Anonymous
Post 03/12/2014 13:09     Subject: Jumbo Loans
PP again. Those were 30yr fixed rates.
Anonymous
Post 03/12/2014 13:08     Subject: Jumbo Loans
I recently got quotes of 4.25% and 4.5% from two different lenders for a jumbo loan with 20% down. I also see several others offered in the same range. Good sources are Bankrate and MortgageProfessor.

FWIW, one lender checked for me the rate difference between jumbo and conforming loans in my ballpark, and reported back that the rates were identical.
Anonymous
Post 03/12/2014 11:42     Subject: Re:Jumbo Loans
PPs, with jumbo loans - do you mind posting your rate? and whether fixed or adjustable?

It's not easy to find this information on non-conforming loans. thanks, not the OP but interested in this

If PP with 10% down and 900K loan from Penfed is willing to post PITI, would greatly appreciate that
Anonymous
Post 03/12/2014 11:25     Subject: Jumbo Loans
10% down we have a 900k loan from Penfed. No issue.
Anonymous
Post 02/28/2014 07:54     Subject: Re:Jumbo Loans
Yes, we have a 1 mil loan from TD bank.
Anonymous
Post 02/26/2014 18:02     Subject: Jumbo Loans
Yes. HSBC.
Anonymous
Post 02/26/2014 18:00     Subject: Re:Jumbo Loans
Anonymous wrote:$625 is a limit for a conforming loan that the bank can sell to Fannie/Freddie. On the other hand, lots of banks will loan from their own balance sheets and the amounts can be any amount the bank chooses. If you're new homebuyer and have limited assets and income, you'll probably have to stick with the conforming loans (i.e, the $625 & under loans). If you've got assets and income to support it, I know that SunTrust is fairly aggressive in underwriting loans for their own balance sheet, so the limits can be much higher.


Thank you...that make sense now.
Anonymous
Post 02/26/2014 16:42     Subject: Re:Jumbo Loans
$625 is a limit for a conforming loan that the bank can sell to Fannie/Freddie. On the other hand, lots of banks will loan from their own balance sheets and the amounts can be any amount the bank chooses. If you're new homebuyer and have limited assets and income, you'll probably have to stick with the conforming loans (i.e, the $625 & under loans). If you've got assets and income to support it, I know that SunTrust is fairly aggressive in underwriting loans for their own balance sheet, so the limits can be much higher.
Anonymous
Post 02/26/2014 16:30     Subject: Jumbo Loans
I guess I was confused by the whole $625 limit. It seems you have to get more than one loan...from what I have read. Does anyone have any more information on this. I figure you could get a loan for a small business for more than that...but...from investment groups/angels. Every bank says $625 is the limit...even the person above said they needed two loans.
Anonymous
Post 02/25/2014 18:59     Subject: Re:Jumbo Loans
Is this a real question? One could get a $5mm loan if he/she was a good credit.

I've got well over a million in loans (not a fact to boast about) but could be approved for more as long as my income and assets are sufficient to convince the bank they'll a) get paid back with interest or b) could wring me out and sell my collateralized assets if I default.
Anonymous
Post 02/25/2014 18:06     Subject: Re:Jumbo Loans
We put 20% down
Anonymous
Post 02/25/2014 17:20     Subject: Jumbo Loans
Thanks...Did you put 10% or 20% down?
Anonymous
Post 02/25/2014 17:13     Subject: Re:Jumbo Loans
Yes, we received a 900k loan which we broke up into two loans 18 months ago to reduce interest rates further. When interest rates were dropping I refied on a regular basis so I can't remember who we used for the jumbo loans. I believe Cardinal had the loan at one point.
Anonymous
Post 02/25/2014 16:56     Subject: Jumbo Loans
Anyone?
Anonymous
Post 02/25/2014 16:47     Subject: Jumbo Loans
Is it really possible to get a $700K loan? Do you know anyone that has? Have you? If you have...who was the bank that approved it?