Mortgage lending standards are loosening and it's being led by a recent expansion in the availability of jumbo credit.  

Customers can now get jumbo loans with as little as 5% down payment.  They can also get jumbo loans with credit scores as low as 610 and jumbo loans using bank statements, or assets, instead of tax returns to prove income to qualify.  They can now even get jumbo loans one day after foreclosure, BK or short sale.  

Loan guidelines are certainly not back to the ease of 2007 levels but getting much easier than the recent past...especially in jumbo.

Whether you are working or resting, have a great week!


Teresa McCormick