CNC Mortgage Blog

By Carlos Gutierrez

This past weekend I visited mostly larger houses that would probably qualify for a jumbo loan. Those are loans that are over $417,000 and where the property would need to be worth more than $560,000. A couple of years ago there weren’t any loans available for this market.

Now several lenders are offering these loans at very attractive rates. The 30 year fixed jumbo loan is available at 5.125% while a 7/1 Jumbo ARM is quoted today at 3.75%.

Several of the realtors I spoke to were pleasantly surprised to hear that we can offer these loans as they were feeling hostage to some of their in house loan officers.