Jumbo Loan Returns to Broadview Mortgage | Business
Susan Bonanno, Broadview mortgage loan officer, left, and Kelly Marsh, branch manager. (Broadview Mortgage Photo)
Another strong indicator of economic recovery is the reintroduction of jumbo loans by a local mortgage office. Broadview Mortgage now offers loans ranging from $625,500 to $3 million, according to Kelly Marsh, branch manager of Broadview Mortgage’s downtown Santa Barbara office.
A jumbo loan is defined as a mortgage where the loan amount exceeds the conforming loan limits set by the Federal Housing Finance Agency. This means that the loan cannot be purchased, guaranteed or reviewed by Fannie Mae or Freddie Mac.
Although jumbo loans are technically different from a traditional mortgage, Broadview Mortgage has the same 30-day closing for purchase transactions and competitive market rates for jumbo loans, according to Marsh. There are 30 and 15 year fixed mortgages as well as five, seven and 10 year variable rate mortgages.
“We use our panel appraisers rather than going to a national appraisal service that sends appraisers out of town,” added Susan Bonanno, who was rated “Best Producing Loan Officer – Loan Amount and Number Total Units” for 2012 among Broadview Mortgage’s 42 loan officers. . “Additionally, Broadview jumbo loans can be used for second homes.”
Broadview Mortgage, based in Orange, offers residential loans and serves California. Its Santa Barbara branch was named the company’s “Top Producer Branch – Total Units”.
Those interested in learning more about mortgages and interest rates should contact Broadview Mortgage at 805.563.1100 or by clicking here.
— Jennifer Goddard Combs is a publicist representing Broadview Mortgage.
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