What is a good mortgage rate for a Jumbo mortgage?

kpny622 Posted: Dec 16, 2004 10:44 AM

What is a good mortgage rate for a Jumbo mortgage?

anyone care to share? I thought anything below 6% was good for a Jumbo (i.e. - more than $322,000) but someone said the rates are now even better - in the low 5% area

NPbride Posted: Dec 16, 2004 11:27 AM

Re: What is a good mortgage rate for a Jumbo mortgage?

I was told the amount just changed to $359,6something for a jumbo and I was getting quotes of 5.75-6%.

kpny622 Posted: Dec 16, 2004 11:39 AM

Re: What is a good mortgage rate for a Jumbo mortgage?

Posted by NPbride

I was told the amount just changed to $359,6something for a jumbo and I was getting quotes of 5.75-6%.

Thanks for the info.........anyone else?

alina Posted: Dec 16, 2004 04:33 PM

Re: What is a good mortgage rate for a Jumbo mortgage?

we got 5.875 in September, and I had trouble getting anyone go below 6%... So I would say in the low 5% is a bit unrealistic.

kpny622 Posted: Dec 16, 2004 04:37 PM

Re: What is a good mortgage rate for a Jumbo mortgage?

I keep seeing online advertisements for rates on a jumbo in the 5.375 - 5.6 range and I was just curious how realistic that was. We were told we were lucky to get 5.75 considering 6 is the norm on a jumbo. So I don't know what those ads are about.

september2004 Posted: Dec 16, 2004 06:24 PM

Re: What is a good mortgage rate for a Jumbo mortgage?

i guess it depends on the type of product?

we got pre-approved (not like that really means much) for a jumbo a few weeks ago. for the fixed it was just under 6 and for an ARM it was 5.1 something. rates are going up so that should fluctuate when it comes time for us to buy. we have yet to shop around though, this was just for pre-approval purposes...

i'm new to this and could very well be talking out of my arse

ETA: this is based on 10% down