Profile picture for allegro100

Do any of these auto quotes include high-balance conforming rates?

  • August 01 2009 - Kirkland
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Answers (8)


You can find anything online. Especially ficticous quotes that robo-quoters don't even know they did. In other words, robo-quoting is crap when you need a customized quote. Call Steve and Dave on the thread and deal with a local lender.
  • August 10 2009
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Profile picture for SunTrust
 "I have one consumer now who insisted last week that ABC bank had locked their $550K conforming jumbo at 5.0% for no buydown"

If they locked in on 31st July that was a realistic price on conventional high balance 30 year fixed with score 720 or above.
  • August 10 2009
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Why not get two more quotes from Steve & Dave? There both answered you question and are in WA. .... Best wishes, Rudi
  • August 10 2009
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As the other reputable lenders answered they certainly should.  Having said that, Caveat Emptor, buyer beware. 

I deal with internet consumers every day.  If you get 5 quotes typically one is "real proud" of themselves (high), one just seems too good to be  true, and the other three are pretty close in rate and fee.  The old adage if it seems too good to be true has never applied more than in lending today. 

With all the crazy programs gone there are only so many choices in the market place for product.  We all have the same Wall Street and if one quote is purporting something that no one else can do, be prepared for a major disappointment.  I have one consumer now who insisted last week that ABC bank had locked their $550K conforming jumbo at 5.0% for no buydown.  This was obviously a conforming quote, just not jumbo.  Kudos to you for being in the marketplace looking for a reality check.
  • August 10 2009
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Profile picture for Academy Mortgage AZ
They should. Your request is ran through a pricing engine and the result is based off any adjustments for 'high balance' requests.
  • August 05 2009
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From someone that does use Auto Quote API, the answer is at least for us yes. We process a number of different sources of leads through our API, some of which we shell out a lot of money for, so it is important that it be accurate.

According to my count there are at least 6 different API providers doing auto quoting on Zillow. Each of course will have its own way of responding and evaluating requests. And since it is all automated, the API can sometimes make mistakes, which is why it is important to clarify things right away with the loan officer you contact. Even manual qoutes (I did these for a few months) are done in batches and can contain an error.
  • August 03 2009
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Profile picture for daveskow
many of the quotes you likely received  are automated  quotes  ( from oput of the county lenders)  that  often will miss a detail like the  fact that there is indeed the high balance  loan option for King County  ( loan amts 417K- 567,500)....so take many of the quotes you received with a grain of salt and  double check on any quotes that  look credible that  the quotes can  indeed address your loan amt need
  • August 03 2009
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Profile picture for SunTrust
I, and a number of us, can't answer for the auto-quoters.

There are a number of us that manually quote. Those are the quotes you get 2 minutes to a few hours later after the initial batch of auto-quotes. Those manual ones you get a few minutes to a few hours after the batch of auto-quotes  are also the ones that have actually read the request and customize the quote making it an accurate, trustworthy and credible quote. 

The High Balance loan are not actually jumbo loans. Some quoters price high balance loans at a higher rate than standard conventional and then just check off Jumbo since there is nowhere to check off HB when submitting a quote. Other lenders price the HB the same as the standard conventional and so submit the quote normally without checking off Jumbo. 
  • August 01 2009
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