Great New Jumbo Rates from B of A

Posted on March 27, 2009 by Connie Miller 
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Bank of America recently announced some unbelievable deals in jumbo loan financing. Remember those? Non conforming loans over the Freddie and Fannie backed limits. Well, you can now get 80% financing for jumbos with B of A as well as back end ratios around 50%. You need good credit scores (over 720) and decent reserves (rumored to be six months) But rates are good in the 5s. These are definitely worth checking out if you have wanted to move into a nice community but have had a problem with the higher down payment some banks are requiring. Of course as soon as I print this it will be outdated. So, talk to B of A directly. But it looks like at least one bank is finally putting that TARP money to good use for something that can actually benefit us here in Silicon Valley.

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