Looking for a good broker for a 30yr fixed $510K loan with 15% down (Atlanta, GA)

Asked by Grant, 30022 Sun Jul 20, 2008

House in Atlanta, GA area. I am looking for someone who's transpasrent about their numbers (YSP, Origination Fee, '800' section closing costs etc) so I feel confident when making my final loan decision. My ducks are in a row and my middle FICO is >769. Want 30yr fixed.

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Will, , Atlanta, GA
Mon Jul 21, 2008
Hi Grant,
My name is Will. I am a mortgage banker with Wells Fargo. I'd like to see if I could be of assistance. Give me a call so we can discuss your options
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Debt Free Da…, , 85260
Sun Jul 20, 2008
You may want to do your research at http://getprequalified.com
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Luke Allison, , Asheville, NC
Sun Jul 20, 2008
You should feel confident about your loan scenario. The one thing you should consider is that $417,000 is the maximum conforming loan limit so if you want one loan at $510,000 then you need a portfolio lender that does not sell their files to Fannie & freddie. However, I think a better option is a combo 1st and 2nd mortgage. While there are few lenders who are originating 2nd mortgages behind a conforming 1st mortgage, we still are at Flagstar Bank. We are a top national home lender and offer very competitive programs and rates, especially since we offer combo loans.
As of Friday's pricing (new rate sheets come out at 10:00 am Monday), I could do the following loan:

1st Mortgage $417,000 @ 6.625% (Par Price)
2nd Mortgage $93,000 @ 6.5% (Prime + 1.5% - Par as well)
* If you want zero origination, then I could run your first mortgage at 7.00% - no change on the 2nd.

If you have any questions, please give me a call. I am right up in Asheville, NC and I can originate in all 50 states - I actually do quite a few loans in Atlanta.

Luke Allison
Flagstar Bank
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