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sahaus

I have a client buying a $6,500,000 to $7,000,000 home in Los Angeles.
.
Who is offering mortgages in Los Angeles, CA over $3,000,000 and why type of rates and terms are they offering?

My client wants to know what the highest LTV he can get along with what rates he can get for lower LTVs.

Please advise.

smithsussane · Posted: Sun Sep 28, 2008 10:11 pm Post subject:

Hi sahaus!

Welcome to Forums!

The rates and terms varies from one lender to another. Moreover, they will also depend upon the credit history and the credit score of the lender. However, you can check the following link to get a list of lenders and talk to them personally :
http://www.mortgagefit.com/unitedstates/

Feel free to ask if you have further queries.

Sussane

jerry · Posted: Mon Sep 29, 2008 2:49 am Post subject:

Hi sahaus!

Sussane is correct in saying that rate and terms can vary from one lender to another. Moreover, the credit score and pre-approval letter will also matter in getting such a huge loan.

Thanks,

Jerry

ckalvesmaki · Posted: Mon Sep 29, 2008 4:45 am Post subject:

Do you have credit score information? Are they able to prove income? There are still a few lenders who will offer loans that size.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

Every lender is different. It also depends what interest rate your client will pay. For example, to find the best rate, the lender of choice may only lend 60% of the value of the home. If your client NEEDS a loan at 80% then there are other sources that could lend 80% but the rate will be high. I would have your client call a mortgage broker that has access to most lenders and can find the right one to best accomplish his or her goals.

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