Brian Brady's Q&A

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.

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

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.

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?

No.

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.

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.

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.

Brian - you are somewhat new here understood, however please note - Spamming is against Zillow PolicyI'm an old-timer on Zillow Paul, back to the days when the real estate guide was called a wiki.  The link button is offered in comments for clarification. There is a difference between dropping a link that says "Apply Online-Rates Low" and a clarification of opinion.  My comment would have been extraordinarily long had I reprinted it here rather than linking for clarification.  If linking to my "home site" offends your sensibilities, I'll gladly direct you and anyone else to an internal link on the Zillow website.I appreciate the effort of self-policing; without it, Zillow would become Myspace.

Of course, no one REALLY knows, including the Fed Chairman (his actions may be met with a lukewarm response by mortgage bond traders) but I"m assuming that you, as an interested consumer, expect mortgage professionals to give you an informed prognostication.I think rates will be volatile but opportunities to lock-in, under 5% will be forthcoming soon.