Jumbo mortgage loans, which sizzled during the housing
market’s rise to the top, and then fizzled out during the real estate market’s
collapse, are back with many flexible products. As a result more consumers are
able to consider purchasing luxury homes.
Even during the downturn, lenders continued to make some
jumbo loans to their very best clients-those with stellar financial pedigrees
that included high credit scores, high cash reserves and sizable down payments,
sometimes of more than 30% of the purchase price.
What’s different today is that demand for big loans is on
the rise, and lenders are eagerly stepping in at a time of recovering home
prices and improved economic reports.
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