BANKING AND CREDIT NEWS-June 15, 2017-Stearns Lending introduces jumbo loan
program for million-dollar homes
For borrowers seeking a 30-year fixed jumbo loan
that exceeds the conforming loan limits, the APR average is lower, at 3.
This study then examines the measure of income falsification around the jumbo loan
Homebuyers looking to obtain a larger loan will have to apply for a jumbo loan
, which will most likely come with a higher down payment.
We started noting that the banks started dropping their jumbo loan
rates from, say, half a percent over their conventional loan rates down to their loan conventional rates or even a little below," Gray said.
PennyMac plans to tap the interest of investors in the jumbo loan
And the very few who will take a jumbo loan
look for any reason not to take it, Sims said.
in Manchester, jumbo loan
rates have historically remained between three-quarters and one full percentage point above rates on conforming loans.
This limit can put many buyers into a position of getting a jumbo loan
, which typically boost the interest rate by a quarter to a half point.
Anyone who can afford a Jumbo loan
is qualified by any financial institution.
rates fall below 6 percent [Business Week]