Buying a house..WHICH LENDER - Need advice?
$320k in stock and cash reserves $40k in Robinhood Future Stock Vests (2022-23) = $750k House $$ range = $1.5 Mill - Bellevue/Kirkland Credit Score = 760, 777, 753 Wife Credit Score = 742, 744, 730 Questions: - Are there any lenders that will do a Jumbo 10% + 10 %? I don’t want to necessarily pay down payment 20% ..I would love to do a 15% instead - Do lenders consider future stock vests? - Do I need to sell my current stocks and get cash in my bank to show down payment? I was planning on meeting a Bank of America mortgage lender specialist.. Any advice on the above? First time home buyer here..
Loandepot has lower rates than bigger banks
Try patelco credit union
Guaranteed Rate. They will be cheaper than most banks you go to direct.
You should absolutely sell your equities if you’re tying to buy now. Idk of things have changed but jumbos became very difficult to get sub 20% down. At one point Wells Fargo was requiring 25% down.
Yeah thanks Wells Fargo is absolutely horrendous
From personal experience, BofA is indeed horrible and unresponsive; my deal was saved by a credit union. Try Better.com.
Thanks…which Credit Union If I may ask - BECU? I have good loan history with BECU ..have had 3 fully paid off auto loans with them
Any CU better than Big Bank. First Tech FCU is great!
WHICH LENDER? WHICH LENDER?
Google it 😂
WHAT APP IS THIS?
If you’re in Washington I recommend WSECU
Go to bankrate.com and just go with whoever is offering the lowest on a given day. Different lenders give low rates on different days. So check everyday. When you are happy, lock the rate on the same day.
You can’t afford a $1.5M home without liquidating almost all of your net worth or promised net worth (due to RSUs which aren’t part of your salary) If you plan to stay there for the rest of your life, then finance your 30-year loan at $1.5M in the 2-3% range. The interest you’ll pay over that entire loan will be a pain in the butt. But you should be able to retire with about 5-6 mil easy
Thank you for the advice Jerome Powell. God knows what will be in 30 years.
😂
Try local credit unions. They probably will customize loan for you. Big banks are horrible.
This!!