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Mortgage Brokers San Francisco Bay Area
Getting you the BEST RATES POSSIBLE
Jim Wilson, Broker / Principal
Preferred Mortgage, Inc.
Lots of companies offer loans, and each company has different loan types. If you go to the bank and ask for a quote they will only show you their products, but not their competitors. The first loan types they show you are also likely to make them the most money. Working with a mortgage broker for real estate in the San Francisco Bay Area means you have someone who knows your financial situation, and shops around for the best offers from multiple lending companies. We know what criteria banks are looking for and how to help you qualify for the best possible loans. We only make money by finding you a good deal.
Jim enjoys the challenge of finding the right loan products. He’s been helping people do this since 1999 when he founded Preferred Mortgage. If you’re dreaming of a new home Jim is driven to help you get the most value for your dollar and time. His extensive knowledge, diversity of loans, and personalized service make working with Jim a rewarding experience. Obtaining a loan with Jim’s help is also faster than going the direct lender route. He’s an expert at getting his clients pre-approved quickly and closing the loan in an expedient manner.
Rates are historically low right now and it’s a great time to shop rates. Here’s a sample of recent market rates. These change daily so ask Jim for today’s best possible rates. He enjoys finding the best deals.
Buying a home is likely the single largest investment you will ever make. There’s a lot involved and having a mortgage professional to walk you through can make it an enjoyable experience. Jim takes time to explain the buying process from beginning to end in a way that’s easy to understand. His goal is to keep things simple, and save you money in the process. The right home loan can save you thousands of dollars in the long run. Based on your finances and goals he’ll find the best loan for you and get you pre-qualified so you can start shopping.
If you have never purchased a home before then you are eligible for special incentives given by lending institutions and also the U.S. Government. Your financial situation is unique, and will allow you specific savings. Jim will help discover all the savings and benefits available to you. Since you’re a first time buyer the amount of savings is usually the highest. He’ll work hard to save you the most possible.
Jim has the resources to help with your investment financing. He can find financing or offer cash-out options for up to 10 investment properties. He has conventional financing with as little as 10% down on purchases via Homepath and 20% down on Fannie and Freddie programs. With residential rents at all time highs and interest rates still at extreme lows it’s a great time to own rental properties. Jim can present you with competitive options or get you prequalified for your next investment.
Talk to Jim, then you can decide for yourself. Our preferred lending status gets us access to some of the best home loan rates for the San Francisco Bay Area. Jim only makes money when he finds you a deal. There’s no obligation, no hassle, just good financial options. Jim is highly attentive, awarded for his service, and gets great reviews from his clients. Contact Jim about your goals and ask him to help you find the best possible rates. You’ll be glad you did.
We get asked lots of questions about mortgages, credit scores, and interest rates. Here’s some of the most frequent home loan questions that come up when talking about Bay Area real estate. We hope you find them helpful.
When applying for a loan lenders typically look at your credit score, assets, down payment amount, household income, and overall debt.
Prequalification is an estimate of how much you will be able to borrow. You supply the lender with some basic information about your income, debts and assets. The lender checks your information and gives you a general estimate of home loan amount and monthly payments. Prequalification only takes a few minutes and it’s free.
With preapproval, lenders review some basics about your finances and provide you with an official letter that states that as long as you meet certain conditions, you will be approved for a specific loan amount and loan program. That allows you to shop with confidence, as sellers often require a preapproval when you go to bid on a home. Learn more about the preapproval step in the loan process.
No. Often before shopping for a home, prospective homebuyers set a budget. Get prequalified or preapproved and we’ll help you determine how much of a monthly mortgage you can afford and how much you might be able to borrow.
It depends. Generally speaking, lenders require you to put down between 3.5% to 20% of the home’s value. See the side by side comparison of the mortgage programs.
Typically, if your loan amount is more than 80% of the home’s appraised value, you will be required to obtain private mortgage insurance known as PMI.
A second home is a home you use personally. The mortgage process for a second home is very similar to your primary home mortgage. An investment property is a property you rent out (become a landlord) or buy for the purpose of fixing up and selling at a higher value. This could be an apartment property, condominium, or single family residence.
Not necessarily. Even if you have had credit problems, you may still qualify for a loan. Your credit score is only one of the factors to qualify for a loan. Lenders also look at your employment history, income, debt, and cash reserves.
FHA loans allow homebuyers to use gift funds to help cover the cost of the down payment. In many cases, some or all of the down payment may be a gift from a family member, the borrower’s employer or labor union, or a charitable organization.
Jim was so helpful and accommodating. He answered all of our questions in a timely manner and made the process very seamless. We would definitely recommend Jim and Preferred Mortgage to others and look forward to working together in the future.
- Kasey & Adam
Preferred Mortgage, Inc.