In today’s higher end real estate environment there are a lot of good deals out there but things can become a bit complicated when one is trying to sell a one million dollar plus residence while looking to move up. The jumbo mortgage market offerings via Fannie Mae and Freddie Mac are currently capped at 625,000 in most Bay Area cities. While there is a fair amount of true jumbo loans available underwriting is very strict as most of these institutions are keeping these loans “on their books”.Situation: Your house is currently on the market and you have found the perfect home to purchase. You want to make the best deal possible and do not want to have to write a contingent offer.
Solution: There are mortgage products available where, as long as your home is listed and you have an additional six months cash reserves to cover the payments, the debt on your current residence will not be counted against you when qualifying for the new loan. This would afford you the opportunity to write the cleanest offer possible.
There is a perfect home in Alamo for those who are looking to move up:
2503 Royal Oaks Drive in Round Hill Country Club
CLICK ON THE PICTURE FOR ADDITIONAL INFORMATION ABOUT 2503 ROYAL OAKS DRIVE IN ALAMO
It is always my goal to think “Outside the Box” to assist buyers and sellers.
I do not originate mortgages but keep abreast of current market conditions and product offerings. If you are in need of a referral I can provide several top-notch loan professionals for your review.
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