Helpful Tips To Find A Jumbo Mortgage Lender [mortgage-scam.blogspot.com]
Question by : Looking for well know jumbo mortgage lenders. Need to find lowest jumbo mortgage rate. Can someone help? I'm looking to try and find a low rate on a jumbo mortgage in california. If anyone can provide some feedback on jumbo mortgage rates in CA I'd appreciate it. Thanks! Best answer for Looking for well know jumbo mortgage lenders. Need to find lowest jumbo mortgage rate. Can someone help?:
Answer by loanmasterone
Finding out about jumbo rates will no help you at all, you need to find out if you are qualified for a jumbo rate. In order to find out the type of loan programs you are qualified for you will have to fill out a loan application, with a mortgage broker, which you can find one in your local telephone book. Make sure this mortgage broker or mortgage banker is able to do government loans such as FHA and VA loans if you qualify for one. He will fill out this application, which takes awhile so grab your favorite beverage and sit down. Once you have completed the application, he will run your credit report which will have your credit scores. These credit scores will determine your interest rate. The amount of your monthly debt payments you are required to pay as per your credit report and the amount of mortgage you can take on based on your income will determine the amount of house you will be able to purchase. When you speak with the mortgage broker you will need the following documents to complete the loan application, there will be others, but this will get you started. #1 One month of pay stubs for each person that will be on the mortgage. #2 Six months bank statements from each bank in which you bank as well as statements from any 401K from you place of employment. #3 Two years of federal income tax along with the W-2 that match. Once he has all that he need to do he can then issue you a pre-approval letter so you can purchase a home. In this pre-approval letter will be the amount of house you are qualified to purchased. Once he gives you this pre-approval you may now find a real estate agent to find yourself a home or he might have a referral. Now make sure before you get your pre-approval you and your mortgage broker go over all your options as to the mortgage programs you qualify for, the interest rate, monthly payments. If you are getting a FHA, fixed rate, two loans to eliminate PMI like an 80/20 or one loan, if you are qualified for and approved for a 100% loan. You should select the loan that best suit your financial condition at the time. That could be an adjustable rate loan. It could be a fixed rate loan for 5 or 10 years and then adjust. Some adjustable rate mortgages only adjust once. Make sure your mortgage broker explain all your options so you may make an intelligent decision. What might be good for one person might not be good for you, in other words just because your friends and all your real estate buddies are telling you about the great fixed rate they got, your financial situation might call for something else. So select the best option for you and your financial situation. You should also get a Good Faith Estimate (GFE) which will indicate the cost you will have to pay for getting this loan. It will also indicate the amount of your down payment. Once you have found a home the real estate agent will then prepare a contract for you and the seller to sign. Your mortgage broker will now order an appraisal to show proof of the property value. The mortgage broker might ask for additional information or documentation, don't get all up tight this is normal, just supply the information or find the documents needed. After the appraisal has been completed you will be called by your mortgage broker to sign your loan docs so you can take possession of your new home. Before signing any loan docs make sure they say exactly what you and your mortgage broker went over when you decided on what mortgage program was best for you. I hope this has been of some use to you, good luck "FIGHT ON"
Answer by MadMan
Try www.Bankrate.com
Answer by mortgage_pooh_bah
Craig, If you're looking for a reputable jumbo mortgage lender, Total Mortgage Services may be just what you're looking for. Since 1997, Total Mortgage has funded more than $ 4 billion in mortgage loans and offers some of America's lowest rates and fees, in addition to the convenience, personal service and integrity of a community lender. Total Mortgage is nationally known for having some of the lowest jumbo mortgage rates available. We not only offer some of the lowest current jumbo mortgage rates in the country, but also great flexibility in crafting a mortgage solution that’s right for you. Check out our link below for our up-to-date jumbo mortgage rates. Best of luck! Robert Hyder Total Mortgage Services
www.AreYouUpsideDown.com This video is a review of the Washington Post Article written by Kenneth Harney in November of 2011. The article describes how upside down jumbo mortgages are the the category of mortgages that lenders need to worry most about. Many homeowners with negative equity choose a strategic default and all the negative consequences that come with walking away from a mortgage. AreYouUpsideDown.com has a potential solution for upside down jumbo homeowners who would like to refinance and take advantage of low market rates. The technique starts with a 3rd party investor purchasing your mortgage and you can learn more about it at http
mortgage-scam.blogspot.com Strategic Defaults on the Mind of Jumbo Mortgage Lenders
Finding the perfect jumbo mortgage lender can seem like a very long process and can get a little frustrating at times. You are going to want to find one that will be able to get you the perfect rates and be able to make the process as simple and easy as possible. This is going to save you a lot of money in the long run and help you to be able to get through the process faster and easier than if you were dealing with someone that does not deal with jumbo loans.
Research is the key to understanding this type of loan and knowing the type of person that you need to handle getting your jumbo loan. If you have never applied for this type of money than you are going to find that it is going to take a little bit of time so you will need to have some patience. It is not going to happen overnight so give it some time to happen. You need to keep in mind that with all of the different types of jumbo loans that are available, each one is going to take some time to get through the paperwork so do not get discouraged once you start the paperwork. Let the lender do his job and you will be just fine. If you feel that they are not giving you the best service that you could possibly get than you should look into getting a different lender before it is too late.
One thing that you need to be able to do is put your trust in the jumbo mortgage lender that is handling your account. If you are not comfortable with the person that is taking care of your jumbo loan than you need to find someone else that can handle your account. It is very important that you can feel comfortable with this person to explain everything to you about the process as you go along so that you are feeling as though you are left in the dark. Some of the language that it is used can seem overwhelming when it comes to jumbo loans and you want to be able to understand all that is being said. This is very important when it comes to being able to read the paperwork because you want to be able to understand everything that you are reading. If you are unsure about anything in the paperwork than you should be able to ask the person that is handling your services. They also need to be able to explain the jumbo mortgage rates that you are going to be getting as well. Recommend Helpful Tips To Find A Jumbo Mortgage Lender Articles
