For home buyers, 2012 was the year of the jumbo, jumbo mortgage.
Private jumbo loans start after $417,000 in most parts of the country—or exceed $625,500 in pricey metro areas like New York and San Francisco. But lenders say they've been doling out loans that far exceed these amounts.
Overall, lenders distributed $148 billion of private jumbos over the first nine months of the year, up 23.3% from the same period a year ago, according to data compiled by Inside Mortgage Finance, a trade publication. Originations for the year are on pace to be the highest since 2007.
Here at HomeQuest Mortgage offer a full portfolio of loan programs with loan amounts up to $3,000,000. Call us direct at 949-460-7799 and ask to speak with Tom Drasler.
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