Mortgage Brokers
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2011 - 2013 Reviews
Looking for a mortgage broker or loan officer
Sept 2013Hey BPN, I live in Piedmont and am looking for a mortgage person. My last mortgage broker retired. I am looking to refinance now that I have things in order. Could you please give me a few good people? Thank you, anonymous
Monica DiPerna is fantastic. I have used her for home purchases and refi's 7 times now and she is consistently fantastic. We have obtained great rates on mortgages with our complex situation:self employed, jumbos, non-owner occupied, etc. She is thorough in identifying the standard info we have to gather and then anticipates what the underwriters may possibly want for our situation and gives us time to gather the info before it is requested and becomes a rush. She is patient and calm in a stressful business and we have never closed past our original escrow date. Most of these mortgages were obtained through her after we moved to southern California and it was smooth every time. Her company is also a direct lender. The last rate we got on a rental property was equal to or better than the going market rate for an owner occupied home. She called me when she saw it and we locked immediately. Monica DiPerna Guarantee Mortgage 415-710-0354 mdiperna [at] gmwest.com -Karen
We recently refinanced with Shellie Seeger of Westcorp Capital (818-225-8499, Shellie [at] westcorpcapital.com). We tried several names from the BPN archives, and Shellie was immediately available, helpful, knowledgeable and on it. She was incredibly perseverent with our loan work, trying numerous avenues as various options weren't open to us for one reason or another. Once our loan was approved her team handled all the paperwork expertly and efficiently over email, fax etc. Shellie and her team are friendly, professional and got the job done-- when our three local banks had all told us ''no'' after a brief phone call. I highly recommend her! Happily refinanced
I highly recommend Kenny Leather in Berkeley. He helped me, my mother, and my brother refinance our loans (my mom and brother have gone to Kenny for refinancing several times over the years). He is professional, knowledgeable, and walks you through the process step by step (plus he is a really nice down to earth guy). I had a different loan officer for my initial loan and she was absolutely awful. Kenny made the process so simple. http://www.yelp.com/biz/kenny-leather-princeton-capital-berkeley -happy with my refinance
Joe Acker who can be reached at jacker [at] mmcdcorp.com or 510-339-5933. Fantastic guy. Helped us a couple times with refi. Very hard working and responsive. He went above and beyond for us. Tina
Having tried a few, I highly recommend my mortgage broker, Dianne Crosby, of RPM Financial in Orinda. Competitive rates, great service. Dianne was the top performer at Lasalle Financial in Montclair for many years before moving to Orinda, so she knows the local market. 925-743-3501 Michael
Hi-I can very highly recommend David Gunning -he is an extremely helpful and professional mortgage broker . David offers the best advice/solutions with no pressure, and he always has your best interest in mind. You can reach David at: phone 510-406-6958 email david [at] apmadvantage.com SF Professional Mom
I can highly recommend Julia Demeter of Commerce Mortgage to the person who wants a mortgage broker. She is honest, patient and willing to take that extra time to explain the ''fine print'' to you. She's wonderful! Camille
Mortgage broker/ speaker talk about buying a home
Aug 2013I'm looking for a mortgage broker and/or a financial counselor who can come speak at an informal seminar on buying a home in the bay area. This event would be hosted by several special interest groups at my organization, not directly by my employer. While the event will be open to everyone at my workplace, the targeted audience is young professionals and employees with family obligations. Any recommendations for someone who can provide our group with an overview of the financial planning needed to buy a house now, or in 5-10 years? Thanks! Rebecca
I have an excellent recommendation for a mortgage broker that I have been working with for the last 20+ years. She has clients all over the bay area. Here is her information: Suzanne Diliberto Guarantee Mortgage 750 Lindaro Street, Suite 350 San Rafael, CA 94901 Ph: 415-925-2873 Cell: 415-710-0396 Fax: 415-461-4009 sdiliberto [at] gmwest.com NMLS #286438 DRE #00991022 GM NMLS #2527 GM DRE #01370741
Denise
Hi Rebecca, I'm not sure my recommendation would be the perfect mortgage person for you, but she is a great speaker and very knowledgeable. You might want to take a look at her website and get to get an idea of who she is and then have a conversation with her if she's seems like what your looking for. Her name is Evelyn Freitas Rogerson of C2 Financial and her website is http://www.evelynrogerson.com/ Evelyn also has a great relationship with a financial counselor and can refer you to someone else if she doesn't fit the bill. Sydney
Lender & Realtor for 203(k) FHA Purchase in Berk.
Jan 2013We need recommendations for lenders and realtors experienced with 203(k) FHA loans for purchase and rehab of a home in Berkeley. Thanks. Future Homeowner
Hi, This is Eric, I am responding to your post on a good 203k loan. I have worked with Heather Headly of Mason McDuffie Morgatage in Berkeley. Office: 510-339-5939 Email: [email protected] She will def. take care of you, and she really goes a few extra miles to get it all right! She is Local, (1400 Shattuck Ave. #14) and really knows her stuff! The 203K seems to be the perfect way to go with the purchase of a house that needs work, things get done fast, and very little money to put up for the project. She is good at these types of loans! I think you would be happy to work with her. Eric S
Mortgage broker for refinancing with Sept 2012
I'm seeking for ethical and knowledgeable broker to refinance my mortgage. I may not have enough equity in the house and don't want to just randomly apply and only to find out at the end that the appraised value is too low. So I'm hoping the broker would help finding a way to estimate the value or have other options for refinancing. Any recommendations or advises will be greatly appreciated. Michelle
Two months ago, mortgage consultant Evelyn Freitas Rogerson basically saved our backsides. The bank randomly cut off our revolving credit line. With a remodel scheduled, we didn't know what to do. Evelyn stepped in, did research, wrote a letter to the bank and sent it with appropriate attachments. Two days later, our credit line was restored! She said not to worry, she'd handle it and she did it beautifully and quickly. Evelyn works with C2 Financial Corp. Her phone # is 372 4864 and cell # is 501 8473. Or email Evelyn.Rogerson [at] earthlink.net We could not be more pleased.
We didn't use a realtor when we bought our duplex from our landlord. Instead we relied on our mortgage broker Don Gates of Metrocities Mortgage (925) 708-7088 to steer us through the process. Two years later he helped us refinance our house at a lower rate. He's great, absolutely great. - Berkeley Home Owner
We were very happy recently (Mar 2012) with Pacific Western Mortgage Group (Ms. C. Tran was great). They were very ethical and spent a lot of time going over our options/needs with us. Following a bad experience trying to refinance through our bank (where we were offered a bad rate/poor service) we were very pleased with the time and energy that Ms. Tran spent in finding us a really good rate and finding a loan that met our requirements. I am not sure about your specific situation, but I can highly recommend PWMG / Ms. C. Tran. at (510) 654-2200 or http://www.pwmglending.com based on our great experience with them this year. Happy PWMG Customer
Looking for Knowledgeable Mortgage Broker
May 2012We are hoping to move to Berkeley from Vallejo. We need a mortgage broker knowledgeable in situations where the first house will be either kept to be a rental or ''short-sold'' (is that the past tense for short-sale?!) We would love someone who is efficient as time is of the essence. Thank you!
Julia Demeter with International City Mortgage in Montclair is wonderful. She will educate you about the loan process, rather than try to sell you on it. She has great integrity and makes sure that you are well-prepared for every possible contingency. Her number is 510-356-2718. Camille
VA Loan Mortgage Broker
March 2011My husband and I are looking for a mortgage broker who is truly experienced in VA and CalVets loans. We've spoken to several brokers who claim to know about them and then turn out that they've done one or two. These loans are specialized and we need someone who really understands the ins and outs of using them. Thanks so much for any suggestions. Hoping to be a homeowner
We went through the same thing last year with several mortgage brokers who claimed to know VA loans but really didn't. We ended up going with Wells Fargo, specifically Nina Jones in Oakland and she was fabulous. When I called the VA help center directly, they mentioned that Wells Fargo does the highest volume of VA loans in the country, so even if not so many are done here in the Bay Area, they have a whole department to fall back onto for advice. I would definitely give Nina a call, 510-267-1309. Good luck. DP
I would urge you to contact AJ Nisen, Sr. Mortgage Loan Officer at B of A. AJ brings a results focused, ''can do'' attitude to each meeting. He has integrity, listens to your needs and most important - been a pleasure to work with! If you're looking for someone who will deliver results, you should contact AJ. 925-677-4169 - work. aj.nisen [at] bankofamerica.com Kathy
Need mortgage broker for refi
Jan 2011We're trying to refi our mortgage and need broker recommendations please. We deal with two already and they are both disappointing in service. Thank you. zipcount
Karen Ward is fantastic. She has helped us with two loans, and we have referred many friends and family to her. Everyone has been happy with her work, and several have said they saved thousands through lower interest rates. Karen [at] RELoan.com (510) 559-4000 R.E. Loan Mortgage 1300 Solano Avenue Albany, CA 94706 Happy Homeowner
There's only one broker I will ever use again: Shellie Seeger President/Broker Ph: 818-225-8499 Xt.223 Fax: 818-225-0153 shellie [at] westcorpcapital.com We got turned down FOUR times by banks last year when we tried to buy our house (for reasons that had to do with the house, a fixer-upper, not our finances) -- twice we were led on and down by Holmgren in Montclair, to the point where they just stopped answering our calls -- NEVER use these guys! Shellie not just got us the loan, and not just got us an incredible interest rate, but this year she refinanced our house at an UNBELIEVABLE interest rate! She rocks! Happy Client
Regarding a mortgage adviser, Dave DiVecchio of CMG Mortgage has done great by my wife and I. I have professionally and personally worked with several mortgage brokers and he by far provided us the best service and clarity. Mortgage advisers have so many more hoops to jump through now with the overreaction in legislation since the housing meltdown which means a lot more is required of those looking to get a new loan or refinanced. He will make the process much more bearable and is professional and friendly. His number is 925-595-9194. Just let him know I sent you his way chris
I really like Julia Demeter 510-339-4450 x204. She is patient, knowledgeable, and friendly. She never made me feel stupid for not knowing things, she always called us back or answered her phone, and I trust her. talia
Jim Aron of Pacific Western Mortgage Group just completed our refinance. Jim's whole shtick is transparency in lending, educating a potential customer about where the money goes, what all the alternatives are- points, no points, rates, etc. Thorough, masterful, and a great sense of humor besides. 510.654.2200 The office is at Watergate in Emeryville. Easy on and off the freeway, easy parking. Peter
I highly recommend Ted Maniatis with MPR Financial (http://www.mprfinancial.com/who.php). He helped us with the mortgages on our first home purchase four years ago and worked us though refinancing last year. He's incredibly helpful and really knows his stuff! Good luck! Suzanne
Russell Doi 510.305.9476. We have been working with him for a year on a new home purchase(it's taking us that long to find a place) and can HIGHLY recommend him. He's detail oriented, responsive, and takes the time to explain things so you understand what you're getting into. anon
2009 - 2010 Reviews
Mortgage broker to help with refinance
Oct 2010Looking for someone to help us get into a better financial position with our home mortgage. We are part of the many affected by the housing crisis where our loan is nearly the same amount as the value of our house. It just kills me that I can't take advantage of these amazing mortgage rates right now by refinancing so I just want to speak with anyone to see if they can help. Please let me know if you are aware of any mortgage brokers who can help in this situation. Thank you!
