Posts

17 Day JUMBO Financing – With No Contingencies & Super Low Rates!

I often blog about how jumbo rates are as much as 1% LOWER than conforming rates and explain why too. This recent blog is just one example. Our Jumbo Niche I obsess with jumbo financing not only because it offers astoundingly low rates, but also because it comprises as much as 75% of all financing […]Read More

Jumbo Loan Rates 3/4% LOWER In California and Texas

The Jumbo vs. Conforming Difference Widens! As of the date of this blog, December 13th, 2021, the rate for a $1 million jumbo loan at a 1/2 point cost is 2.5%. The rate, however, for an $800,000 “high balance conforming loan” at 1/2 point cost is 3.25% (3/4% HIGHER than the jumbo rate). These quotes are for […]Read More

Our Massive Jumbo Niche & How It Benefits You!

The median home value in many of our core markets is well in excess of $1 million! As a result – we were FORCED to become “Jumbo Financing Experts” because conforming (Fannie/Freddie) loans in coastal California are about as rare as California Condors. And – IT WAS PAINFUL! It was painful because every jumbo investor […]Read More

“Reserves” – Why & When They Are SO IMPORTANT!

WHY TWO NEARLY IDENTICAL BORROWERS GOT 1/2% DIFFERENT RATES We recently had two nearly identical borrowers get rate quotes that were 1/2% different on the same day they were quoted and here’s why: I often blog about The 13 Factors That Influence A Borrower’s Mortgage Rate. And the above two borrowers were nearly identical for […]Read More

Buying A Home For Your Child – Options?

WHAT IS THE BEST WAY TO BUY A HOME FOR YOUR CHILD? This is a question we see quite often so I thought I’d list the options. No Mas “FHA Kiddie Condo” Loans. This used to be a very flexible option where FHA allowed parents to put down only 3.5% in order to help kids […]Read More

10% Down Jumbo Options; 80/10/10s; Rates Hit All-Time Lows – Yawn

RATES HIGHER THAN IN JULY DESPITE “RECORD LOWS” Housing Wire was reporting that mortgage rates hit all-time lows again last week – and I yawned again last week. This is why. Until the mortgage industry comes to grips with its capacity issues, the actual mortgage rates that most lenders offer will not fall further. We […]Read More

Jumbo Financing Lives! Appraisals Getting Done; Bridge Loans; Interest Rate Update

JUMBO FINANCING STILL AVAILABLE Agents continue to ask us if we are still offering jumbo financing – and the answer is emphatically yes! Rates remain in the mid-3% range for strong borrowers with 20% down and ample reserves. Weaker borrowers (with less than 20% down, limited reserves and/or lower credit scores) in the jumbo price […]Read More

Jumbo Market Lives; Inflation = Windfall; Why Lenders Are Terrified of Forbearances

I am repeating this b/c I am still getting so many questions: The Jumbo Market Definitely Lives. Jumbo buyers with 20% down can buy up to $1.6 million in CA and up to $1.4 million in Texas with 1st/2nd Combo Financing. I recently blogged about combo financing here. Traditional jumbo lenders remain in the marketplace […]Read More

Jumbo Loans in California

Jumbo loans are becoming increasingly popular for California homebuyers. This is mostly due in part to the rising costs of homes in the state. The median price for a single-family home in the San Francisco Bay Area hit $1.7 million recently. As a result, increasingly more homebuyers in California are having to use jumbo loans […]Read More

17 Day Close – Conventional and FHA Only; Nobody Closing Jumbos “Fast”

We tout our “Super 17” or 17 Day Closings often, but we need to emphasize that this is only for Conventional and FHA Loans, and not for Jumbo Loans. Nobody is closing jumbo loans fast. This is really important b/c our borrowers and Realtors are often confused about this. All jumbo lenders and investors are […]Read More

Rates Up; $1.2MM Conforming or FHA Loan? Limits Are HIGHER for Units

Conforming and FHA Loan Limits are higher for multiple units. Many people forget this and assume they need to obtain harder to qualify for JUMBO financing for any loan over $625,500. This is not the case. 2014 Conforming and FHA High Balance Loan Limits for High Cost Counties (Bay Area): One Unit: $625,500 Two Units: […]Read More