Wells Fargo Private Mortgage Banking in Denver, Colorado today is offering a great rate of 4.25% with no points for a 30 year fixed rate Jumbo Loan! The program is for purchase transactions only, not for re-financing. One requirement is that the borrower must have a FICO credit score of 740 or better. This is the lowest jumbo fixed rate I have seen in over two years! This should bode well for high end homes for sale in Metro Denver. Jumbo Loans are for home loans with a balance greater than $417,000.
This news comes at a time when we are seeing increased activity in the high end home market around Metro Denver. Those of us involved daily with Denver real estate are always cheering any good news that comes around. 30 Fixed Rates for conforming loans less than $417,000 are around the 4.125% to 4.375% today without any points. 15 Fixed Rate conforming loans are approximately 3.25 to 3.5%.