Mortgage Blog

It has been a long time since we submitted the HELOC loans.
Because the loan limit lowered to $625,500, we have strong
demands for the HELOC by splitting the big jumbo loan.

I have one borrower who needs to borrower 900k loan.
And we managed to get 4% for 30 yr fixed for 625k
first loan; 3.99% for the HELOC. This borrower
has this HELOC rate becuase CLTV is less than 70%.
Otherwise the HELOC rate is will be as high as 4.5%.

But still since the HELOC loan amount is small, we
can avoid to get the Jumbo rates.

We feel like there will be more demands in the future,
more on purchase loans, though.