US Bank Raises Its Jumbo Loan Limit

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Good News in the jumbo loan market! US Bank has raised its maximum loan amount from $900,000 to $1,500,000.

Here in the Bay Area, this change will really help mortgage brokers. We only have a handful of lenders that are funding jumbo loans. Many of these lenders either do not offer jumbo loans through their wholesale channel, or they make it very difficult to get approval to send them loan files.

There is an add-on to the rate of .2% for loan amounts above $900,000. However, the rates still are very attractive.

If you are not approved to send loans to US Bank, now may be a good time to get approved.