John Schaff at Republic Mortgage will listen to your story and find the best solution for you. you can reach him at 916-289-1816 over my head too
I can't say enough about Dianne Crosby at LaSalle Financial in Montclair. She is professional, fast and friendly. I have heard many success stories about her because my husband is a realtor and has sent many clients her way with positive outcomes. You can also look her up on Yelp to read more reviews about her. Her contact info is: Dianne Crosby Senior Loan Consultant LaSalle Financial Services 6201 Antioch St., Suite 200 Oakland, CA 94611 Mobile: 510.541.1662 Office: 510.339.4300 x104 Fax: 866.789.1122 License # 01348308 Email: dianne [at] diannecrosby.com Laura
Jana Lane of Prospect Mortgage is an experienced and understanding mortgage broker. She'll assess your situation amd make recommendations without pressuring you. We worked with her and found that she really puts her client's interest first. I also remember seeing her recommended by another BPN member. Jana's phone number is 415-425-0857. Her webpage is www.ownrealestateright.com. Julie
FHA broker recommendation
Feb 2010Hi, we've been looking into FHA mortgages and have talked to one person who told us that we would be paying mortgage insurance until we had 80% equity. I'm wondering if this is standard, and if others have had this experience? Also, we'd like to check with at least one other FHA broker for comparison purposes. If others have someone to recommend, that would be great. Thanks.
We had a great experience with Mathew Carson of First Capital Group. He was referred to us by our friends who recently purchased their home using an FHA loan and loved the service /knowledge that he provided. He came over to our house and went over the pros and cons of FHA - doing a 'regular' loan, which we really appreciated. We had been told by other people that FHA was a nightmare and difficult to do, but for us it was a breeze. Granted we have nothing to compare it to as we were first time buyers but apart from signing a mountain of papers the experience was great ! You can reach him at 415-440-5626 or mcarson [at] fcgmortgage.com paul
Try Mathew Carson at First Capital Group. We used him when we purchased our home and again recently when we refinanced. While we did not go the FHA route I'm pretty sure he does them as it came up in our recent conversation. He's a great guy and takes the time to really explain the process and what you can expect. You can reach him at 415-606-4252 or mcarson [at] fcgmortgage.com sally h
Sept 2009
We want to refinance (or at least look into it), and our original mortgage broker through BofA has left due to illness. He was such a great guy - friendly, trustworthy, conscientious, helpful, responsive to our many questions without ever making us feel as clueless as we were. He's really the main reason we went with BofA to begin with. Now that we're there, we'd like to stay for a variety of reasons, and are looking for another trustworthy, friendly person. The guy who took over for our original broker leaves a lot to be desired. Can someone recommend a BofA broker to us? Jenny
got the guy for you! Marc Loeber marc.loeber [at] bankofamerica.com 415-464-3167 good luck
I just bought a house and used Michael Adams, he lives out of the area, but was very helpful and responsive- always available by phone. I was very comfortable with him, and would recommend using him. His phone number is 530-842-1740, or 925-989-5329. Lisa
I do not know a broker at Bank of America but we used a great guy from First Capital Group. His name is Mathew Carson. We were first time buyers and he really helped us understand the process and was very clear about all the fees associated with the purchase. We have refinanced with him recently and referred other friends to him, all who seem to be very happy with both the service he provided and the interest rate they got. becca
Sept 2009
Currently, we have our first mortgage with Wells Fargo (WF). It's a 5 year-ARM, which is set to adjust next year. We contacted WF 2 months ago and began the process of refinancing, trying to get a 30-yr fixed mortgage. Our house appraised for the same amount we bought it for 4 years ago. Now, WF is saying they won't honor their commitment letter because both mortgages would be for more than 90% of the appraised value (even though they're only financing the 1st mortgage and not assuming any more risk than they have now). Our credit is perfect. Our income has doubled over the last 4 years. And our neighborhood is very stable. We're current on our payments and there is little risk that we'll fall behind. What do we do now? We've heard rumor of people who advocate on your behalf with the bank to get you refinanced - not mortgage brokers. Do such people exist? How successful are they? Should we contact a mortgage broker? Any suggestions? Looking for a ''fix''
Avoid WF at all costs!
We've owned 4 homes over the last 13 years, and 7 mortgages and refi combined. During that time, we've ALWAYS used brokers and were very satisfied with their service and rates they were able to find us.
With this last house, we bought it in July 2008, and when rates went down, we wanted to refi. Our current mortgage was with WF, so given the craziness of refi rules, we opted to go directly to WF for the refi. It was the WORST decision we ever made. Firstly, it took twice as long as any other refi we've ever done with a broker. Secondly, they did the ole' ''bait and switch.'' We specified our requirements (didn't want to pay points), and needs. So for over 6 weeks, we were led to believe we were getting one rate with x points. It was good, which is why we were so patient, but again, took much longer than any other time.
When the paper work was delivered for us to sign, it was for a low rate but paying over $7k in fees/points!! this was not what we agreed upon. Long story short, bait and switch. I would like to believe it was the inexperience of WF mortgage guy. But with all the financial snakes freely taking advantage of working class, I tend to believe it was more sleezy than inexperience.
Go to a broker. They can shop around for you, have access to many lenders, you can negotiate their fee (WF charges the same fee as we've paid with a broker), and they'll bust their tail for you, so that you're a return customer. good luck. trusting noone
Hello, I would highly recommend having a mortgage broker. We have used Karen Ward at RE Loan on Solano Ave. twice and my parents also recently bought a house with her very sound, patient and excellent service. I feel strongly that using a reliable, trusted broker can alleviate any stress in the whole process of refinancing. And get you a better deal. With your credit and job history I can't imagine there being a problem. Karen Ward's business is Residential & Commercial Real Estate Loans Karen [at] RELoan.com (510) 559-4000 R.E. Loan Mortgage 1300 Solano Avenue Albany, CA 94706 Good luck! Monica
You might want to consider a different lender. We have financed and re-financed directly with Fremont Bank using their no interest loans several times over the years. You deal directly with the bank so you don't have to pay mortgage broker fees and they have been great to work with.
Good luck! It is good that you are starting early. Nikki
I worked with a great mortgage broker, Mathew Carson, from First capital Group in San Francisco, 415 440-5626. He came to our house and went over every detail with us which really helped us understand the process. Highly recommend him. becca
Dear Looking for a Fix,
As someone who has just finished refinancing myself, I highly recommend that you avoid going to your own bank (there is no benefit to them if you refinance for a lower interest rate, so why should they try and help you?). Try working with a mortgage broker, who will be able to work with you, and shop around to find a smaller lending institution who will give you a lower rate.
I used Rick Williams (email rickrew123 [at] GMail.com) who happens to be up in Sonoma, but it doesn't matter where your mortgage broker is from. They can get much, much better rates that we can, just walking in off the street. I double checked his rates (including the broker fees, closing costs, in addition to the APR 4.25% for a 15-year fixed) and he was actually cheaper than every bank I checked - Wells, B of A, Mechanic's Bank, Chase, Citibank (I had my mortgage with Citi originally, and they weren't interested in refinancing by more than a quarter of a point less than my original rate - sheesh!)
Email Rick - he just switched from the firm he had been with to a new one, so I don't have his new phone #) and see what he can do for you. You've already got your appraisal, so that's a plus. Our refi went through a small finance company, Provident Lending, and within three weeks was re-sold on the secondary market and purchased by, get this -- Wells Fargo. So, the bank that wouldn't refinance my home for less than 5.25% purchased my mortgage from Provident for 4.25%. Go figure.
We rolled in the cost of the refinance into the loan amount (closing costs were about $5k on a loan of $250K), so we had no upfront costs at all except the appraisal fee, which is paid directly to the appraisal company.
Good luck, and I hope Rick can help you. He will be down in Berkeley on Oct. 8th at one of the City of Berkeley's home energy workshops (I think at St. John's on College, 7-8:30 pm) so you can meet him there in person. Alice in Berkeley
Aug 2009
Can anyone please recommend a reverse mortgage broker or consultant in the Berkeley area (or nearby) who is experienced and reliable/trustworthy? If there is someone you have had a bad experience with, we would also appreciate the warning. Trying to help my aging parents Does anyone know of a credit union in the Bay Area that is offering reverse mortgages? We're trying to keep the start-up costs down. Seeking reasonable rate on reverse mortgage
Laura Levy of Holmgren Assoc. 510-521-6265 is both knowledgable and very caring. I wholeheartedly recommend her. Isadora
I have done a couple of reverse mortgages for clients with similar situations as yours and used conventional lenders with some success. There is also a company by the name of Nestworth that offers only reverse mortgages. The advantage is they are a private company so do not have to follow the government guidlines that conventional lenders are required to. That being said, I am slightly skeptical about the program and would suggest you do your due diligence before hand. ie how long is their capital going to last? mathew
I recommend you talk with Laura Levy about reverse mortgages -- she specializes in them. She's very knowledgeable, experienced, and kind. Her office is (510)521-6465 and cell (510) 219-4997. E-mail is laura [at] mortgageholmgren.com I arranged a reverse mortgage for my elderly mother (not through Laura -- my mom is in the Southeast), and it was the only possible way for her to remain in her home. We are realistic though, and don't expect to have any equity left by the time she is no longer able to live there and the loan is due. It's an expensive loan, but you can amortize the costs over time and minimize your risk with mortgage insurance (I believe it's required). Good luck. Anon
Marge Bottari from All California Mortgage has helped a lot of my friends parents. She is fabulous and knows her stuff. 415 464 8209 415 305 3425 mbottari [at] allcalifornia.com rachel
April 2009
My husband and I are looking to buy our first home. We both work for non-profits so are priced out of many Berkeley and Oakland neighborhoods. That said we'd like to find a trustworthy person to help us get into a neighborhood we feel good about while making sure we're getting a solid loan. Recommendations for brokers who have been successful in the current market would be particularly useful. anon.
