South Orange County Blog from Bob Phillips

A Fast Jumbo Loan with Great Pricing IS available!

Here’s an interesting recent email from one of my preferred lenders.

A Fast Jumbo Loan with Great Pricing


On Sunday, January 13 

I received a call from selling agent, stating her client needed to be pre-qualified for an offer she was writing on a house in Laguna Beach. The client’s documents were emailed to me and the pre-approval letter was sent a short time later that day.

On Tuesday, January 15

The offer was accepted and the borrower locks his rate with us on a 30 year fixed rate $1,300,000 loan at 3.50% with no points on his Jumbo loan.

(That is correct, three and one-half percent) 

On Thursday, January 31

The buyer receives full written loan approval (16 days) and removes contingencies that day! 

On Wednesday, February 6 

Loan documents are emailed to escrow a day earlier than requested. 

On Monday, February 11th

The wire is released and the loan funds. 27 days start to finish on a Jumbo loan.

The lender processed, underwrote and closed the loan. They don’t broker their loans allowing them to have total control over the process.

Their pricing is competitive because their investors are major Wall Street firms and Real Estate Investment Trusts. They don’t use other banks. 

This lender’s Team is just one of three EXCELLENT lenders I recommend.

If you are looking for a purchase loan, or a refinance, I have some extraordinary sources to recommend to you.

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