Hello all: I quote on Zillow Mortgage Marketplace and have had some success. The question I have is about super jumbos. Some of the quotes I see are for rates that are conforming pricing even if the loan amount is $1 million or more. Whenever I look at rates (especially for a 30 year fixed) they're near 8%. Am I missing something? I know one lender that will do a 5/1 ARM to either 1 or 1.5 million for a 5/1 interest only loan at 6.125%. Pretty good but are there others? I'm a broker who works for a big company so have access to most lenders. The only one we don't work with is ING because their service was sloppy. Any ideas? I have a feeling that the jumbo market is what it is right now and I know the reasons. Thanks again!

 

Paul

Paul McFadden

 
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2 Comments on Question about super-jumbo loans

AUG
21
2008
207,923 Points 2 Featured Posts Outside Blog

what classifies a Super-Jumbo loan ?? Is it more than $1 million . $5 million ? $10MM ?? never heard that term before. Wish I was referring more of those type deals to you
12:43am • #1
368,646 Points 6 Featured Posts

James: That's nice of you. Anything over $1 million would be nice. Occasionally I hear about something between 1-2 million and it seems like everyone's rates are 8% for now. Take care.

 

Paul
9:26am • #2


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Paul McFadden Mortgage Loan Officer Bellevue Washington Home Loans

Bellevue, WA

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The Legacy Group, a division of WJ Bradley Mortgage Capital

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