Profile picture for James Chen

James Chen

Lender

Senior Loan Consultant (10 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Purchase Loan,
Refinancing

Advice

  • (87 Contributions,
  • 0 Best Answers,
  • 14 Helpful)

Contributions are sorted newest to oldest.

The High Rate Strategy

Response

Hello everyone, Very interesting reading.  Super entertaining.  I'm going home now.  You all have a good night. James.

  (0)
What do you guys think about this quote?

Response

To a consumer, this quote looks pretty legit.  It sould be nice if the parameters of the loan request would be in the quote.  For example, I could not tell that this quote was for an investment property by looking at the quote. 

  (0)
Hmmmmm................

Response

Days 20% down payment for all buyers are around the corner...

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Anyone want to speculate on how to respond to this request?

Response

15 year interest only.  That makes sense to me. The co-borrower makes $950,000 a year.  I think that is a typo.  Probably $95,000 per year. I have spoken with someone who makes $1,000,000 a year (yes, that is one million dollars).  Would have been interesting to ask him what he did to make that type of money.

  (0)
Opinions on quotes please

Response

Hello mtgmaker, I take your words seriously.  Now that I've read your thoughts, I realized the words I used were not entirely appropriate.  Just as well I did not mention I could be their realtor. In any case, I appreciate your thoughts.  I will be sure to think twice when I put in comments in quotes. Thank you very much.

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Opinions on quotes please

Response

Hello everyone, In California, a real estate agent can be the loan officer as well - as long as all is disclosed.  The exception is the real estate agent cannot do an FHA loan. I will make it very clear in my quote that they can continue shopping for a better loan.  I know I do not always have the best rates.  The real estate transaction and the loan can be separated.  They need not be done by the same agent. One of my concerns is Zillow does separate lenders from real estate agents.  Maybe I need to advertize my real estate services in another part of Zillow, not ZMM. But I do appreciate all of you chiming in.  If this is legal in your state, I think it is a good idea to reach out to more potentials. Good afternoon. 

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