Jumbo Residential Mortgages are Getting Better…Finally.
I’ve done quite a few Jumbo Residential Mortgages this year, and have been pretty limited on the programs that have been available. Even with the increase in Jumbo limits from $417,000 to $567,500 (in Washington State), lenders have been very reluctant to improve pricing on anything over the old limit.
But, it looks like things are changing, I’ve seen several lender rate sheets that now ‘honor’ the new limits set by the federal government on these deals, including great rates on 30 Year Fixed loans as well as a variety of ARM’s.
If you have a loan that is larger that the old limit of $417,000, or are considering a cash-out refinance over the old limit, now is a good time to start looking.