I have only great things to say about our mortgage broker, Robert Jackson, at BayCal Financial. We bought our first home with him in 2001, have refinanced twice, and are currently looking to buy again with him. He returns phone calls promptly and is patient with the many, many questions that I ask. He is traveling at the moment, so he may be unavailable for another week or so. His number is 888-884-6668 x21. Adrienne
Jim Aron with Pacific Western Mortgage helped me buy a first home years ago. I say ''helped'' because I really wouldn't have been able to buy a home at that time without his assistance and knowledge. Since then, we've used him several times. Jim is a smart guy who knows about all the different programs with different lenders. We've known him for years and wouldn't dream of using anyone else. His phone number is 654-2200. Happy to recommend Jim
I would highly recommend Christine Nadeau of Bank of America at 415-438-5079. Her office is in San Francisco, but she lives in the East Bay so I've met with her here in the East Bay. She has over 20 years experience and has an excellent record for not giving out the loans that have gone bust. She may scrutinize your finances a bit more, but its because she wants to make sure the loan is a good fit for your family situation. I would give her a call. Sue
My husband and I have worked with Zach Griffin for many years. He is honest, reliable and straight forward. We purchased our first home with him and have worked with him over the years on other investments and refinancing. In addition to being patient and understanding - he is always available to answer questions and we have found him to be accessible and knowledgeable. He is with La Salle Financial in Oakland - his number is 510-339-4300 x117 or you can email him at loans [at] zacharygriffin.com margaret
We just bought our first home 1 month ago using Paul Lackovic. He didn't help us find a home or discover neighborhoods (that was all our Realtor, Jackie Gallanagh - she's amazing), but he was great with the fanancials. We found an inexpensive (for the Bay Area) house in a really cute part of San Leandro that already had an offer on it. The seller chose our offer over the other one, in part because the seller felt very secure about our ''numbers'' after talking directly to Paul. Paul also was really good about giving us accurate estimates - he didn't lowball the numbers in the beginning in order to reel us in. We actually ended up having a slightly smaller monthly payment than he had projected. Paul got us a good bank and a good rate, and we got a great house... we're happy! Paul Lackovic, RPM Mortgage - 408.813.5611 paul [at] paullackovic.com - www.paullackovic.com Good luck to you! - sara
Greg Herman at Holmgren and Associates on Mountain Blvd. in Montclair (Oakland) recently helped us buy our first home. We bought in Oakland in this down economy. I work for a nonprofit as well and don't earn much and my husband is a recent immigrant with no credit history and we were able to get a great rate, good terms, and solid 30 year fixed mortgage through Greg based only on my income and credit history. He was good at explaining the process and a generally good guy about explaining how the real estate industry works. He came recommended to us from a different realtor we'd worked with. We had some issues with her but we liked him and he had no issues about continuing to help us with no animosity toward us despite our split with the first realtor. He even helped recommend a variety of other realtors and we did go with one he suggested after getting recommendations from others on this list for some of the same people he recommended. Overall, very good experience with him.! Greg Herman, 510-339-4450 or greg [at] mortgageholmgren.com Rebecca the happy homeowner
We really like our broker, Pete Garcia. He helped us tremendously in our refinance just as things were starting to go nutty. Thank god he somehow managed to make it work as we are now in a 30-year-fixed!! I believe he has lots more good reviews and contact info on yelp. Read more details of our experience with him there, too. Highly recommended. Good luck! Shoshana
For the poster looking for a trustworthy mortgage broker, I highly recommend Wayne Chin @ ERA Vision Mortgage. If there is a lower rate out there, he'll balance out the cost and tell you if it's worth getting or not. All the ''points'' and ''fees'' talk was very confusing to me, but he explains it in a straight forward way. There are a lot of brokers (especially on the radio commercials) that are total scams, but Wayne will not put anyone into a bad loan. His website is: http://www.waynechinhomes.com and his phone number is 510-813-1379. Hope that helps! Satisfied Client
I highly recommend Cecil Dunlap. He works at 1st Western Home Loans in Danville (Blackhawk). He is very knowledgeable, efficient and has a great sense of humor. He answered every question honestly and to the point. We were first time home buyers and he helped us tremendously. We had done a lot of research on home buying but we still needed someone to move us in the right direction. Cecil was there every step of the way. He always returned our correspondence and answered every little question and detail if not more. Our case was a little complicated but through diligence and guidance, Cecile got us through the entire process painlessly. We cannot say enough positive things about our experience with him. - V. Davis Cecil's contact information: PROSPECT MORTGAGE -1910 Olympic Blvd. Walnut Creek, Ca (925) 984-6472 (updated Dec 2011)
We also used Mathew Carson from 1st Capital. Nice guy, funny and sharp. He came over to our house one evening and went over in great detail all the options we had and what he thought would be best for us. We were first time buyers and really had no idea about the process but Mathew was very patient with me and all my questions. So, to make a short story long, he was wonderful and found us a loan with a great rate. I highly recommend him. becca
April 2009
We bought our house almost a year ago, and are now looking at whether or not we should refinance at the lower rates available. We've looked at online calculators, etc., and it seems like it might be advantageous, depending on the fees. Unfortunately, we felt like the mortgage broker we used last year was not keeping up with the changing market, and was not available when we had questions. So we're looking for a recommendation of a mortgage broker who would be willing to help us figure out whether a refinance is right for us or not, even though that means they might end up without a commission. If we do decide to refinance, we want someone who is willing to walk us through the process. Any ideas? Possible refinance?
We just re-fi'd with Ellice Kaminsky of Thousand Oaks Financial, on Solano in Albany. This was our second re-fi with Ellice, and she's always been great to work with. She walks you through all the paperwork (if you want that level of detail), knows how to watch the rates before locking in, returns calls promptly, etc. I highly recommend her: 559-3330 Jeff
I recommend Alan Baskin of KLA Mortgage, Albany as an excellent mortgage broker: (510) 559-6830. He is very proactive and knowledgable. We have used his services twice for refinancing and were very satisfied. Anon
I feel confident recommending Richard Sintchak at Wells Fargo. Richard shepherded us through our first time home-buying experience with much information and patience and no pressure. We know of many other first time homebuyers who have used Richard both before and after us, and all loved working with him. We are refinancing with Richard at the moment also. Richard Sintchak Sales Manager Wells Fargo Home Mortgage 3214 Fillmore Street San Francisco, CA 94123 (415) 396-7970 Tel (866) 922-5125 eFax (415) 867-1519 Mobile Email: richard.m.sintchak [at] wellsfargo.com Website: www.wfhm.com/richard-sintchak anon
The northern California mortgage broker ''whiz'' is Sue Thomas at La Salle Financial in Montclair. She was recommended to us by our accountant, and we have used her services three times in the past eight years. She knows what's happening this minute, and has a good relationship with the banks and other lenders. She is kind of a fast talker, and can do the math in her head, but she is easy to understand, and helpful all the way through. I highly recommend her. Diana
I highly, highly recommend Vincenzo Scalisi for your refinance. We went to Vincenzo in December of 2008 and he found us a fabulous rate for our refinance. We are literally saving thousands each month. He is easy to work with, knowledgeable about current trends and responsive. He is in San Francisco, but came to us in Walnut Creek. Contact him at vscalisi [at] earthlink.net. Good luck! Lauren
I just closed on a re-fi in January, and used Vincenzo Scalisi as my mortgage broker. Vincenzo quickly found an excellent interest rate, was very service-oriented, responsive, organized, and great at the details. The closing was very easy and smooth. Overall, it was as good an experience as one could have with this sort of thing. Vincenzo's number is 925 354 3100. Very happy with my re-fi!
March 2009
Can anyone recommend an experienced, honest, reliable reverse mortgage broker? I am looking to get a mortgage on my parents' house in LA, but I'm having a hard time finding recommendations/reviews/testimonials of reverse mortgage professionals. I want to work with someone with knows exactly what he/she is doing, who can educate me as to the process and outcomes, and who can make it all happen FAST. Please, if you know of anyone, reply with their contact info and let me know WHY you love them! Thanks BPNers - sara
Marge Bottari from All California Mortgage is fabulous- really listens, and will do everything in her power to help. 415 464 8209 (direct) 415 305 3425 (cell) mbottari [at] allcalifornia.com rachel
I highly recommend Liz Litea. Liz is smart, experienced, and a really nice person who will happily take the time to explain everything you need to know. Here is her contact info: Liz Litaea Windsor Capital Mortgage Corporation (415) 748-2626/dir liz.litaea [at] windsorcap.com My Blog: http://mortgagematters.thewrittenblog.com ariel
Jan 2009
Hi there, We really need a referral to mortgage person. We had to do improvements to our house a while back and refied-- now our mortgage is killing us. With current rates so low we're hoping to refi our way back to sanity. We've got two little ones and I've had to go back to work full-time just to pay the mort! thanks for any advice~~ house-poor Mama
We've used Alex Zarkoub to refinance, now for the second time. He's very responsible and we've never found better rates. He does what he says he'll do when he says it. I can't say if he can help refinance out of a bad situation (which it sounded like the poster might be in) -- the banks are very picky right now. But, if you're a viable candidate for a mortgage, he seems to do a fine job. Alex Zarkoub alex [at] interbankfinance.com work (650) 571-5792 Cell (650) 520-0895 Fax (650) 571-7414 anne
we have used Zach Griffin for the last 15 years - great guy - great office and always gave us the best recommendations. http://www.lasallefinance.com/zgriffin.html Tell him Hi from the Deuber's Stefanie
I can recommend Richard Pavao at California Real Estate Finance in Alameda, (510)521-0300. During the big credit crunch crisis last Fall I did a no-cost refi with him and everything went great. He's easy to work with, his rates were competitive and there were no surprises at the loan doc signing. I'll probably refi again with him if rates keep going down. His website is www.calrealestatefinance.com. Dan
I highly recommend Alan Baskin at KLA Mortgage on 4th Street in Berkeley. He is very honest, friendly, and will work very hard to make sure you are happy with the outcome. His number is 510-704-1050. Peggy
We refinanced with Rick Weber of California Real Estate Finance in Alameda a while ago and, since rates are lower, we're refinancing with him again because he's saved us so much money. Rick doesn't mind when you ask dumb questions and, more important, he doesn't mind when you ask the same dumb questions repeatedly! (You'd think I'd have this down by now.) He is able to back up his opinions about the market and time has proven him to be correct about many of his predictions--this is comforting for someone who's not savvy about the financial world. He lays out all your options, makes sure you understand them, and then he's not pushy when you begin to make your decisions. Rick is willing to wait for you to do what's right for you, but he is conscientious enough to let you know how timing might be a factor in certain situations so you are totally informed. He is transparent in his process so there are no surprises. Rick is simultaneously creative and practical when it com! es to meeting your needs, and I wish we had used him when we bought the house in the first place. He is able to I couldn't recommend him more. Please e-mail me at chris.chun (at) gmail (d0t) com if you want more information. His information is as follows: 510-521-0300 x270 (Work) 510-521-6340 (Fax) 510-301-4281 (Cell) rwloans [at] gmail.com www.rickweberloans.com Chris
2007 - 2008 Reviews
Dec 2008
Things seem to be changing so quickly economically right now. We are looking for a really good mortgage broker who can keep up with what's going on & help us find the best deal on a loan. Some of the brokers we have already contacted don't seem very good at communicating with us & updating us on changing rates and loan packages. Have you worked with anyone you liked a lot when obtaining a mortgage?
