Banks can offer bigger jumbo loans in 2021—but will buyers be able to get them?

… to be good for New Yorkers who rely on larger loans to buy in this expensive city On the one hand higher limits for conforming loans  could give New York City buyers some more breathing room This potentially could allow … down payments in order to get to deal In early November JP Morgan Chase sent a memo to loan professionals saying the …

By Jennifer White Karp |December 3, 2020 - 12:30PM
Banks want buyers to fork over larger down payments. Here are some workarounds

… New York City buyers who planned on setting aside a down payment of 20 … they  continue to tighten their lending practices Last week JP Morgan Chase sent a memo to loan professionals saying the …  70 percent of the sale price for jumbo loans forcing NYC buyers to up their down payments by an additional 10 percent …

By Emily Myers |November 12, 2020 - 9:30AM