Discount Points on Jumbo Mortgages are Hot Again. Here’s Why.
This month, The Wall Street Journal published an article discussing the discount points on jumbo mortgages during the COVID-19 pandemic. As you may know, a jumbo mortgage is a loan designed to finance high-value properties that exceed the maximum conforming loan limit set by the FHFA.
In the article, I was mentioned detailing a recent jumbo refinance loan experience that highlights the interesting situation we are currently seeing with these types of loans. For the past few months, jumbo borrowers have been paying more in points than they did before the pandemic began. We are also seeing a wide variance in jumbo mortgage rates where the difference between jumbo loans and conforming loans has narrowed.
Check out the article and give our office a call today to learn more about jumbo mortgages: 512-637-0932