Try Sam Krueger with RPM on Solano Avenue above La Farine. He can be reached at 510-559-3881. He is really good at explaining things and has a lot of patience too. You can email him also at sam [at] samkrueger.com catherine
We're currently working with Mike Vodnoy at Fishman Financial on Solano. Mike knows that we're on the fence about buying right now due to the economy and the fact that we're a single-income family, but that doesn't stop him from providing us with good information, answering our many questions, and updating us on interest rates, etc. He will meet you pretty much any time. Our first appointment was at the crack of dawn on a Sunday. He'll make you all the coffee you want and will stay and talk with you until you feel you are armed with everything you need to know. Mike is professional and not pushy in any way.
I can highly recommend Rhoda Paul who is residential mortgage broker with Holmgren + Associates. I've been impressed by her expertise as well as her integrity. She's extremely easy to work with. You can email Rhoda at rhoda [at] gwenandrhoda.com or phone 510.330.3690. David
I just advised a poster in BPN's Advice Wanted newsletter to call our mortgage broker. I'll recommend him again: Call our mortgage broker, Zach Griffin. He is the best. We were in a financing pickle last year and he saved out butts. We have worked with him on a few different houses and the attendant mortgages and lines of credit for over 10 years now. He is nice, smart, and creative. He is on top of everything and always gives us good advice. I know many other people who have worked with him and will go nowhere else now. Zach Griffin Loan Consultant Direct: 510.339.4300 117 Fax: 510.339.4311 Email: loans [at] zacharygriffin.com http://www.lasallefinance.com/zgriffin.html Mary
Try Tom Nitsan. He was referred to us by our Coldwell Banker real estate agent back in 2000 when we bought our house. He is very knowledgeable and has been in the business for a long time. He is generally pretty busy though so it would be good to have your questions ready. He communicates well via e-mail. I don't have his number handy but his office is on Solano. Best of luck. Berkeley Buyer
Jane Glendenning at Holmgren and Associates in Montclair is THE person. She is very honest and good at what she does. dawn
Cindy Smith of Vintage Mortgage Group (925-227-8914, cindy [at] vintagemortgagegroup.com) in the East Bay has been in the business for 30 years, and she knows her stuff. Cindy helped us refinance six years ago, and is looking into a possible second refinance (but she is also forthcoming about NOT recommending a refinance if she doesn't think it would benefit a prospective borrower). In addition, Cindy understands the ins-and-outs of the mortgage credit certificate program, a nice little tax break for some first-time home buyers and people who haven't owned a home in three years (http://www.co.alameda.ca.us/cda/mcc_program/req.htm), but a topic that not all mortgage brokers even know about. Melanie
I went to Julia Demeter when I needed a mortgage, and she was helpful, informative, prompt, friendly, patient, and able to explain things to a lay person. I highly recommend her. She's with Holmgren & Assoc in Montclair. 888-420-0111 Talia
Try Melissa Milton at LaSalle Financial. She is an excellent mortgage broker, very trustworthy and spends a lot of time educating her clients and really finding the right loan for their needs. I worked with her on a recent mortgage and had a very good experience - much better than experiences in the past with other mortgage brokers. 510-339-4300 mmilton [at] lasallefinancial.com Tammy
July 2007
I've already checked the archives and am looking for some current mortgage broker recommendations. We're thinking about buying another house and need some creative advice on the best options. Clueless
Mary Lou Till from LaMorinda Funding Group is the person for you! She's VERY creative, and deeply devoted to her clients. She's one of the top producers nationally and does that by repeat business. Her clients just love her. Call her at (925) 282-6015. Her e-mail is marylou[at]lamorindafunding.com. Julie G
For a superior mortgage broker specialist who can help you find the best options for your loan, call Jim Aron at (510) 644-2205. He knows things that most of us aren't even aware of and he's very honest and easy to talk to. He's the best. Lynch.larry
I very highly recommend Gwen Hoople. Over the years, she's helped me with 2 home purchases, refinancing as well as setting up a home equity line. She's very knowledgeable, very thorough and absolutely a wonderful person to deal with. She will give sound advice and would never talk anyone into any risky arrangements. I'd never choose anyone else for my mortgage and related needs. You can reach her at (510) 301-3037 or at gwen [at] mortgageholmgren.com. Good luck! Rosie
Jenny Shore of Alternative Mortgage Sources is incredibly knowledgeable, resourceful and personable. I can give her my highest recommendation. Her phone is 652-7900, or email her at jenny[at]altmortg.com David
I highly recommend Zach Griffin of La Salle Financial Services. We have used him a few times and know other people who have used him. They all rave about him, as do we. He is smart, creative, and very nice. When we bought our first home more than 10 years ago, we didn't have much money. He helped us find great loans and avoid PMI. He later helped us with an equity line of credit on that house. Then, for our most recent home purchase, he worked extremely quickly to help us make an offer a house...when we weren't even shopping for a house! We saw a house, decided then and there we wanted to move, called Zach to help us get a letter together to go with the offer that was due in a few days. Then he helped us get our loan for the new house. All immediate, no lag, no hassle. He just handles everything efficiently and well. I can't say enough good things about him and his support staff. I *hate* financial dealings with a passion, but I never mind dealing with him. He makes it so easy. Zach Griffin La Salle Financial Services Direct: 510.339.4300 x 117 http://lasallefinance.com/zgriffin.html His office is in the Montclair district of Oakland. good luck!
Evelyn Rogerson, who works with Atticus Mortgage Group is a great broker. Not only is she filled with knowledge and good at getting you the mortgage you need, but she can explain it so it makes sense. Her number is 510 501 8473 or evelyn[at]vicjoshi.com Sydney M
I cannot recommend Ken West highly enough. I am a single mom and Ken was very creative--he helped me buy and refinance my home (twice) and he has helped several friends do the same. He was recommended to me by two friends who have worked with him for 10 years. He is exactly what you want. When I told him I needed to make repairs and could I refi, he pulled my credit report while we talked, took notes and told me when the rates were favorable, he would give me a call. Several weeks later, he called and followed through with the refi. Plus, he is a great human being and will travel to you. I have never seen the inside of his office. Ken can be reached at 415.383.9203. Tell him Michelle A says hi. Best of luck. michelle
i very highly recommend jenny shore. i'm a single mom with an under the table job and Jenny was able to get a no-doc loan and 100% financing so that i could buy a duplex. she is extremely creative and very helpful. she even helped me figure out that it was not a good idea to buy a place that i had been interested before i saw mine even though it would have been in her self interest to have me buy the place. she is very smart, very personable and and is able to explain all the money stuff...even to me, and i hate numbers! jenny shore 510-652-7900 jenny[at]alternativemortgagesources.com happy homeowner
Our favorite mortgage broker is Jenny Shore of Alternative Mortgages. We've used Jenny for a couple of refinances on our old home and then very recently on the purchase for our new home. She is so thoughtful and easy to talk to, and she possesses a tremendous sense of integrity. She found several solutions for some potentially tricky scenarios for us, and worked very closely with us to find the best loan for our needs. Nothing seems impossible for her, and she is so careful to make sure the whole process is as un-stressful as possible, even though all mortgages are stressful from my perspective (although nobody else seems to get as stressed-out about such things as much as I do). If it's possible to enjoy such a process, then Jenny is the one to make that happen! Her office is in Emeryville, but we often met where it was most convenient for us. She's very flexible that way. We also really appreciate that she's on the cutting edge of finding ways to ''Green'' the mortgage business and works with all kinds of creative buyers and properties. Her number is 510-652-7900. You should at least call her and find out if she's a good fit. Your mortgage broker is somebody who you should totally be able to trust and connect with. We highly recommend Jenny. Good luck! Julia
Hello! Here is a great person for a discussion of what your needs are concerning a mortgage. She is trustworthy, she will listen and give you want you want. Here is her name Julia Demeter at 520-9700. email is: julia[at]mortgageholmgren.com Karen K
I am a former mortgage broker and know many loan people - lots of mediocre and bad ones; every now and then a real professional. Here are two that you can trust to guide you through any scenario: Rise Myers, 925-838-4820 risemyers[at]sbcglobal.net
Nathan Petrowsky, 510-541-7382 or 925-465-7105 nathan.petrowsky[at]charterfunding.com
jessica
