Jumbo Loan For Client ASAP (HOW DO I SAVE MY CLIENT'S DEAL)

[Rashad S.]

URGENT!!!!!

I have a client who's using a Jumbo Loan to purchase a home here in Atlanta Ga.  The problem is her Credit Union just told her that they can't do a 90% loan at the last minute (her finance contingency is up tomorrow).  Appraisal was already ordered and everything.  Supposed to close on 10/18/19.

HEEEEEEELP!!!!!! LOL

How do we save the deal?????  How do we find another Jumbo Loan with 10% or lower down!?!?!?!

[Chris Mason]

Fastest lender in the marketplace right now offering 90% LTV Jumbo (PMI baked into rate), without a doubt, is United Wholesale Mortgage.

This example is unusually fast, I called in a favor, it just so happens that it came in today, you will not be QUITE this fast.

But you also won't be too far off that.

Note that these turntimes are AFTER the borrower is done with however long it takes them to apply, send in paperwork, etc -- that's the #1 cause of lender delays a lot of the time. Look at the timestamp of when I locked the rate v when I was in a position to submit to underwriting, it was no big deal on this one, but for your deal you cannot afford your client to create such a lag, those are just wasted days that you don't have to waste.

To hit your deadline, hopefully your borrower is fairly cookie cutter and hasn't been doing those fun things like opening new credit cards, moving money between accounts, etc. 

I'm only licensed in California, Bay Area and SoCal is most of my business, so I can't help you directly. You need to find an independent mortgage broker in Georgia, UWM does not work with direct lenders and bankers, but they are #1 in wholesale/brokered world.