Tag Archive for: jumbo

Mortgage Banks Are Reclaiming Jumbo from Commercial Banks: Why?

Not ONE of the millennials who run JVM Lending was in the mortgage industry prior to the 2008 meltdown. In their minds, it was just some ancient event like the iPhone invention, the French Revolution, the fall of Rome, or when that asteroid thingy killed all the dinosaurs. In any case, I often regale them with stories about how, back in the day, mortgage banks and brokers could almost always beat the big commercial banks with jumbo rates.Read More

5% Down Jumbo Financing; 10% Down Jumbo; Inflation Up

Here is something that really surprised me… We have seen a tremendous upswing in the number of buyers asking about low-down-payment (5% to 10%) JUMBO financing. It is so surprising […]Read More

Mortgages After Bankruptcies – Easy to Get! Jobs Report Nonsense Again

Mortgage rates shot through the roof this morning in response to a very strong jobs report! This is exactly what I predicted would happen in my blog yesterday, as the official BLS jobs reports always come out stronger than expected - particularly in January - before getting revised downward in later months.Read More

2024 Loan Limits For Texas Homebuyers

The 2024 loan limits in Texas present a diverse landscape for homebuyers and investors. With higher loan limits set by Fannie Mae and Freddie Mac and the absence of loan limits for VA loans, the Texas real estate market offers a range of opportunities. Whether you're considering a primary residence or an investment property, these changes in loan limits are critical for informed decision-making.Read More

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

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

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

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

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?

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!

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?

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

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…

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!

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