3-22-09: Bank of America Making Jumbo Loans Available Again!

It's been difficult to obtain a Jumbo Loan for more expensive homes recently.  But, Bank of America cut interest rates on Jumbo Loans that are 30-yr., fixed-rate, up to $3 million.  Not everyone will qualify, of course, but if you have a 720 or better FICO Score, can fully document income, have 20% to put down, & assets to cover 6 months of payments, you just may qualify.  Currently, Interest Rates they are offering are in the high 5% range.  You must get the loan directly through BofA & cannot go through an Independent Mortgage Broker.  This change may help to start moving the luxury end of our market if more people learn about it.