Today, we’re joined by Michelle Piccinini of New American Funding to discuss some recent good news regarding our market.
Given that our area’s median home price (currently $390,000) is on the rise, the majority of our local inventory now falls within a range that can be covered by jumbo loans.
Though most people think they can’t qualify for jumbo loans (which are those used to finance anything over $450,100), New American Funding has just made it easier to do so. New American Funding now offers a 5% down jumbo loan option, which means those interested in moving up now have the chance to do so.
In addition to this, New American Funding also offers many Non-QM options. In other words, they offer a number of loan products that aren’t backed by Fannie Mae or Freddie Mac. This can be very helpful for buyers in a compromised financial position—like those who have just gotten out of bankruptcy or foreclosure. There are financing options available for everyone through New American Funding.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.