Jumbo Lending Showing Signs of a Bit of a Thaw


Filed under: Market Comentary


I have a bit of good news. In recent weeks, lending has been shrinking due to the pandemic and economic changes that have been happening. But things are starting to shift again, which is good news in the mortgage industry.

Jumbo Loan Options are Opening Up

This week I took a closer look at jumbo loans and found that options are opening up. The amounts vary, depending on the county where you are buying the home. For example, conventional lending goes to $510,400 throughout the US. Any amount over that becomes a jumbo loan.

In many high cost areas throughout the country, the conventional lending amount is higher. In our area, jumbo loans are common because of the high real estate prices here. In LA County, Orange County, San Diego County – the thresholds for conventional vs. jumbo loans are higher amounts than the national limit.

Great Pricing on Loans Right Now

When Coronavirus broke out, many of the lenders clamped down. Mortgage options were limited, making it harder for people to get approved. This week, I’m seeing a handful of lenders coming back with really good pricing. It’s opening up again, which is great because I do a bunch of jumbo loans.

These changes are good for any clients who are looking at the higher end of the market to buy a new home or refi their current home. Guidelines are going to be tight to get these loans approved. They are selective about applications and will watch every guideline. But know that they are available and they have great pricing right now.

I’m Always Here to Help

Let me know if there is anything that you are looking for right now – whether you are looking to buy or refi. I’m always available to help you find the right deal to meet your needs. For more information about your lending options, call our team at Franklin Loan Center.


Franklin Loan Center | NMLS 237653
Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, 4131316
http://www.nmlsconsumeraccess.org/entitydetails.aspx/COMPANY/237653
For questions or concerns please email info@franklinlc.com