If you have a property worth over $417,000 and you want to refinance, you may want to consider getting a jumbo loan. With a jumbo loan, you can refinance your high value property in the most effective and efficient manner possible. Of course, when it comes to jumbo loans, you need to understand the nature of jumbo loans and your best rates.
Therefore, allow the private mortgage managers here at Simply Direct Mortgage to show you the best rates for jumbo loans, and how they can help you refinance your high value property.
What Are Jumbo Loans?
Jumbo loans are loans on properties worth over $417,000. Many mortgage lenders refrain from financing these properties because of their high value, and the high value of the loan. Therefore, you need to choose a private mortgage manager who specializes in jumbo loans.
There are several risks for jumbo loans which make jumbo loans difficult to get. These include:
• A jumbo loan bears a high risk for lenders.
• If a jumbo loan defaults, it is harder to sell a luxury residence for full price.
• Luxury prices are sometimes more vulnerable to market highs and lows.
• Jumbo home prices can be more subjective and not as easily sold to a mainstream borrower.
Of course, if you choose a high-quality jumbo loan lender, then you can avoid all of these risks.
The Best Rates for Jumbo Loans
In the current economy, there are several different rates for jumbo loans, based on the rates offered by large banks.
Most of these rates can top 4 percent if you choose a large bank such as Chase, CitiBank, or Bank of America. In addition, there are high fees associated with jumbo loans from large banks, with some rates topping $2,000. This is just one of the many reasons why a private mortgage manager can offer you better rates for jumbo loans.
Therefore, the fact of the matter is that the best rates come from private mortgage lenders, but only if you choose an Atlanta mortgage lender of the highest quality.
Choosing Simply Direct for Your Jumbo Loan
When you choose Simply Direct, our jumbo loan mortgage managers can guarantee that they will offer you the very best rates on your jumbo loans. Our managers establish personal relationships with their clients, which means that they are able to work along side you, giving you the best service and the best rates.
In addition, our managers offer:
- No closing costs
- A 33% commission rate
If you’re interested in learning more about mortgage management, contact us!
For a complimentary consultation, please call our office today at 404-475-6270.
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