Luxury Highlands real estate benefits from low jumbo rates. Jumbo rates have made history, falling below rates for smaller home loans for the first time on record. This is great news for buyers of luxury homes in Highlands NC, offering a great deal of savings over the lifetime of a loan and perhaps even luring some buyers into the market.
Traditionally a jumbo home loan is one that is for more that $417,000. The amount can be higher in more expensive areas of the US, but in essence jumbo loans are a big part of luxury home transactions that involve a loan. Jumbo loans are also not federally backed loans. Over the past 6 or 7 years jumbo loans were typically .25 to 1.8 points higher than conforming loans.
Contact me, Lynn Kimball, today to learn more about Highlands NC real estate. There are some fabulous homes currently listed for sale and now is a great time to lock in your jumbo home loan. Let me get you started on your home search, recommend reputable local lenders and help you locate a property that suits your needs and your lifestyle.
Click here to read “’Jumbo’ Mortgage Rates Fall Below Traditional Ones” from The Wall Street Journal.