This is the last post in a five part series of Mortgage Myths vs. Facts put together for us by Huck Ferrill, mortgage consultant. If you are considering buying a home today's market offers you some excellent options. And here's the last one.
MYTH: "I can't find any jumbo financing without paying about 8% in rate."
FACT: We offer financing up to $5,000,000 on 3, 5, 7, and 10 year fixed product, 30 year amortized or a 40 year with interest only payments for the fixed period, at rates in the 6s. For example a 70% LTV $2,000,000 purchase loan utlizing a 5 year fixed product would be offered for 6.5% with one point origination fee (6.75% APR).
I hope this series has been helpful to those of you who would like to buy a home but are concerned about financing it. As always, if you have any questions about financing, this series or any other real estate related question, drop me a line. Don't listen to the hype. Get the facts.
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