Home Buying in 07652>Question Details

Kang, Home Buyer in Paramus, NJ

How can I find a good mortgage loan for first home purchase?

Asked by Kang, Paramus, NJ Sun Nov 4, 2012

Our future home in Paramus is 900K and we are looking to borrow 650K to 625K, depending on what rate we can get. What's the best way to find a good loan officer? We heard from other people that people can get 3.5% for 30yr fixed jumbo or high balance. Is this a good rate or can we get even lower than that?

Help the community by answering this question:


Yes! depending on credit rate today is 3.250% to 3.500. Please feel free to contact First Prestige Mortgage Services, Inc 973-744-8300 to assist you.
0 votes Thank Flag Link Tue Dec 18, 2012
Have you found a lender yet?
0 votes Thank Flag Link Mon Dec 17, 2012
The rate today depending on your lock is 3.25%. What you need is a seasoned
preferred Mortgage Broker etc.. that can look after you and your family needs.
My suggestion call First Prestige Mortgage Services, Inc 973-744-8300. They
provide excellent quality service. .
0 votes Thank Flag Link Mon Nov 5, 2012
Hello there Kang,

The folks below seem to be on point. I would suggest one additional item -- especially when dealing with a high balance loan it is good to have a banker who has broker capability as well as direct lending options. I'm sure you realize that the larger the loan, the more potential problems there are. If, for some reason, you or the home are not able to obtain conventional financing, you don't want to be stuck starting all over again with a new lender.

My company is Residential Home Funding Corporation -- RHFC. We are among the top 10 lenders in NJ, a banker with broker options. Here's my page. Of course I'm licensed. :)
http://www.lizsantos.rhfunding.com. If you don't know my company, your realtor will know us, assuming he/she is seasoned.

I currently reside in Teaneck, NJ, which is about 10 minutes from Paramus. My headquarters office is in Parsippany. If you are looking for a terrific real estate attorney, Check out Frank Ciambrone on Oradell Ave in Paramus. He's at (201) 967-0010. The man has the patience of a saint! Tell him I said so. :)

As far as the rate, there's no way to know what you qualify for at this juncture, but with a 30% downpayment you should do well assuming your income and credit are what they need to be. My advice is that you not be so rate-conscious that it consumes your purchase experience entirely. It's important, of course. My best analogy -- Although you would ask an oncologist how much his services cost, you would not make the cost more important than his/her ability to treat you successfully. In my experience, the borrowers and loan originators who make 'rate' the most important feature are the least knowledgeable and least capable of handling the complications which invariably arise.

I certainly wish you all the best! With the recent weather, I'm working from home. If you wish to call my cell, feel free. 201 412 9813.
0 votes Thank Flag Link Mon Nov 5, 2012
Bergen County is deemed a high cost county per fnma & freddie mac so they have a hybrid conventional product that allows for close to conventional pricing, but keeps you from the jumbo market which is higher priced rates.

I always recommend that my clients check out my background. Consumers do not realize that they can do a breakground check at http://www.nmlsconsumeraccess.org.

One of the only good things that came out of the "mortgage meltdown" was the creation of a database of licensed loan officers thru the NMLS. Keep in mind there are licensed professionals like myself, and then there are loan officers that are just registered with the NMLS. Why the difference? If you work at Wells Fargo, Bank of America, Chase, Citi, and/or credit unions you do not have to be licensed. You fall under that banks national license and are exempt. (funny how our government passed that little loophole for the big banks!!)

Professional like myself have been licensed since 1997. I am a correspondent banker and get my interest rates wholesale and pass on the saving to my customers. Feel free to reach out to me for assistance. best of luck! FYI, my NMLS # is below so you can research me!

Joseph S. Cordova
NMLS# 146855
Evesham Mortgage, LLC
22 South Maple Avenue
Marlton, NJ 08053
office: (856) 985-9944 ext. 103
direct fax: (206) 333-0946
cell: (856) 304-2381
Apply online at: http://www.joecordova.com
0 votes Thank Flag Link Mon Nov 5, 2012
Call one of these two excellent lenders tomorrow and get started on a pre-approval.

Terry Stevens
Wells Fargo Home Mortgage, Paramus
201-556-4111 direct office line

Tammy Lambert
Coldwell Banker Home Mortgage (Bergen County)
201-213-1511 cell

They will answer all your questions and help you get started! If you aren't already working with a realtor, give me a call and let's get started on looking for just the right home -- you are certainly buing at the right time!

Barbara Ostroth
Coldwell Banker Residential RE/Oradell
201-262-6600 x144 office
201-965-3105 cell
0 votes Thank Flag Link Sun Nov 4, 2012
One of my clients who closed recently got 2.99% rate on a 30 yr fixed mortgage at Flagstar Bank Home Lending in Paramus, NJ. You may want to check with them for current rates. http://www.flagstarloans.com/dquinones

If you need help finding your dream home in Paramus please feel free to contact me. I live in Paramus and know the town well.

Good Luck
Elizabeth Garcia
Coldwell Banker
0 votes Thank Flag Link Sun Nov 4, 2012
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