JUMBO RELIEF
It looks as though Fannie and Freddie have decided to lower the rates on those “jumbo” conforming loans.
Remember that Fannie and Freddie increased conforming loan limits–in certain geographic areas–so that borrowers with larger loans could benefit from lower, conforming interest rates and, to some extent, conforming loan underwriting qualifications.
However when these jumbos came out the interest rates weren’t so favorable. Lower than most “true” jumbo loans, but still relatively higher than conforming loans.
The key is to make sure that your property is located in an area where these jumbo conforming loans are allowed.
RSS Feed
Leave a Reply