WOW….JUMBO LOAN HAVE BEEN SIGHTED

Mar 23rd 2009

Related Posts: Real Estate News

hi

The hard-to-find jumbo loan may be making a comeback. Bank of America is among the major banks rolling out jumbo mortgage programs and holding the loans in their own portfolios. It will offer loans from $730,000 to $1.5 million with 30-year fixed rates under 6 percent; but borrowers must make a 20-percent downpayment, have good credit, provide proof of income, and hold six months of principal, interest, property tax and insurance payments in reserve. Other banks offering jumbo loans include ING Group’s ING Direct unit and Luxury Loans of San Diego.

Source: Chicago Daily Herald, Ken Harney (03/20/09)
© Copyright 2009 INFORMATION, INC. Bethesda, MD (301) 215-4688

This entry was posted on Monday, March 23rd, 2009 at 11:50 am and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. John Edwards said at October 10th, 2009 at 8:18 am

    I really hope the news gets better! the job market is tough but the sky is not falling.

Leave a Reply