JUMBO MORTGAGES

Over the last few years, the jumbo mortgage market has improved.  Not only has qualifying for a jumbo loan become easier, both the jumbo mortgage fixed and arm rates have improved.   Click here for our most current mortgage rates.

2018 CONFORMING LOAN LIMIT:  In 2018, the conventional mortgage loan limit was raised to $453,100.   This was a large increase from the 2017 limit of $424,100.  Now you can borrow up to $453,100 and stay at standard conventional mortgage rates and underwriting guidelines

WHAT THIS MEANS TO YOU:  Now is the time to review your current jumbo loan to see if any of the following qualify:

  1. Convert Your current Jumbo ARM loan to a Fixed Rate Mortgage - The jumbo fixed rate mortgage rates are at all-time lows.  With 2017 increases in the Prime Rate, 1-Year Treasury Rate, and 1-Year LIBOR Rates, chances are your ARM interest rate will increase (and your monthly payment too).  NOW is the time lock in a low fixed jumbo rate.
  2. Reduce your current jumbo loan interest rate - If you took out a fixed rate jumbo mortgage in the last few years, chances are the current rates are better.
  3. Convert your jumbo loan to a conventional mortgage - with the increase of the conventional loan limit to $453,100, you may be able to convert your remaining jumbo mortgage balance to a lower conventional fixed rate.
  4. "Re-ARM" your current Jumbo Mortgage balance - If your current jumbo mortgage is an ARM loan that is no longer in it's initial fixed rate period, why not take a look at another jumbo ARM to lock in a fixed rate for 5, 7 or 10 years?