I’m currently exploring mortgage options for a high-asset mortgage in California. Chase offered me a rate of 7.375%. Does anyone have recommendations for mortgage brokers or other institutions in California that can handle high-asset mortgages more competitively?
Charles Schwab offers great options for high-asset clients but you need to be a client to access these services.
Beckett said:
Charles Schwab offers great options for high-asset clients but you need to be a client to access these services.
Thanks, I’ll consider becoming a Schwab client to explore this.
Are your assets tied up in retirement or brokerage accounts?
Noel said:
Are your assets tied up in retirement or brokerage accounts?
Yes, they are in brokerage accounts.
Noel said:
Are your assets tied up in retirement or brokerage accounts?
Yes, they are in brokerage accounts.
Please provide details like the state, intended purchase price, and loan amount for more specific advice.
@Noel
I’m in California. Haven’t settled on a house yet, but looking in the mid-price range.
Check out the subreddit /r/MortgageBrokerRates for competitive rate quotes from brokers, along with daily updates and advice.
Oli said:
Check out the subreddit /r/MortgageBrokerRates for competitive rate quotes from brokers, along with daily updates and advice.
That sounds like a valuable resource. Thank you!
Schwab might allow you to use your assets as collateral for a mortgage. It’s worth checking into their specific services for high-net-worth clients.
Casey said:
Schwab might allow you to use your assets as collateral for a mortgage. It’s worth checking into their specific services for high-net-worth clients.
I will look into Schwab’s options for leveraging assets as collateral. Thanks for the tip.
It seems there’s some confusion about what you mean by ‘high assets’. Could you clarify whether you’re referring to using these assets directly to secure a mortgage?
Tavis said:
It seems there’s some confusion about what you mean by ‘high assets’. Could you clarify whether you’re referring to using these assets directly to secure a mortgage?
The ‘high assets’ term usually refers to qualifying for a mortgage based on substantial asset holdings rather than income. It’s a common approach for those with significant investments or retiree income sources.
@Kelly
Exactly, that’s what I’m referring to. Thanks for clarifying.
Are you specifically looking for an agency high-balance loan or something else like asset depletion loans?
Flint said:
Are you specifically looking for an agency high-balance loan or something else like asset depletion loans?
I’m looking for traditional Freddie Mac loans, not specifically high-balance or asset depletion, though I’m open to suggestions based on my asset situation.