When consulting with a mortgage specialist, they can help you take a closer look at the jumbo loan reforms and the associated options. According to a bank official interviewed for Andriotis’ article, lenders may use the reforms to increase rates on a 30-year, fixed-rate jumbos. This may lead some borrowers to consider an adjustable-rate mortgage (ARM) instead. Many factors are involved in these major decisions that is why it is always best to have an experienced consultant on your side.
In light of the CFPB reforms mandating lenders raise requirements for “nonqualified” jumbo borrowers on Sacramento home loans, a company like Iron Point Mortgage will have the flexibility to help you prequalify on a loan and set you up with the right lender.
http://ironpointmortgage.com/jumbo-home-loans-in-sacramento-bracing-hard-for-the-winds-of-change/
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