High-End Home Loans Stage a Comeback: Jumbo loans are reportedly becoming easier to obtain, which may be welcome news for high-end home buyers.
Jumbo loans are mortgages larger than $417,000 in most parts of the nation and $625,000 in high-cost areas.
In the first quarter of 2013, lenders originated $54 billion in jumbo loans, up from $47 billion one year earlier, according to Inside Mortgage Finance.
Many jumbo lenders also reportedly are increasing the amount of a home’s value they will agree to finance. Skyrocketing Fixed Mortgage Rates “Mortgage rates posted the biggest one week increase since the 2008"
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