Jumbo Mortgage Lenders

Carolyn Said:

Mortgage lender offer no point no cost program but requires my CC number.?

We Answered:

NEVER have I been charged up front for a credit report - NEVER.

And you can find loans that offer no points ANYWHERE.
Google the name of that company followed by the word scam.
Be careful if there are no complaints - even churches have complaints.
If there is nothing it could be a company that just popped up overnight.
Sounds like you are doing an online mortgage loan - really not a good idea AT ALL.

I've seen many companies that offer jobs and charge for a credit report upfront.
They don't even get the report - they keep the money.
There was never a job in the first place.
Scam.
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Patrick Said:

Is it better to get a conforming loan plus 2nd trust or to get one "mini jumbo" loan?

We Answered:

1st you have to look at the time frame you may be in the home and understand that the average mortgage in the US only last 5-7 years. Secondly most "mini-Jumbo" loans are much higher in an interest rate than 1/8th of a percent. I would suggest you only use a bank and not a broker. I would go with Wells Fargo doing a first loan at $417,000 and the 2nd as a HELOC. Even though the 3nd mortgage is adjustable, the likelyhood of prime rate going up anytime soon is next to none. Also with Wells Fargo you can lock in portions of your ewuity line at any time into fixed rate loans if rates do start to go up. If you need a recommendation of who to use in your area please email me.

Wendy Said:

Is it fair that Obama got an incredible deal on his mortgage from Rezko, but we all have to play by the rules?

We Answered:

You dare to question the Savior?! To the gallows with ye! There shall be no dissent; all must bow towards Dear Leader Obama!

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