We have worked with Jenny Shore of Alternative Mortgage Services (510) 652-7900. I can not say enough about how helpful she has been. She has been smart, proactive, available and caring in her efforts to help us buy our next home. My wife and I have bought three houses, but we always seem to have to re-learn everything each time. Jenny is a patient and skilled teacher and support as well as being very astute about her business. Plus, she is a genuine person and a delight to be around. A rare combination. I cannot recommend her more highly. David
I recommend Rick Weber to any one looking for a mortgage broker. Whether you are a first time home owner or looking to refinance your existing home loan rate, we had an uncomplicated experience with Rick Weber at California Real Estate Finance. We had an ARM that was climbing every month. Rick calmly walked us through the daunted steps of our re-fi making the whole process quite smooth and informed. He refinanced our home with no closing costs and reduced our monthly payments by 00! Rick provides a variety of loan options including refinances with no closing costs, and has programs that can help first-time homebuyers, as well as those who face challenges in getting a loan. Rick Weber can be contacted at California Real Estate Finance, 2363 Mariner Square Drive Ste 141, Alameda, CA 94501 (510)521-0300 (Work), (510)301-4281 (Cell), rwloans [at] gmail.com (email). mg
Hello, In response to a mortgage broker recommendation, I would like to recommend Rick Weber, who helped up find a great rate. Rick is very professional and helpful, regardless of what kind of loan you are looking for. No pressure sales pitch, just the facts explained in a straightforward way. He is very patient and honest and made sure that we understood the options before we found and selected our mortgage. I recommend him without hesitation! Rick works at California Real Estate Finance in Alameda 510-521-0300 x270 510-301-4281 cell 510-521-6430 fax email: rwloans [at] gmail.com website: www.rickweberloans.com *** Ann-Marie
May 2007
I am seeking a loan to renovate an apartment in a building that I co-own in NYC in order to bring it to market value. The building has two apartments, and a restaurant below. The building is paid for in full. I do not want to refinance my residence in CA (for various reasons), but am having a difficult time finding a lender due to the issue of 'mixed-use''. Does anyone have any advice or a broker to recommend for this? I am looking for a loan of approx. 150K and would like to repay within 5-7 years. Thank you in advance for your assistance. Anon
I, too, found it impossible to find a lender for a small mixed-use building. My solution was to get a $250k equity loan on my residence. If you have $150k equity in your home, you might shop around for an equity loan. Joann
April 2007
Does anyone know of any good mortgage brokers to help me with a refinance of my property? I've got a variable interest rate that's going way too high and I don't want to just go with any lender, worrying that they could go belly up. Ideally I'd like to go with an interest only loan, but then I would probably want to do an addition to my property in order to afford the higher payment. So someone who has experience with costruction loans would be good too. thanks, Nader N
I think Zack Griffin of La Salle is the best. We have worked with him a few times over the past 10 years. Several other people we know have also used his services and rave about him. He is on top of everything,very creative, and great about seeking out the best loans. I cannot recommend him highly enough. I HATE anything finance-related, but it is never confusing or scary when I'm dealing with him. For example, we were planning a remodel and weren't even shopping for a house. We saw a house we liked and decided to bail on the remodel and make an offer, which was due in two days...after a weekend. We called Zach and he hopped to it, got a letter together for us and got loan paperwork started, and we got the house. I don't know if any other loan officer would have worked that hard that quickly. I feel he definitely made a difference for us. Here is his info: Zach Griffin Loan Consultant http://lasallefinance.com/zgriffin.html
The person you ought to contact is Jenny Shore of Alternative Mortgage. She is one of the brightest people I know. She thoroughly knows the mortgage market and all the products out there. I could not recommend anyone more highly. You can call Jenny at 652-7900, or email her: jenny [at] altmortg.com David
I have a great mortgage broker who has helped us with two refinancings and, more recently, with buying a new house. He's very knowledgeable and a nice guy. His name is Roger Smith at LaSalle Financial in Montclair. Phone: 510-339-4300 Cathy
Rose Sherzai at Holmgren Associates (510-339-2121)is the absolute best. She actually hears and keeps in mind your specific goals instead of just shoehorning you into a package. She's right on top of every detail and has a wonderful manner with clients. I really can't recommend her highly enough. Brenda
2005 - 2006 Reviews
Sept 2006
Excellent Mortgage Consultant
I've been meaning to write this for the past month (since we moved into our new home in N. Berkeley). For anyone looking to finance the purchase of a home or to refinance your current mortgage, I highly recommend Brian Moggan at Princeton Capital (his office is on La Salle in Montclair Village). He is very friendly and knowledgable, explains things extremely well, stayed one step ahead during the entire escrow process, and obtain a very competitive rate for us. Even more than that: he would come to our home for meetings since we had to meet in the evening and our baby would be going down for bedtime. We never had to meet at his office, arrange for a sitter, miss any work, etc. We didn't even have to ask him to do this, when he found out we had a 5 month old (when we first spoke on the phone), he offered to have the meeting at our house. When we had an issue arise at the last moment before closing (an issue really the fault of the title company), he didn't present us with a problem and make us scramble; he informed us of the problem and already had a solution as well. He was great, and I can't recommend him highly enough. His contact information is: Brian Moggan, Princeton Capital, phone: 510 -339-4719, email: brianmoggan [at] princetoncap.com Melody
Nov 2005
Excellent Mortgage Broker
I highly recommend Brian Corey as a mortgage broker. My wife and I worked with him recently because we were considering a refinance or a second mortgage to get cash for a remodel. Although we thought we knew what we wanted when we contacted him (a refinance), Brian spent a lot of time helping us understand different options, even though all of them would bring him less income than a refinance. He ultimately helped us decide that a home equity line of credit would be best for us, although that is his least profitable option. After doing a lot of work on our behalf, he finally suggested that we simply ask our bank to improve the rate on our existing line (meaning he made nothing from the deal). Brian was quick to respond to e-mails and phone calls, and was very friendly. We could not have been happier with our experience with Brian. You can reach Brian at bcorey[at]1stblackhawk.com.
MW
April 2005
Hello. I'd like recommendations for a trustworthy mortgage broker who works with clients with bad credit who are not too knowledgable about the mortgage process. My husband is trying to get the family home from his name into his brother's name so that it is no longer a liability for him. His brother wants the house and wants to assume the outstanding mortgage balance. However, he has terrible credit and has not been proactive in doing things like obtaining his credit report. I ordered it for him but he needed to send in info clarifying that his address was a residential address and not commercial and he hasn't followed up and sent that in yet. I want to take the next step and find him a mortgage broker to move this process along. Also, interest rates are rising. Any good recommendations are welcome! THANKS!!
Jason Russell of Rob Wolf & Associates is a fantastic broker who always gets the deal done. He has worked with clients with 100% financing, poor credit, self-employed, no verified assets, etc. Unlike many brokers who sit on the paperwork until the last minute, Jason gets things out the door immediately. He has appraisers that he works with to make sure that your appraisal is lined up as quickly as possible, and he really breaks his back getting the deal done in time or even early! It really makes a difference in today's competitive real estate market to have someone who can close your deal in 14 or 21 days, and Jason also has a great reputation among real estate agents. He also promptly responds to emails and returns phone calls and makes himself available to explain all your options. He does not just farm out your work to some lower down broker! He also knows all the little loopholes with the different lenders to help you get the best available rate, and unlike brokers who will sell you on an initial too good to be true rate, what Jason tells you is what you will get - period. We own several properties and have worked with other brokers, and no one can get a deal done like Jason. We started out like you with poor credit, no history of income (because we are self-employed) and no down payment, yet Jason got us our first house and with his help, we now own three properties and are considering a fourth, only two years later! Our net worth has gone up tremendously since we've been able to get in the real estate market. His work made all the difference to us! He and his family also live in the Claremont/Rockridge area, so he knows the East Bay. I highly recommend him! Mike and Jen
Jan 2005
Can you recommend an honest, patient, and intelligent mortgage broker? The archives listing's are over a year old and I'd love to get more recent recommendations. Please let me know how much they charge also. Thanks so much.
