For the past several years, jumbo loans have been scarce to come by and what money was available was at much higher rates with more restrictive underwriting guidelines. Now, as money has loosed up a bit, we are seeing more and more competitive jumbo fixed rate product.
Currently, we can offer 80% jumbo fixed rates for up to $1.5 million. The rates are very competitive, barely over the high balance conforming rates. Underwriting is slightly more restrictive but far more reasonable than in the past. So, if you’re looking for properties over $1,000,000 and have 20% down, give us a call and we’ll explore your options.