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Brian Brady's Advice

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  • 102 Contributions
  • 0 Best Answers
  • 13 Helpful

Brian Brady wrote:

Looking for lite doc or stated loans with 20-30% down are these programs still around in California?

Answer
If you're putting 30% down, there are lenders in California who will make a loan to you, with alternative income documentation
November 13 2011
(0)

Can you help me buy the property at 7350 Dancy Rd. 92126?

Answer
Our office is right down the street.  While I'm a lender, I can direct you to agents (who know Mira Mesa) who understand the concept of negotiable commissions; this could save you money.
July 06 2009
(2)

Can anyone refinance for a Jumbo VA loan that is over the county VA guarantee limit (I have equity)?

Answer
You can most certainly refinance VA to VA if you aren't taking cash-out, regardless of the 2009 loan limit.  I've refinanced two already in 2009 above the current county limit
June 30 2009
(0)
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.
June 19 2009
(0)

Consider a credit union for your next home purchase. Usually best rates and lowest fees: nonprofit

Response
This is a common misconception; especially in California.  I compete with no less than 8 credit unions, in San Diego,  and find that mortgage brokers smoke their rates/terms
June 19 2009
(1)

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

Answer
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?
June 19 2009
(0)

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

Answer
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.
June 19 2009
(0)

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

Answer
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.
June 19 2009
(0)

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

Answer
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.
June 19 2009
(0)