Not a jumbo. I think he said it was through Wells Fargo – it could have been SDCCU.
He’s got great credit, good income (he’s a couple pay grades above me) and a big down payment – enough that it was conventional (not even conforming jumbo).
My other friend is in Missouri – it’s definitely not a jumbo since they owe well under $100k on their 5 acres. They’re in farm country and prices are a lot less. I have no idea who they financed with. She’s been grappling with whether to refi for 2 years, and whether to pull cash out to do some badly needed updating, or to sell and get a bigger house. The rates were low enough they pulled 20k out, kept the same payoff date (refi’ing their 15 year loan to a 10 year… since they’re 5 years in). So they’ll have the money to do repairs/updating and keep their payments the same.