Hi, I am looking to buy a home, for the first time... and would like to get some recommendations of trustworthy mortgage brokers. Looks like the last time that the recommendations were updated on the web was 2003. Thank you, Scott
We used Lisa Wagner at KLA Mortgage in Albany. She is a straight shooter, reliable, quick and easy to work with. We actually closed in 15 days and got the lowest possible rate at the time when we bought our home. She made the process easy and was very friendly. She can be reached at (510) 559-6830. We like her so much that we used her for our home equity line. Maya
I highly reccomend our broker his name is Nhan Nguyen and works for Guarantee Mortgage (415) 810-4179 nhanttnguyen AT yahoo.com he is very patience, and sharp. we just purchased our first home and he got us in w/ 100% financing, on a 470,000 house in san leandro. he was willing to meet with u on weekends over coffee to explain details, kept in touch via e-mail about the progress of the loan i really, really loved this guy. and reccomend him, he is here in San francisco, the offices are by the opera house. Claudia
I love my mortgage broker - he's helped us buy two houses. He is the world's nicest guy, too. His name is Bob Casper and his phone no. is 925-932-7403. Fran
We are first time buyers in the process of home shopping and have been THRILLED with our Mortgage Banker and Realtor. We first got a recommendation to our Mortgage Banker through my husband's coworker who was also a first time buyer. We didn't know ANYTHING about buying a house and didn't even know what we should know to know when we were ready. no one would give us simple, black-and-white numbers. We were so frustrated!! We were referred to Marc Geshekter with residential Pacific Mortgage in SF. He sat down with us for 3 hours and explained everything we need to know about purchasing a home from A-Z, including several good faith estimates. Now we know, down to the penny, what we need to not just buy a home, but live in it for the first year. All this advice for free!! his info is:
Senior Mortgage Consultant (415) 354-5162, office (415) 983-0975, fax Residential Pacific Mortgage - SF 633 Battery St., Suite # 110 San Francisco, CA 94111 Melissa
Jenny is a mortgage broker and member of the Berkeley Parents Network. She is a very caring person who will help you find what you need: Jenny Shore - jenny AT shoregroup.ws or 510 845-5747 mel
I can wholeheartedly recommend Jim Aron of Pacific Western Mortgage (510-654-2200). His office is conveniently located on the Emeryville peninsula, right off the freeway. He has arranged two great mortgages for us and I believe most of his clients are repeat customers. A satisfied homeowner
2004 & Earlier
Sept 2004
If you are thinking of buying a home, please consider contacting Linda Herrera of Jacinto Mortgage Group (http://www.ALoanSourceLH.com) regarding your financing options (including no-down payment loans...they're available, too). In addition to being a likeable person, Linda is extremely knowledgeable about her business. She took a decidedly complicated situation and made it an invisible and painless process for us. All we had to do was show up in her office at a time of our convenience, bring our necessary documentation and let Linda work her magic. And, magic it was. We began our home search with every confidence that Linda had the situation well in hand. Adding to our comfort, Linda maintained contact with our real estate agent during the home search and contracting process. She made herself available and promptly returned any phone calls for which she was not readily available. For my next home purchase, I will definitely contact Linda first. Her customer service and support more than facilitated what could easily have been a nightmare. My husband and I highly recommend her services. Anne
March 2004
We just refinanced our house and had the most wonderful experience with our broker that I wanted to get his name out on this list: Cory Reid of Fountainhead Mortgage, (based in Emeryville). Cory was so thorough and efficient and good about explaining the process. He went out of his way to get us the best deal, which included negotiating a return of about $800 from the lender on the fees, and then switching lenders halfway through the process when rates went down. The new loan will end up saving us an additional $65/month. The icing on the cake was when we had to come in to sign the papers. Cory knows that my partner and I both work, and we have 2 small kids. He sent a notary to our house and covered the cost himself so that we wouldn't have to lug the whole family out. Cory's office number is 510.547.4111. katrina
Feb. 2003
I'm looking for a good mortgage broker who knows a lot about deals for first time home buyers and someone who is patient and clear and can explain things to someone who doesn't have a mind for numbers. Danielle
I'd like to recommend my great mortgage broker, Aubrey Bartlett, 650-577-5890 office, 415-572-7832 cell, with Pacific Guarantee Mortgage- he works the whole Bay Area. He is very experienced and has all the connections you could possibly need. He quickly found and locked just the mortgage that I needed (twice) and my situation was a bit complicated. And in addition, he is an exceptionally nice person- not pushy & sleazy like the previous broker that I worked with! You can tell him that Cecelia recommended him. Cfl
I ''inherited'' my mortgage broker from my father in law who has worked with him for 20 years. This guy is absolutely great! He helped me buy our house, refinance it, and is now working on a line of equity for my parents. He is very patient, extremely personable, and does a great great job at getting the very best rates. Please let him know I recommended him to you. But be aware - he is a very persistent salesman. So be clear about your decision once you make it. Merton Chun, Nova Mortgage, 2647 21st Avenue, SF CA 94116. (415) 665-3188. He does mortgages all over the Bay Area. Peter
We are currently working with Marjo Shaffer of Residential Pacific Mortgage as we get ready to purchase our next home. She is at 3201 Danville Blvd., Suite 195 in Alamo. Her phone number is 925-831-1855, her e-mail is marjo AT rpm-mortgage.com, and her website is www.rpm-mortgage.com/majo. I am not good with numbers and I have been very pleased with Marjo and her ability to explain things to me. Lori
We used Mitch Grashin in North Berkeley when we bought our house and we have since done two re-finances with him. What I like about him is he listens carefully to what our needs are, and then suggests different options, giving us the pros and cons of each one. He is very knowledgeable, and is good at explaining all the different advantages and disadvantages to someone who doesn't know much about financing. He is proactive without being pushy, and is a nice guy too, a dad with schoolaged kids in I think El Cerrito. His email address is mitch AT mortgageholmgren.com
Dec. 2002
Hi - we're thinking about buying a home and would like a current recommendation for a mortgage broker. I've seen some on the site, but they're all a year or more old. thanks! Stacy
Hi, We just refinanced (about to close) our mortgage and used Gary Paul at Chase in Walnut Creek. His phone number is 925-256-4120 x208 and his email is Gary.S.Paul at chase.com. We got great rates, and he was very responsive. Let him know I referred you, if you use him. Michael
My sister and I recently bought a house together and we used Lisa Wagner from KLA Mortgage 558 -6830, on Solano Ave. in Albany. She's wonderful, she got us a great loan and fabulous interest rate with our not-so-great credit, and at the last minute, our deal was about to drop through due to a mistake at our title co., and she stayed late to make sure that everything got straightened out. She knows tons about everything- including tax, and she explains anything you want. She's great. Brenda
I can recommend a fellow PTA board member who runs a mortgage brokerage. The following is the contact information: Thomas Tankka NORTHERN CALIFORNIA HOME MORTGAGE Tel/Fax: 510.338.1078 Email: norcal-mtg AT pacbell.net Maria
to the poster interested in finding a mortgage broker. i highly recommend bezhad zandi - 415- 892 - 2006. I did my original mortgage, and several refinancings, with him. Great service and good rates. margo
For a great mortgage broker, try Gwen Hoople at 559-4005. She is smart, conscientious, and very hardworking. You can count on her to get you a great deal and to make the process as smooth as possible. Betsy
I would like to recommend Glenn de Cicco (cell # 510-414-GLEN). He arranged our mortgage when we bought our house and is now helping us re-finance it. I have found I needed to nag other brokers to get estimates/responses from them, but Glenn has always answered promptly to our calls. Also, we shopped around with different lenders, and he defintely got us the best deal. Regards. EP
Hi. We just refinanced with Jim Park at Park Place Financial and I got his name off the Parents Network. He's nice, knowledgeable, and the refi was really quick - 4 weeks from start to finish. His number is 925-399-6315. He's in Pleasanton but we did everything by fax, fedex, phone and then at the end he sent the notary public out to our house. How easy is that?! Happy Refi Customer
Nov. 2002
We are refinancing our house after doing major renovations and additions and have been working with a mortgage broker who is very responsive and helpful (unlike our prior broker). However, he is asking for a commission/fee of 1% of the total loan, which is a good-sized chunk of cash. This seems high to me, but I'm having trouble finding comparisons. What is the usual fee for such services? Joe
I worked at a mortgage firm before my baby was born. Broker normally charges anywhere from 0.5-3%. But since the interest rate is quite low at this time, you may ask for no point no fee. Which means you don't have to pay for any commission or any other closing fees. You can always cancel your loan (before signing your loan doc) if you are not happy with the fees that you need to pay for. I am not sure how far are you in the process of getting this loan, but it will be wise if you can shop around more. Now is a perfect time to do a refinancing. If you have anymore questions, feel free to ask me. sam
Sept. 2002
Has anyone refinanced their mortgage in the recent month or two? Any recommendations on where to start--who has a good rate, low (or no) points, etc? What about taking out a home equity line of credit? Is it better to just take the cash out with the refinance, or do a separate home equity line of credit (especially if the remodeling won't be done right away)? How does that work? Any advice would be helpful. Thanks. Signed, Not Very Financially Savvy
For your refinancing needs and questions, I can recommend Denise Davis at Key Mortgage. Her email address is denise.davis at keymortgage.com and her phone number is 415/446-1879. She was excruciatingly patient with me to get me up to speed on the pluses/minuses of refinancing and when it makes sense to do so. I've had friends call her, who after Denise crunched the numbers, said it really didn't make sense for them to refinance at this time. So, that indicated to me, she's just not out for the sale. Please give her a call and tell her Patty sent you. Patty
I just recently got my 2nd Home Equity Line of Credit. This type of financing was a better fit for me than refinancing because it's like having money in a bank account. You only pay on what you use. For instance, if you get a HELOC for 70,000 but end up only using 30,000 or not using all of it right away that's what your payments are based on. The first time I went on line to LendingTree.com because every convential bank turned me down. I got offers from 3 different sources including Wells Fargo, and chose the one that I liked the best. There were no points, no hidden costs, no closing fees and an incredible 4.5 interest rate. When I wanted the 2nd HELOC I went directly to that bank online and got a response in a couple of minutes. The notary comes to you at your convenience 24-7 to sign the papers. It's incredibly easy and obviously I highly recommend it. If you have any other questions please ask. Rachel
If you are looking to lower your interest rate and/or want to consolidate other loans (that would include auto loans, education loans, credit card debts or any other debt that you have), it might be better to refinance and take out a line of credit. But if you are only looking at getting money to remodel, a line of credit might be the way to go. If you need more advice or help, feel free to call me, I am actually a loan agent! 510-334-5358
Dear Not Very Financially Savvy ;-) The place to start is to decide what type of loan you need. A home equity line is usually what's wanted for a remodeling project that will be paid for over an extended time, because you don't borrow (and make payments on) the money until you need it. But equity lines generally have variable interest rates and annual fees, so in some circumstances a plain fixed-rate mortgage refi which gives you cash out can be a better choice. If you want both remodeling money and a lower interest rate, you might do *both* - refinance your current mortgage with a lower-rate mortgage in just the amount of your current balance, plus get an equity line, from the same or a different lender. By closing both at the same time you could save some costs. You might want to meet with a mortgage broker or accountant for some help determining what's right for you.
