A good local school can be one of the biggest drivers of home prices in a community. Peter and Megan Dale of San Francisco say their two-bedroom condominium in Cole Valley, just south of the Haight-Ashbury District, is starting to feel cramped; their two school-aged children share a single room. But they have no plans…
Jumbo borrowers rushed into interest-only mortgages during the housing run-up; now many face loans entering their principal-repayment period Jumbo-mortgage borrowers feasted on interest-only loans during the housing boom, enticed by low down payments and monthly outlays. But a monthly sticker shock could be ahead for these borrowers. During the peak of the housing boom, from…
There is something new and different for home mortgages: Jumbo mortgage loans are being made at lower interest rates than traditional home loans. That’s kind of like a first class airplane ticket being cheaper than riding in coach. At first this seems crazy. For as long as anybody can remember, homeowners have had to pay…