Are Jumbo Loans easier to get on the Outer Banks now?

I have recently posted blogs about Jumbo Loans, but according to Realtor Magazine and the above news clip, Jumbo Loans are looking easier to obtain which is big news for anyone trying to purchase a home on the Outer Banks over $417,000.

Inside Mortgage Finance reported, the first part of this year, $54 BILLION in Jumbo Loans were originated, up from $47 BILLION in 2012. Of which, J.P. Morgan Chase originated $5.6 Billion in Jumbo Loans just since the first of 2013, adding up to 67% more than last year. Bank of America has increased their origination of Jumbo Loans by 37% over the last 5 months.

It only makes sense that with home prices on the rise, lending will need to follow.

So where do you start? Call me … I will give the information needed to either purchase your vacation, investment or permanent home on the Outer Banks. Labor Day is fast approaching and if you want to take advantage of the summer heat on the beach, you better act now.

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