Getting a jumbo loan in Hillsborough, CA has become more difficult in 2009. According to this website, there are currently 83 homes for sale on July 30, 2009. This number is higher than normal, and does not include homes that are not on the multiple listing service. There ary many sales in Hillsborough that never are recorded on the MLS. One of the reasons that so many homes are on the market is because of the lack of jumbo financing in recent months.
There have been some developments recently that make getting a jumbo loan in Hillsborough, CA easier than it has been in a while.
Some lenders have come back into the jumbo loan market. For example, one lender is offering jumbo loans for up to $5 million. The price range of homes currently on the market is between $1,350,000 to $18 million. Having loan amounts up to $5 million won't help everyone, but it should help most.
Another development is the ability to fix the rate on an adjustable loan without refinancing and without having to provide income documentation. If you have an adjustable jumbo loan in Hillsborough, CA, you should read this article about how it works.
The super jumbo loan market, which has been frozen, is thawing. I expect more lenders to get back in the market for higher-end loans, which should make obtaining a jumbo loan in Hillsborough, CA easier than it has been for a long time.
Do you need help with or a question about a mortgage? Call or text me at (650) 222-0386, or e-mail me.
Guarantee Mortgage is a division of American Pacific Mortgage Corp. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, and the California Bureau of Real Estate. American Pacific Mortgage Corporation NMLS #1850, CAL-BRE #01215943. Single Family, Multi-Family and Commercial Loans. Equal Housing Opportunity. Equal Housing Lender.