Jumbo Loans Austin
Jumbo Mortgage Purchase example of what kind of rate a client is looking at this week. The sales price is 725K and the client wishes to make a 10% down payment. His credit scores are great over 740 and he wants to get an adjustable 5 year ARM. The current rate is 6.0%. This rate is almost comparable to that of conventional mortgage. Many banks don’t even offer such a program and most mortgage brokers run from them. This is from a direct, fast and secure wholesale mortgage lender who offers lower interest rates and closing costs than a retail bank. This mortgage does however come with mortgage insurance, but the alternate is making an additional of $36,250 for a mortgage at 85% LTV without mortgage insurance. With today’s environment as it as, keeping your assets close is becoming more common.