Next, you have to shop for the best deal. One place to start is on the Internet. There are a lot of web sites that allow you to compare different loan packages and see what the prevailing rates are. Another place to start is with your current lender. If you're happy with them and you've been a good customer, they may be willing to refinance and/or set up an equity line for you with very minimal costs (because they don't need to extensively re-underwrite you or your house). And yet another option is to meet with an in-person mortgage broker, who can offer you the best deal among many lenders. If you have any credit problems, a broker is usually the best choice because he or she can search out the best package you can qualify for - and generally, brokers' fees are paid by the lender, not the borrower, so it doesn't cost you anything extra. Good luck! Holly
I would like to recommend Russell Doi of First Residential Funding. He's on Solano Avenue in Berkeley, and his phone number is 526-6554. He's very knowledgable, but not a high pressure sales type. Kim
I've used the services of Sue Thomas at LaSalle Financial for the past several years. I guess I've had about transactions which involved purchasing or refinancing. I think that she and her staff are excellent. The phone number is 339-4300. Indigo
I can give a glowing recommendation to Jill Friedlander! She helped us get great loans on 100% financing (yes, we were desperate). We had been working with a different mortage broker before Jill and the other was awful -- very sales oriented, very cheesy, and ethically challenged (lied, ignored messages from us, and almost lost our chance at getting our house). We were wary of mortgage brokers after that experience and were plesantly surprised when Jill turned out to be friendly, helpful, and very professional. She works in Novato but don't let that bother you -- we moved from San Jose and she was very accomodating. Her contact information is (415) 506-0200 or JillLoans AT aol.com. Tell her Laurel and Jack sent you because I think she works on referrals mostly. laurel
We used Tom Nitsan of MPR financial 510-527-6146. I never actually met him but dealt with all business over the phone and by email. We found good rates with him and found him to be be responsive and professional. Good luck. Loraine
I can highly recommend Denise Davis at Key Mortgage. She has been very creative in finding the right loan to fit our lifestyle and repayment needs. Her email address is denise.davis AT keymortgage.com and her phone number is 415/446-1879. Tell her that Patty sent you. Good luck! Patty
Tom Nitsan is a great mortgage broker. He's with MPR Financial (apparently, they're all great in that office.) 510-527-6146. Refinancing is very very easy when Tom's on the case. I did a lot of research on my own and came up with nothing that could compare with what Tom was offering. We chose the no-cost mortgage, which was absolutely painless. Now our interest rate is 6.75% and we save about $150/month. Jodi
I highly recommend Tom Nitsan at MPR Financial... phone 510- 527-6146 or email tom at mprfinancial.com. We worked with him when we bought our house originally and he's helped us with 2 refinances. He's really great about providing different options (rates, costs, points) and explaining them. We've always found him helpful and really easy to work with. Kana
I worked with Ian Cartan of Western American Mortgage both for my initial house purchase and for my refinance. He is wonderful--thorough, knowledgeable, and proactive. He's also very personable. 510/339-4070, in Montclair. Jennie
Hi, you are welcome to call me at 510-558-3192 (home) or 510-334-5358 (cell). I work with a mortgage company called Tri-Bay Financial Group, it's located in the city and offers excellent service. You can visit their link at www.tri-bay.com. amymike8199 AT yahoo.com
My partner and I have refinanced several times in the past two years, and we highly recommend Jackie Muzio of Metro Mortgage. She has been efficient, forthright, and patient with our many questions. We have refinanced on a no-fee basis, getting a slightly higher rate, but bearing no cost for the transaction. Jackie can be reached at (707)527-6744 or metromortgage AT hotmail.com. Avi
I have the MOST FANTASTIC mortgage broker: He gets great rates on NO COST, NO FEE mortgages (and I mean REALLY no cost -- nothing!), he makes the paperwork super simple, he sends a notary to you if you need it so you don't need to EVER go into his office, AND he'll contact you every 90 days if rates go down so you can re-fi (again at no cost, no fee). He really has been fantastic -- after using another mortgage broker on my original purchase, I've used this guy to refinance twice now, and he's brought my rate down over 2 percentage points, very painlessly. His name is Jim Muglie at Preferred Financial. His number is (925)820-5557. If you use him, PLEASE give him my name and let him know that I referred you, as he keeps track of referrals, etc. Good luck! And feel free to contact me by email if you have any questions. Sharon
I have a WONDERFUL broker - Marsha Corbett Walker at CMG Mortgage. She helped us buy our first home and refinanced our second. We went with another broker for the purchase of our second home and were VERY sorry. Marsha will do backflips for you and she is very low-pressure. My mom considered refinancing and needed some questions answered. Marsha has been patiently answering questions for months and has never pressured my mom at all. I can't say enough good things about her! 800-881-5463 Her office is in Walnut Creek, but she does everything by mail, fax or phone as needed. Jaime
We have refinanced 3 times in the last 2 years with Sam Fishman of Fishman Financial on Solano Ave. and haven't paid a penny to refinance. Sam was our mortgage broker when we bought, and he was easy to work with then too. He can be very chatty which might bother some people, and he sometimes assumes that you know all the ins and outs, but we have always had a good experience overall. I think his style is very ''gentlemanly.'' In fact, HE CALLS US when interest rates go down enough to make it worth refinancing, with some line like ''it's time to rock and roll!'' With every refinance transaction, our monthly goes down about $100. I think the process is well worth it. Fishman Financial is 528-2255. Claire
Our mortgage broker, Jeffrey Arnold, we've used for over 7 years for 3 refinances and 3 mortgages. We've been very happy with his service, he's very knowledgeable about mortgages as well as general finance and investments issues, and has always found us incredible deals. He is based in Orinda but travels far and wide. His number is: 925 254 5569 e-mail: jeffreydarnold AT msn.com Naomi
July 2002
Can anyone recommend a place to get a home equity loan? Is there any advantage in going to the bank where I've had my accounts for 10+ years? My first mortgage is with the previous owners, so I've never gotten a commercial mortgage. I've been going on various websites but I'm a little overwhelmed by the range of possibilities so would like to hear some success stories or warnings of who to avoid. Melinda
I highly recommend Larry Martinez at Chase Manhattan. His phone number is 800-570-5701 ext. 213. He has helped us and other family members with a number of different types of loans. Chase's rates are competitive and the closing costs have been less than what we would have paid through a mortgage broker. Larry is very knowledgeable, reliable and responsive. We think he's great. If you happen to be an attorney, Chase also offers a State Bar discount on the interest rate. amy
To the subscriber looking for a home equity loan......... I would strongly recommend Behzad Zandi, sorry I can't remember the name of the mortgage brokerage he works for but his phone number is 415- 892 - 2006. I have refinanced my house three times with him in the last two years, at no cost to me because they build in a spread. However my rates have absolutely been comparable to, and hve tracked, the market as interest rates have fallen. He also facilitated my home equity line........ Margo Kimball. mbkimball
Bayridge Realty helped me refinance my house and take out some equity. The loan process went quickly and smoothly. Steve Zager, the owner was super helpful, clear, nice and prompt. The office is in Berkeley at 1345 Martin Luther King Jr. Way, across from Fat Apples (tel. 524-3333).
We got our home equity loan through Lending Tree.com. They are supposed to contact different banks with your information and then the banks contact you and make an offer. Supposedly, because they know other banks want your business, you will get good offers, but we were only contacted by one bank, but our interest rate is pretty good, so it's OK. Toby
We got our home equity line through our regional bank Mt. Diablo Bank (Danville branch). They may have a branch in Orinda. In December, the rate was prime rate + 0%. An exceptional rate as the prime rate went down to 4.50% right after we signed (and has stayed there). Of course you're always at risk of the prime rate moving up. No prepayment penalty. Don't know if they still offer this rate, but I learned it's well worth looking regionally, as the big banks couldn't come close. We also got a number of other great contacts from the local bank, such as a contractor for our remodel who has turned out to be exceptional. ndaetz
March 2002
Would anyone recommend a mortgage broker to help us refinance? Someone ethical, smart, well-informed and organized, and preferably in the Berkeley area. Melanie
We were really pleased with Lauren Dunlap, who is a mortgage broker with Nova, 540-7911. She works in Berkeley. My neighbor recommended her to us; she took care of our paperwork promptly (came over on a Sunday!); gave us all the information we needed; kept us informed; great service-we couldn't have been happier. Kathy
We've worked with a mortgage broker in Alameda a couple of times (for initial purchases and recently refinance). Several friends have also used him and been very happy. Gets great rates, very good at helping get your application approved in a reasonable period and handles all the details. His name is Richard Pavao, and his company is California Real Estate Finance, which you should be able to get from information, since I'm not sure where I've put his number. Vali
This is recommend Sam Fishman (528-2255) as a mortgage broker. He takes the time to look at your needs, to evaluate the options, and to offer you choices on finding a mortgage to fit your pocketbook. His office staff is responsive, efficient, and nice to work with. His office is on Solano, across from Safeway. Merry
I just refinanced and consolidated my mortgages (1st+2nd) with E-loan with an excellent rate, no points and low cost. The process was fast, smooth, pleasurable, not to mention the United Miles that come along with it. All exchanges were by phone/e-mail and the notary came to my office for the signatures. Perhaps it was easy because I am an ''easy loan'' (high credit scores and loan-to-value) and I happend to get a very personable service rep, but I would strongly recommend them.
I highly recommend the mortgage broker, Joseph Nichols, with Schnell Investments in Berkeley, 525,4050. He worked with us a long time through many house bids and always provided very sensible advice (when asked.) When we finally got into contract, he managed to help us close in less than 30 days, even during crazy refinancing times. My real estate agent said that Joseph was a miracle worker. Miracles or not, I found him to be very organized and ethical. Sherri
Fabulous mortgage broker in Albany: Karen Ward at RE Loan Mortgage (her business). She can be reached at 510-559-4004 or 4000 I've worked with her for years. She's very ethical, bright and fun to work with. Good luck. Wendy
November 2001
These low interest rates have started us thinking about buying a house, despite our very modest incomes. Can anyone recommend some type of financial planner who is knowledgeable about real estate (we'd be first time buyers) who could help us evaluate the pros and cons of buying, and help us find out about financing options? It might be nice if this person could also do future taxes (we've always done our own) and could help evaluate a potential purchase with tax implications in mind. The financial planner recommendations on the web don't mention anyone with expertise in real estate. Berkeley/Oakland is preferable, but a good match is more important than location.
Karen Ward is a mortgage broker in Albany who is very service oriented and knowledgable about tax implications etc. of purchasing - especially the first home. You can reach her at 510-559-4000 Good Luck, Sharon
September 2001
Can anyone recommend a place that will refinance a second mortgage only? Lots of brokers want to combine the first and second to refinance, but we don't want to touch our first mortgage. Any recommendations would be appreciated. Thanks. Patty
Call Joe Acker from Partners Mortgage in Montclair at 339-4450. He will be happy to talk to you and propose some options. He has been very helpful with re-financing our first mortgage, getting us a second (separate from our first) mortgage and we are now looking to refinance the second mortgage only. He has excellent relationphips with many lenders and has so far always gotten us an excellent deal. Jana
1999
For the person looking for a financial broker contact Fishmen Financial Services on Solano Avenue, Berkeley. The owner Sam Fishmen provides excellent customer service. C
I highly recommend Jon Riccardi at MPR Financial located at 1320 Solano Avenue in Albany. The phone # is 510-527-6146. We used a mortgage broker 6 years ago with our first house and swore we'd never use one again after all the shenanigans that got played on us. We financed our second home directly through a bank. In January we wanted to refinance and got quotes from all the banks which I felt were too high. Jon came highly recommended from our financial planner so we went back on our promise and used him. I couldn't have been happier. His business makes its money on volume not junk fees and broker fees. Up front he tells you what the costs will be and that's what they are when you go to sign the papers.Kathy
Nov 1998
i recently refinanced my house through Partners Mortgage in Pleasanton (Julie) I had a first time home buyers loan initially and you weren't able to refinance until now and it was a little complex, but they were fast, knowledgable and helpful Andrea
We used Holmgren and Associates for the purchase of our first house and the refinance of the house recently. Our broker is Zach Griffin who has been quite good. He got us a cheap refinance with no points and fees and reappraised our house so that we got rid of the PMI (mortgage insurance). Their phone is 339-2121. My mother in law, who is a real estate agent recommended them, and she's seen lots of mortgage brokers. Myriam
I recommend Joe Nichols with Schnell Investment Co., 1517 5th St., Berkeley, 525-4050. He has worked with us on two refinances and secured the loan for our current home. Our financial situation was unusual and complicated and Joe proved to be resourceful and persistent. We have benefited from his sound, balanced advice on several related matters. He is very pleasant to deal with, as is the receptionist in the office. Rachel
The man who earned every penny: Joseph Nichols of Schnell Investment Co. 525-4050 (5th St. in Berkeley. I'm pretty sure that's their current number.) Also I've heard very good things about Fishman Financial Group on Solano. Leah
My tenant-in-common/downstairs-neighbor and I were very pleased with Schnell Investment Co. on Shattuck Ave. in Berkeley, both for our initial purchase eleven years ago and a refinance about 5 years ago. And we were not exactly a standard situation: we were two single women buying a duplex, where she had 75% of the down payment and I had about 60% of the income. I think it was Joseph Schnell we worked with most.
