Why the Jumbo Loan Market is Finally Thawing

Hot news from AZ Home Help:

Posted To: MND NewsWire

Current housing recovery chatter centers around two main themes: slightly improving stats on home sales, prices and foreclosures low rates vs. tight credit Let me bring you into the trenches on theme two because it feeds theme one. Most mentions of “tight credit” are broad macro assertions but the press rarely details loan guidelines consumers face on the ground. So let’s look at how loan guidelines impact credit availability in the jumbo loan market. That is, the market for loans above the Fannie/Freddie caps of $417,000 to $625,500 (depending on region). On one jumbo loan I just made, we were verifying unsourced deposit line items on a borrower’s bank statement—standard procedure for unsourced deposits over $1000. This self-employed borrower’s bank statement...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

- For more real estate news visit our website at http://www.AzHomeHelp.com