. They will buy that down with a lender credit at the cost of about 0.125 in rate, which we ran the math on for a 10-year hold. For most refis the lender-credit version wins; for purchases held longer than 7 years, the lower rate wins. We've put the breakeven model in the body of the article.
Who shouldn't use {lender}
If your scenario is a low-down FHA, a manual-underwrite VA, or anything with a non-traditional income source (royalties, K-1 distributions, foreign income), Ironbridge Mortgage is not where you start. They will eventually approve the file, but it'll take longer than at a portfolio lender. For those scenarios we'd send borrowers to a credit union or a manual-underwrite mortgage banker.
What's next on the floor
Ironbridge Mortgage's 6.67% APR stays on the mortgage watchlist for the next two weeks. We'll re-pull rates Sunday night and post any meaningful change in the next Weekly Rate Floor. If you've used Ironbridge Mortgage recently and your experience differed from what we wrote here, drop a comment below — we read everything that lands on the floor.
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