Mortgage Blog

Why the borrower chose higher rates from me?

October 9th, 2017 11:24 PM by Eric Fang

Borrower is purchasing a rental property. It will be his 5th financed property, and the loan is a jumbo loan. He was interested in 7/1 ARM rate, and consulted with two brokers who he worked both in the past.

The rate he got from the other agent was 3.625%; and I quoted 4.125%. Borrower wlll pay all the closing cost for both cases. So the rate was compared apple to apple. And he chose me to work on the loan.

The reason was that I told him that I checked with all the lenders, 4.125% is the best rate for his case. And even the other agent provided 3.625%, but the underwriter would fail(the borrower asked the lender name). Since I just closed another loan with the exact similar scenario(5th property, rental jumbo purchase). And we just closed the other loan last week.

Besides, the other agent did not close his last refinance, though the case not complicated at all.

Enough for the loan scenarios. Let's talk more about running. We finished San Jose Rock n Roll this past Sunday. We had a great time, and all my friends PRed(I paced them).  We had lots of fun and would run together as well for the next year.

If any of clients would like to run next year, I can pace you if you can let me know earlier.
See the link below:

The cost is only $44 after the discount. I can get you the code if you send me email.
Posted in:General
Posted by Eric Fang on October 9th, 2017 11:24 PM



My Favorite Blogs:

Sites That Link to This Blog:

1288 Kifer Road Suite 208
Sunnyvale, CA 94086