Bank of America to Allow More Jumbo Mortgages

Miami Beach real estate sellers and buyers may benefit from Bank of America’s desire to fund more jumbo home loans. In a recent interview, BofA’s head of mortgage services announced the desire for the additional jumbo loans, ranging from $417K to $729K depending on the market, as well as the hiring of additional processing staff to handle the new applications and loans. This is good news for Miami and Miami Beach luxury condominium sales.

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