[quote]What are the questions he won’t answer? If he is not answering all you question maybe it is because he is not ready to have you squeeze his best pricing out of him. Maybe he is just a dope. Who knows?[/quote]
I’m trying to understand what’s involved in getting a new higher-limit conforming loan. Can I apply for one now, and what kind of interest rate I’d get? (online sites such as aimloan.com are purporting to show higher-limit conforming interest rates in the 7’s) Should I hold off opening escrow till early December, or perhaps early January? My understanding is, I’ll have to close escrow within 30 days or I’ll have to pay sizable per diem penalties to the bank. Therefore I need to work out these issues before I go all-in.
If someone has any insight into all this, you’re welcome.
The broker I talked to does not like answering general questions. The best I could get out of him was, literally: “At this juncture, for a $540,000 purchase and 10%-20% down, you will need something called a non-conforming loan, also called a jumbo loan.”
[quote]Looking into funding 2 weeks before you want to open escrow is not the best way to have approached a purchase as it is a critical part of the process if you dont have all cash.[/quote]
What is the best way to have approached the purchase? Should I look into funding 2 weeks after I open escrow?