Does mortgage lender need to be local?
Sept 2008My Berkeley realtor is telling me that if I don't use one of her approved local brokers that I might jeopardize my ability to offer a competitive bid on a house--either the seller's agent won't trust my lender, or an out of town loan agent might pose a slower close b/c s/he may have questions re the appraisal. I've talked to 2 mortgage brokers in Berkeley, and 1 loan agent for Countrywide in Napa (referred to me by my banker--who's not w/ BofA). The Countrywide loan agent is offering the best mortgage loan of the 3. Is my realtor right in saying that she doesn't trust Countrywide, and if the loan agent is not from Berkeley that my bid might not be accepted or that closing might be delayed? mortgage seeking mom
Hi - We got the same advice when we were in the market but that was 3 years ago when times were different! Remember this is about having a pre-approval letter, not about the actual mortgage. Get a pre-approval letter from one of her ''approved lenders'' but get one from your preferred vendor as well. When you find a house, give them both but remember, once the offer is accepted, you can get financing from any legitimate source you want! Best of luck, fellow home buyer
This statement... ''if I don't use one of her approved local brokers that I might jeopardize my ability to offer a competitive bid on a house'' ...is wrong.
Did you possibly misunderstand her? In other words, does your agent work better with her recommended loan brokers (don't know what she means by ''approved'') or does her experience with them show her that they can deliver?
What she might mean is that you won't be competitive with a buer who knows that they can actually get a loan - one who has been approved for an amount, and with an agent who can deliver the loan by the close date.
Also, when you say that Countrywide is offering the best loan, there are so many factors in a loan. Are you comparing apples to apples? Has each of the agents qualified you and given you quotes on loans you can get? We're in a credit crunch right now.
Personally, I would not go with Countrywide. I would choose a good loan broker bc that person has access to many more sources than Countrywide and can give you a Countrywide loan. Here is a superb one: Liz Litaea liz.litaea [at] gmail.com 415-748-2626 (she's in East Bay and covers our area even though area code for her cell is 415) jessica
Wow. That sounds outrageous to me. Frankly, you'd be unwise to stick only to local folks when searching for a mortgage--too limiting. It strikes me as irresponsible for your real estate agent to discourage you from shopping around. We own 2 homes and searched all over online for the best rates. Neither mortgage was very local & no one cared. And we bought when there was a ton of competition. Frankly, I'd get a new real estate agent because I wouldn't trust that person. anon
Using a local lender for a pre approval letter can be very helpful if you are faced with a competitve bidding situation. I have over 15yrs of experience in the Berkeley housing market and have seen many offers be dismmissd due to an out of town pre approval letter. The real estate community here is small and in the past some out of town lenders have proven to be unreliable.
I should mention however that in no way should pay a higher rate to use a local lender. Your best bet is to get pre approved both locally and out of town and to use the local pre approval letter with your offer. Once your offer is accepted you can than choose to work with the lender you are most comfortable with. By no means are you obligated to use a lender due to a pre approval letter.
You should also not be paying any fees for pre approval so getting pre approved in both places should not be a problem or cost you anything. Tom
No your mortgage lender does not have to be local, and no Country wide does not take longer than other lenders. I had them, and always found them good. But I am not sure how good their reputation is.
Are you sure you want to keep your Realtor? She sounds like she's high pressure. You are the buyer, this is your market. There are a lot of great realtors in this area, make sure you are happy with yours. Good luck
I am a mortgage broker in Alameda, not Berkeley. You should be able to use whoever you want, someone you trust, who is giving you the best possible loan and rate. In a tight bidding situation though, you may be better off using someone the agents know who has a proven track record of successfully closing loans, as long as they are offering you a comparable deal. It's good that you are talking to more than one mortgage broker. Choose the one who seems the most honest and gives you enough information so that you know exactly what you are getting. Compare closing costs. Try to get the broker to submit your loan to the lender for a pre-approval and give you a copy of the pre-approval underwriting determination so that the listing agent can see that you have financing in place. You can have your agent recommend a local appraiser if using an out-of town loan broker. As for Countrywide, there has been a lot of negative press, so just make sure that what you are being told is the real deal. I'm sure there are many reputable people working at Countrywide, just be careful. Rick W
NOPE! with emails and fax, you don't have to have a local lender. you can even go with a strictly online company, though it is very nice to have the service of a broker you're in contact with. (i've done both ways.) your agent probably feels comfortable working with the person she knows. it's all about how responsive your lender's contact is with your agent and the escrow officer.
i'd assume seeing a better interest rate will make your offer more attractive - the backup offer on our house was the same price as ours, but we had the better financing and probably the lower interest rate because the seller's agent said there's no way we'd be able to get such a good rate and even allowed wiggle room for the rate.
as for countrywide, given the housing crisis right now, i don't know if it's any worse than just about any financial institutions. given that countrywide went through their blowup last year, hopefully they're managing better these days. good luck!! - lover of emails and fax
I think your agent is giving you incorrect information. I read a study that said using a broker actually cost $300 more than approaching the bank yourself. I bought a house in February -- started the process in November -- I called Wells Fargo-- the ''preferred'' lender for UC Berkeley -- supposedly. I gave all info over the phone while shopping at TJ's. Joshua Szarke Home Mortgage Consultant Wells Fargo Home Mortgage MAC X9902-027 2801 4th Ave South Minneapolis, MN 55467 800.525.3880 x75040 Toll-free 866.705.8590 Fax WF Employees: 800.777.9888 x75040 Relocating Clients: 800-452-9988 x75040 joshua.szarke [at] wellsfargo.com Anonymous
We bought a house this spring. Our offer was lower than the other offer but the listing agent recommended to the sellers that they take our offer since our pre-approval letter was from BofA. We had not planned on getting financing through them given their really high interest rates. So we refinanced with American Enterprise Bank of Florida one month after we closed with BofA.
BofA's service was miserable and we had to get an extension to release the finance contingency but their no closing cost loan made this tactic financially feasible. We went from a 8% ARM with BofA to 6.25% fixed with AEB.
I've heard a lot of real estate deals have fallen apart over the last year due to lenders changing the rules and not funding loans to people they had previously given pre-approval letters to. anon
We've bought a couple of houses and in both occasions the lender was someone who worked with the realtor. The second time we tried to use an out of town lender that we had previously used to refinance our first house, but we were highly discouraged from our realtor to do so. It seems that, administratively and legally, it is OK to do it, but realtors really prefer to work with their own lenders. My suggestion would be to show the rates you got with Countrywide to your realtor's lender and ask them to match them. EP
Surprisingly, bank of America gave us the best mortgage rate as compared to MPR Financial in Berkeley. And then BoA took it upon themselves to lower our rate at some point, most likely bc better rates were available and they didn’t want us to move our debt elsewhere. So check with your bank and compare. MPR said they couldn’t beat the rate BoA was offering.
Hi! Good question. I'm an agent in Oakland/Berkeley/El Cerrito/Richmond. In my opinion, things are reverting back to the highly competitive seller's market more and more every day that passes right now. But I think it all depends on what type of property you are trying to buy. Are you looking for the highly desirable fully updated 3bd/2ba 1400+ sf home? If so, I'm seeing multiple offers and therefore I would suggest using a local lender who can close in 14-17 days and who will fully pre-underwrite you prior to writing offers (which will help you feel more comfortable waiving loan contingency hopefully). If you're willing to purchase something a little less "turnkey" than you might still get to use a different type of lender, with the hopes that that lender can get you a better interest rate.
Someone I started working with during the softened market is Fred Grise' out of New Jersey (of all places!). He worked extra fast for my client. Fully pre-underwrites prior to writing offers. And has been able to quote lower rates.
Fred Grise'
Wells Fargo Home Mortgage | 200 Schulz Drive | Red Bank, NJ 07701
Tel 732-284-0658 | Cell 718-644-8664
fred [at] wellsfargo.com (fred[at]wellsfargo[dot]com) |https://www.fredgrise.com
Oh, also forgot to mention my go to local direct lending mortgage banker is JVM Lending. They've never let me down!
Yes, your offer will carry more credibility if you use an engaged, local, known-quantity mortgage professional. The national options you mention may not be able to provide a high level of service, nor will they know the local market, which could make it harder to get your offer accepted.
The mortgage industry has been changing a lot over the past several decades. Mortgage brokers and mortgage bankers used to be able to offer competitive rates. Mortgage brokers could access multiple lenders (banks and non-banks) to find the best terms for their clients. Mortgage bankers (non-banks) could offer competitive loans using their own funding sources; then they would sell the loans and repeat the process. Mortgage brokers/bankers who knew the local market could help you get your offer accepted, while offering competitive rates and good service.
However, this all started to change gradually after the financial meltdown of 2008, and now the big banks are your best option for lower rates, faster closing times, and jumbo (high balance) loans. All of the leading banks have closed their wholesale divisions, meaning mortgage brokers can no longer access them, so mortgage brokers have very few markets to go to now. The mortgage bankers either: (1) are not committed to jumbo (high balance) loans, a necessity in the S.F. Bay Area, or (2) have such high overhead that they can no longer compete on rates. The major banks are now committed to offering loans at competitive rates using their own in-house loan officers. A local loan officer at a big bank is probably your best bet since they will know the area and can offer good rates.
Note: I am not recommending any specific lender here, but rather, writing about my knowledge of the mortgage industry. If you search “biggest banks in America” you will find the top five or so direct lenders to consider. You could also consider credit unions, which will vary depending on their size and focus, and they usually require a membership.