Tag Archive for: jumbo

Commercial Banks Pulling Out Of Jumbo Market; Why & What It Means

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Commercial banks are pulling out of the jumbo market rather suddenly – after dominating it for the last year or so. The question is why and what does it mean? […]Read More

Jumbo Loan vs Second Mortgage

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There are a few differences between a jumbo loan and a second mortgage. Understanding these loans can help you decide which is right for you.Read More

What To Know About Jumbo Construction Loans

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Future homebuyers may not realize they can build their own home without paying for construction out-of-pocket. Many lenders offer construction loans, which finance construction costs and allow homeowners to design their dream home without breaking the bank.Read More

Cash Reserves After Closing – How Important Are They? Inflation…Or Not

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Four of our borrowers starved to death shortly after moving into their homes last year. This is because our poor borrowers had no money to buy food because most loan […]Read More

What Is 5% Down Jumbo Loan Financing?

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5% down jumbo loan financing refers to mortgage loan amounts over the conventional loan limit set by the Federal Housing Finance Agency (FHFA). There are a few main features of 5% down jumbo loan financing that create more stringent guidelines. These main features are credit scores, debt ratios, housing history, reserve funds, and down payment amount.Read More

Eliminating PMI – With Appreciation, Paying Down Loan, or Refinancing!

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A client who bought in 2019 emailed me this week, asking how to get out of PMI. Because appreciation has been so massive over the last few years, there is no reason anyone should have kept their PMI in place for more than two years.Read More

What Is A Jumbo Loan In Texas?

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Jumbo loans are mostly used by those purchasing higher-end or “luxury” properties. By design, conforming loan limits are usually set higher than the median home price within a particular county. In theory, this gives homebuyers plenty of properties to choose from without the need for a jumbo loan.Read More

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

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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 […]Read More

How Monkeys Close Loans in 10 Days; Purchases? Not So Much…

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30-MINUTE LOANS Closing a conforming (Fannie/Freddie) refinance for a W2’d employee with good credit can take less than 30 minutes of effort on the part of a lender. This is […]Read More

Our Massive Jumbo Niche & How It Benefits You!

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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 […]Read More

Using PMI To WAIVE Appraisal Contingencies

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Many homebuyers do not realize that PMI can be an option for those who might want to make offers with no appraisal contingencies. This, of course, is a great idea, […]Read More

Jumbo Lending Explained – How We Target Jumbo “Investors” For Every Borrower

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We had an appraisal come in low last week, and the agents seemed to believe that our choice of “jumbo investor” (PenFed) had something to do with the low appraisal […]Read More

Buying A Home For Your Child – Options?

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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 […]Read More

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

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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 […]Read More