Wednesday, April 21, 2010 - Article by: Rob McAllister - West Seattle Mortgage, Inc. 85705 -
Some good signs in the market that investors may be coming back to the table. More and more lenders are offering good loan terms to Jumbo loan customers. Jumbo loans are loan amounts that exceed the conforming loan limits and typically cover home loans up to 2 million dollars. For the past few years the Jumbo market has been pretty vacant. As the housing market collapse began investors who purchase Jumbo mortgage loans found other places for their money. Now as the market begins to improve, and signs that housing is stabalizing, those investors are coming back to the market. So if you have a loan over conforming loan limits, have excellent credit, and at least 20% equity you may be happy to see some good rates available for you. Not everyone has a jumbo loan or needs one, but this is good news for the entire housing industry as its a sign things are improving...which is a good thing to see.
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