If your clients, family members, friends, or anyone
for that matter is thinking about moving up, now is the time!
Read the attached article to find out why!
About 60 days ago, I sent out newsworthy information about
the price of Jumbo loans falling. Historically, jumbo loans have always
exceeded the cost of conforming loans (conforming in our marketplace as you
know, are loans under 417K). In 2007 the spread was as much as a full 2%
difference on a 30 year mortgage. So if a conforming loan was at 5% then,
the jumbo borrower would have paid apx. 7%. As of the end of June, 2013,
the Mortgage Bankers’ Association pegged the spread at only .02% difference and
as of today, this article says that Jumbos are now running .02% less
expensive than conforming loans. Mortgage bankers who have been in
the business for 30 years or more have never seen nor did they expect
this. To Sweeten the pie, many of the lenders are only requiring 10 to
20% down. Never has there been such a great time to get a jumbo loan.
Please do 3 quick things:
Read the article
Pass it along to everyone you can think of – time for your
past buyers to “Move it on up!”
Have these same people talk to your favorite loan officer at
Royal Charter Mortgage
Go get ‘em!
No comments:
Post a Comment