Profile picture for Brian Brady

Brian Brady


Loan Originator (21 years experience)

Purchase Loan,
Home Equity


  • (102 Contributions,
  • 0 Best Answers,
  • 13 Helpful)

Contributions are sorted newest to oldest.

California Wholesale Jumbo Lender Needed (over $1,000,000).

Can any California mortgage brokers suggest wholesale "super" jumbo lenders ($1,000,000 and up)?I'm specifically looking for someone other than ING.  Would appreciate any contact information as well.  Thanks in advance.

Is it ok to find a morgage lender 1000 miles away?


New York is a funky state.  Dealing with an "alien lender" carries a better than average risk.  Why not bring the Texas broker's quote to the closest broker, in New York, and request that it be matched?

lender said the rates on zillow are just teaser rates & are not accurate?


VA rates are typically a tad higher because certain "non-allowable" costs have to be absorbed by the lender.  Still, I think you can confidently shop for a VA home loan on Zillow Mortgage Marketplace.  ZMM isn't "just a website"; it's a real-time mortgage marketplaceSubmit a request, get some quotes, show them to your local lender and make him compete.

I have a interest only loan at 5.125 5 yr arm valid until 2010 nov.Is it rt time to refin with 30 yr


If you wait until 2010, there is no guarantee as to where rates could be then.  Get in while the rates are low.I can pretty much guarantee that with the size of the government deficit, increasing fuel prices, and an economy that appears to be turning around that 11/2010 mortgage rates will be substantially higher than today's offering.  I'd second Wayne's advice to take action now.

Is 20% down payment required for 2nd home (not primary residence)?Would be primary in 4 yr's.


Vacation homes (2nd home) can be purchased with as little as 10% down (with private mortgage insurance).  Condos are a different ball game.If you are certain you will retire in less than five years, I'd recommend a 5/1 ARM; the rate wil be 4.5%-4.75%; a 1% discount to the 30-year fixed rate.I'm giving you guidelines for California because I primarily lend in California (although I do lend in all 50 states).  Other states have less restrictive guidelines for second homes.