I am a commercial broker and was just referred a loan that I cannot place. I would like to make this post to see if there is a lender that can assist with this?

This home is in Medina, Wa. Medina is a very wealthy suburb of Seattle, about 15 minutes away from the city. For background Bill Gates and Jeff Bezos both live in Medina which tells you about the wealth in the area. 

A Realtor friend of mine has a client that he has sold 2 past homes to. The client owns over 30 fast food franchises and is a high net worth individual. He would like to purchase an off market property in Medina for $9,900,000. He is looking to put 20% down. His bank will not finance a single family home for such a large amount so here we are. I have not spoke with the buyer yet but have exchanged emails and he states his credit is above 750. As you can imagine, he has millions in verifiable assets including $14,000,000 in real estate equity and $7,000,000 in liquid funds. This purchase will be owner occupied. Since his bank will not finance a home purchase of this amount, he has spoke two other local mortgage experts and is being quoted rates in the high 7's. Due to the size of the home loan he is about to obtain, interest rate is very important to him. Can any actual lenders do a trophy home loan like this for an interest rate below 7%? If you can, please reply. Since I am a broker myself I would prefer to go through a lender on this so I will not be responding to other brokers. We are all on the same team so surely it is understandable that I do not want to split this if I can get this client the rate he has requested which is simply to be at 7% or below. He will consider all loan options that are fixed for a minimum of 5 years although 30 year fixed is the preference. Client is Korean as am I so I will get this loan if I can provide a rate that works for him. Any lenders that can do this?

J Kim

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Mr. Kim,

My name is Alexander Williams. We live in the same town. I am in Bothell. I'm a broker and you are looking for a direct lender but I wanted you to know that if you do not find the right lender for this, I DO have a source that can make this loan happen. It is a lender I have closed loans with before and they have a program for luxury home funding up to $10M. Feel free to message me if you do not find the right lender. Sometimes half of something is better than all of nothing!

Alexander Williams

Hello Alexander.

Since you are the only one to respond, I may need to consider teaming up on this one. I know there are lenders here because I have been contacted by two of them since I joined last week but neither will do a home loan of this size and the fact that it will be owner occupied makes it tough. If I do not hear from anyone else, I will send you a message later this evening. I do not want to wait. This is a large loan and I have a leg up on the competition since the buyer and myself both speak Korean. 

Thank you for showing interest. You will likely hear from me later tonight.

J Kim

As a lender I am curious to see where this goes as the average 30 year rate right now is in the high 6's.

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Hello Mr. Kim:

Our firm has a preferred lender who can fund this loan quickly with an interest rate under 7%.

Please feel free to contact me for more details.

.....and our firm is paid by the lender so you do not have to split your fee with us.

Ended up having to co-broker. Thanks to Alexander Williams for using your license and connections to get us this loan. Rate of 7.25% as of today, which the buyer just accepted. Thanks to all that replied and sent me messages. All parties happy with this one.

J Kim


Alex Williams is a great Loan Officer with an amazing resume. You are in good hands working with him. Very impressive that he could get you this rate in less than 24 hours on an owner occ jumbo loan. Today's conforming 30 year fixed is 6.45% so him getting your client 7.25% is very nice on such a large loan.

Back about 20 years ago I lived in the Seattle area, in Kirkland, and I can say that Medina truly is the wealthiest town in this country. A few friends and I once took a boat around Lake Washington and checked out Bill Gate's Medina home, where he actually lives. It was pretty wild because at that time you could see maybe 5000 sq. feet above ground and the rest of the house, including the entire living space, was below ground. Pretty crazy property on the most expensive land in America. They say his home is now worth $250-$300 million. Congratulations on this loan Jimin. Alex will not disappoint you.

Monty (owner of this site)


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