Buy that Daytona Beach Waterfront Home with a Jumbo Loan
The jumbo loan market is starting to loosen, making it easier for move-up buyers to borrow.
Rates on jumbo loans of more than $729,750 in highest-priced markets rose during the financial crisis and lending standards tightened to the point where borrowers couldn’t refinance or get a new loan.
In the last couple of weeks, the average interest rate on a 30-year fixed-rate jumbo fell to 5.79 percent, a five-year low, according to rate tracker Informa Research Services. Rates are even lower on hybrid adjustables.
The availability of these loans suggests that banks are feeling more confident since Fannie Mae, Freddie Mac, and the Federal Housing Administration do not insure them.
If you are in the price range and market for a waterfront home in Ormond Beach, Flagler Beach, Ponce Inlet, or Daytona Beach, you can take advantage of the low prices now on these riverfront or oceanfront properties for sale with a jumbo loan. Contact me for referrals to loan officers and to look at homes for sale.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
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