[HLS]

[quote=LarryTheRenter]Newbie question for HLS..

If you need to borrow 700K…Do you pay the lower rate up to the conforming amount, then a separate loan at a higher rate for the amount above that..or is it a jumbo loan at a higher rate for the whole loan amount..(assuming you qualify of course)???? or can you do either?

thanks[/quote]

It is a single loan for one amount. $700K is over the limit for FNMA. Loans are available at higher rates.

Rates are based on loan amount and equity. If you have less than 20% equity, mortgage insurance will be added as a separate payment, but will be removed at some point in the future. You get one loan for the whole amount.

One way to avoid mortg ins, is to have an 80% 1st, and then a 2nd for the balance, however it is harder to find 2nds today and some loan programs restrict it.

The current loan limits are $417,000 for one program and $546,250 in San Diego County ($417K in Riverside county, $625,500 in OC & LA county)

,,,HLS

[HLS]

[quote=LarryTheRenter]Newbie question for HLS..

If you need to borrow 700K…Do you pay the lower rate up to the conforming amount, then a separate loan at a higher rate for the amount above that..or is it a jumbo loan at a higher rate for the whole loan amount..(assuming you qualify of course)???? or can you do either?

thanks[/quote]

It is a single loan for one amount. $700K is over the limit for FNMA. Loans are available at higher rates.

Rates are based on loan amount and equity. If you have less than 20% equity, mortgage insurance will be added as a separate payment, but will be removed at some point in the future. You get one loan for the whole amount.

One way to avoid mortg ins, is to have an 80% 1st, and then a 2nd for the balance, however it is harder to find 2nds today and some loan programs restrict it.

The current loan limits are $417,000 for one program and $546,250 in San Diego County ($417K in Riverside county, $625,500 in OC & LA county)

,,,HLS

[HLS]

Former SoCal…

I replied to your private email yesterday, but did not hear back from you..

Perhaps it went to your SPAM folder ?

HLS

[HLS]

Former SoCal…

I replied to your private email yesterday, but did not hear back from you..

Perhaps it went to your SPAM folder ?

HLS

[HLS]

Former SoCal…

I replied to your private email yesterday, but did not hear back from you..

Perhaps it went to your SPAM folder ?

HLS

[HLS]

Former SoCal…

I replied to your private email yesterday, but did not hear back from you..

Perhaps it went to your SPAM folder ?

HLS

[HLS]

Former SoCal…

I replied to your private email yesterday, but did not hear back from you..

Perhaps it went to your SPAM folder ?

HLS

[HLS]

Russ…
What were you a doubter about ??

Rates change like the wind. Some lenders have programs that they call streamline or whatever, but it doesn’t mean it’s a great rate.
It might be better than their NON-streamline, but that doesn’t mean anything if their rates are high.

There is confusion with most people about points for loans and other closing costs.

I had 4.75% available with 1pt yesterday for anybody, not just streamline.

Talking about yesterday’s rate today is like talking about stock prices yesterday. They don’t apply today. They could be higher they could be lower.

The best rates move with the market. Lenders that use rate sheets can be higher to pad for volatility.

In most cases, my best rate with a fee is MUCH better than others who offer rates with no fee, but many people fall for “no fees”
I have never said that I have the lowest rates on the planet, nobody can say that. If someone is just looking for the lowest price, they can shop forever, and probably get fooled along the way.

I know that I am extremely fair and competitive and deal with some tricky situations, and am able to help people. I have the ability to pull credit scores that most others don’t, which can mean a savings of thousands of dollars over the life of a loan for some borrowers.

I am normally available 7 days a week.

I can assure you that most people didn’t get the lowest rate possible at the time they locked their loan.

If you can find someone else with my dedication and commitment then you are lucky. If you just want to look for the lowest price then just keep shopping.

People don’t know what they don’t know.

I’d love to see a thread on nightmare loan experiences,, I’m going to start one.

Most people are confused about the largest financial transaction of their life, and don’t understand exactly what they are shopping for. .HLS

[HLS]

Russ…
What were you a doubter about ??

Rates change like the wind. Some lenders have programs that they call streamline or whatever, but it doesn’t mean it’s a great rate.
It might be better than their NON-streamline, but that doesn’t mean anything if their rates are high.

There is confusion with most people about points for loans and other closing costs.

I had 4.75% available with 1pt yesterday for anybody, not just streamline.

Talking about yesterday’s rate today is like talking about stock prices yesterday. They don’t apply today. They could be higher they could be lower.

The best rates move with the market. Lenders that use rate sheets can be higher to pad for volatility.

In most cases, my best rate with a fee is MUCH better than others who offer rates with no fee, but many people fall for “no fees”
I have never said that I have the lowest rates on the planet, nobody can say that. If someone is just looking for the lowest price, they can shop forever, and probably get fooled along the way.

I know that I am extremely fair and competitive and deal with some tricky situations, and am able to help people. I have the ability to pull credit scores that most others don’t, which can mean a savings of thousands of dollars over the life of a loan for some borrowers.

I am normally available 7 days a week.

