Affordable Jumbos: 40-Year Fixed Rate, Easy, Qualifying, Interest-Only for 10 Years
Orange County Register, Nov. 1, 2018–Jeff Lazerson
If affordability and qualifying are hurdles to a jumbo loan, there is some good news following a new report from CoreLogic that saw an 18 percent swan dive locally in year-over-year home sales. A new jumbo loan option eases borrowers into a permanent, fixed-rate mortgage by adding 10 years up front of lower interest-only payments, essentially making this a 40-year loan.
