white-house-pool Fannie Mae and Freddie Mac now have serious competition for “high balance” loan amounts above $453,100.

    For years, few Jumbo lenders could match Fannie’s and Freddie’s “conforming” loan rates. (As a reminder, a “conforming loan” is a loan that conforms to or meets all of Fannie and Freddie’s guidelines).

    But, many jumbo investors now offer rates that are 1/4 percent LOWER than conforming (Fannie/Freddie) rates for loan amounts above $453,100.

    For Adjustable Rate Mortgages (ARMs), the jumbo advantage is often even greater.


    The only caveat is that jumbo investors have much more stringent qualification guidelines.

    But, for strong borrowers, there is no reason to obtain a conforming loan anymore.


    B/c so many of our borrowers qualify for jumbo financing and b/c so many are buying in higher-end markets, we are changing our daily rate quote criteria.

    To reflect the best possible rate, our daily rate quote now assumes an $800,000 purchase; a 25% down payment; a $600,000 loan amount and a 780 Credit Score.

    Jay Voorhees
    Founder/Broker | JVM Lending
    (925) 855-4491 | DRE# 01524255, NMLS# 335646

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