I can assure you that most people didn’t get the lowest rate possible at the time they locked their loan.

If you can find someone else with my dedication and commitment then you are lucky. If you just want to look for the lowest price then just keep shopping.

People don’t know what they don’t know.

I’d love to see a thread on nightmare loan experiences,, I’m going to start one.

Most people are confused about the largest financial transaction of their life, and don’t understand exactly what they are shopping for. .HLS

[HLS]

Russ…
What were you a doubter about ??

Rates change like the wind. Some lenders have programs that they call streamline or whatever, but it doesn’t mean it’s a great rate.
It might be better than their NON-streamline, but that doesn’t mean anything if their rates are high.

There is confusion with most people about points for loans and other closing costs.

I had 4.75% available with 1pt yesterday for anybody, not just streamline.

Talking about yesterday’s rate today is like talking about stock prices yesterday. They don’t apply today. They could be higher they could be lower.

The best rates move with the market. Lenders that use rate sheets can be higher to pad for volatility.

In most cases, my best rate with a fee is MUCH better than others who offer rates with no fee, but many people fall for “no fees”
I have never said that I have the lowest rates on the planet, nobody can say that. If someone is just looking for the lowest price, they can shop forever, and probably get fooled along the way.

I know that I am extremely fair and competitive and deal with some tricky situations, and am able to help people. I have the ability to pull credit scores that most others don’t, which can mean a savings of thousands of dollars over the life of a loan for some borrowers.

I am normally available 7 days a week.

I can assure you that most people didn’t get the lowest rate possible at the time they locked their loan.

If you can find someone else with my dedication and commitment then you are lucky. If you just want to look for the lowest price then just keep shopping.

People don’t know what they don’t know.

I’d love to see a thread on nightmare loan experiences,, I’m going to start one.

Most people are confused about the largest financial transaction of their life, and don’t understand exactly what they are shopping for. .HLS

[HLS]

Russ…
What were you a doubter about ??

Rates change like the wind. Some lenders have programs that they call streamline or whatever, but it doesn’t mean it’s a great rate.
It might be better than their NON-streamline, but that doesn’t mean anything if their rates are high.

There is confusion with most people about points for loans and other closing costs.

I had 4.75% available with 1pt yesterday for anybody, not just streamline.

Talking about yesterday’s rate today is like talking about stock prices yesterday. They don’t apply today. They could be higher they could be lower.

The best rates move with the market. Lenders that use rate sheets can be higher to pad for volatility.

In most cases, my best rate with a fee is MUCH better than others who offer rates with no fee, but many people fall for “no fees”
I have never said that I have the lowest rates on the planet, nobody can say that. If someone is just looking for the lowest price, they can shop forever, and probably get fooled along the way.

I know that I am extremely fair and competitive and deal with some tricky situations, and am able to help people. I have the ability to pull credit scores that most others don’t, which can mean a savings of thousands of dollars over the life of a loan for some borrowers.

I am normally available 7 days a week.

I can assure you that most people didn’t get the lowest rate possible at the time they locked their loan.

If you can find someone else with my dedication and commitment then you are lucky. If you just want to look for the lowest price then just keep shopping.

People don’t know what they don’t know.

I’d love to see a thread on nightmare loan experiences,, I’m going to start one.

Most people are confused about the largest financial transaction of their life, and don’t understand exactly what they are shopping for. .HLS

[HLS]

Russ…
What were you a doubter about ??

Rates change like the wind. Some lenders have programs that they call streamline or whatever, but it doesn’t mean it’s a great rate.
It might be better than their NON-streamline, but that doesn’t mean anything if their rates are high.

There is confusion with most people about points for loans and other closing costs.

I had 4.75% available with 1pt yesterday for anybody, not just streamline.

Talking about yesterday’s rate today is like talking about stock prices yesterday. They don’t apply today. They could be higher they could be lower.

The best rates move with the market. Lenders that use rate sheets can be higher to pad for volatility.

In most cases, my best rate with a fee is MUCH better than others who offer rates with no fee, but many people fall for “no fees”
I have never said that I have the lowest rates on the planet, nobody can say that. If someone is just looking for the lowest price, they can shop forever, and probably get fooled along the way.

I know that I am extremely fair and competitive and deal with some tricky situations, and am able to help people. I have the ability to pull credit scores that most others don’t, which can mean a savings of thousands of dollars over the life of a loan for some borrowers.

I am normally available 7 days a week.

I can assure you that most people didn’t get the lowest rate possible at the time they locked their loan.

If you can find someone else with my dedication and commitment then you are lucky. If you just want to look for the lowest price then just keep shopping.

People don’t know what they don’t know.

I’d love to see a thread on nightmare loan experiences,, I’m going to start one.

Most people are confused about the largest financial transaction of their life, and don’t understand exactly what they are shopping for. .HLS

[HLS]

FSBO,
You have confirmed that you are a fool.

[HLS]

FSBO,
You have confirmed that you are a fool.

[HLS]

FSBO,
You have confirmed that you are a fool.

[Author]

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