Jumbo loans opening up

Even Fannie and Freddie have their limits. Who knew. But that could be a good thing for folks looking for jumbo mortgages — and, of course, the Realtors working with them.

From Saturday’s Washington Post, “A Big Boost for Buyers Seeking Jumbo Loans“:

New money is about to flow into a part of the real estate market that has been squeezed hard by the credit crisis: mortgages too large to be purchased or backed by Fannie Mae, Freddie Mac or the Federal Housing Administration.

[snip]

Bank of America, the country’s largest mortgage lender, is rolling out a large program to finance jumbo loans between roughly $730,000 and $1.5 million, with fixed 30-year rates starting in the upper 5 percent range.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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