Get Your Mortgage Phil

Are you looking for a jumbo loan in San Mateo, CA? I can help you. As a mortgage broker in Burlingame (right next door to San Mateo), I am able to match you with the best jumbo loan for your needs because we are partners with many of the best jumbo lenders in the country.

As a mortgage broker, I save you money, time, and hassle in obtaining a jumbo loan.

I save you money because I offer a smorgasbord of jumbo loan programs.

If you call a bank they will offer you only the programs they have. Their jumbo loan programs may or may not be competitive. Their underwriting guidelines may not meet your needs. The benefits I offer is that I know who offers the most competitive jumbo loan rates. In addition, I know what the underwriting guidelines are of each of the lenders. With this knowledge I am able to save you money on your jumbo loan request.

I can save you time with your jumbo loan request.

Your time is valuable; you could spend a lot of it calling on the phone and searching the Internet for the best jumbo loan terms, or you can make one call to me because I have access to most of the jumbo loan programs. 

Another way I can save time is I can say no to you. If you call a jumbo loan lender that is limited in programs available, they may try to push your file through their underwriter in hopes of getting it approved. Since I have so many jumbo loan programs available, I can say no, that will not work, here is an alternative that will.

Nobody likes the hassle of applying for a jumbo loan.

I minimize the hassle for you. After taking your jumbo loan application, I will send you a checklist of documents needed. Most loan agents provide this, however, my checklist is different. It is very specific to your situation. If your jumbo loan application requires two years of tax returns, I will ask for two years of tax returns - if it is not required I will not. I minimize your hassle by being very specific about your jumbo loan documentation requirements. Also, I try to get as much of your information upfront so that you are not getting nagging phone calls asking for more jumbo loan documentation.

San Mateo, CA has some very expensive homes. It's not unusual to see homes listed for sale for more than $2,000,000. If you need a jumbo loan of more than $1,000,000 do not be surprised if the lender requires two appraisals. The lender will usually use the appraisal with the lower value when underwriting your package.

If you are thinking about refinancing and obtaining a jumbo loan with cash out, don't be surprised if the lender limits the amount of cash out to $200,000. There are exceptions to this general rule - this is one area in which I can really help you because I know which jumbo loan lenders allow more than this amount.

Now in August, 2009, obtaining a jumbo loan is more difficult than ever. Make sure you contact a seasoned loan professional that you are confident than can help you navigate through this process!

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Getting a jumbo loan in Hillsborough, CA has become more difficult in 2009. According to this website, there are currently 83 homes for sale on July 30, 2009. This number is higher than normal, and does not include homes that are not on the multiple listing service. There ary many sales in Hillsborough that never are recorded on the MLS. One of the reasons that so many homes are on the market is because of the lack of jumbo financing in recent months.

There have been some developments recently that make getting a jumbo loan in Hillsborough, CA easier than it has been in a while.

Some lenders have come back into the jumbo loan market. For example, one lender is offering jumbo loans for up to $5 million. The price range of homes currently on the market is between $1,350,000 to $18 million. Having loan amounts up to $5 million won't help everyone, but it should help most.

Another development is the ability to fix the rate on an adjustable loan without refinancing and without having to provide income documentation. If you have an adjustable jumbo loan in Hillsborough, CA, you should read this article about how it works.

The super jumbo loan market, which has been frozen, is thawing. I expect more lenders to get back in the market for higher-end loans, which should make obtaining a jumbo loan in Hillsborough, CA easier than it has been for a long time.

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Getting a jumbo loan for homes in San Francisco has been difficult this year. Many of the lenders have either gone out of business, or have dropped their programs.

Finally, some lenders are offering a jumbo loan program, which should help San Francisco home buyers buy homes in this expensive city.

Now in July, 2009, we are offering a jumbo loan up to $1,500,000 as long as the loan-to-value percentage is less than 70% for San Francisco homes. A 10% second mortgage is allowed. So, for a home purchase of $2,000,000, a home buyer could put as little as 20% down. A 720 credit score is required. The debt-to-income ratio can be no more than 40%.

This jumbo loan program is available for single family residences, as well as properties up to three units (there are a lot of multi-family properties in San Francisco). It is also available for condominiums. Second homes and investment properties are not eligible for this program.

Many lenders require two appraisals on loan amounts above $1 million. This jumbo loan program only requires one appraisal in San Francisco, which saves the client money!

Several types of mortgages are offered: 30 year fixed, 5/1 LIBOR, and 10/1 LIBOR. The LIBOR loans also offer an interest-only payment option.

With more jumbo loan products coming on the market, San Francisco real estate will hopefully thrive!

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