American Mortgage & Real Estate Group has Great News for California Jumbo Mortgage Holders

GLENDALE, Calif.--(BUSINESS WIRE)--California Jumbo Advantage Mortgage, a new 30 year fixed jumbo mortgage product launched by the American Mortgage & Real Estate Group, allows borrowers with jumbo mortgages to get the same low rate as borrowers with conforming mortgages.

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"As of Monday, September 17, 2007, the average rate on a 30-year fixed-rate jumbo loan was 7.36 percent, versus 6.64 percent on a conforming loan," says Vladimir Rozumniy, Founder and President of the American Mortgage & Real Estate Group. "However, the average rate on 30-year fixed rate jumbo mortgage at American Mortgage & Real Estate Group was 6.375 percent with one point origination fee. That's a difference of more than 1 percent in rate."

With this lower rate, the American Mortgage & Real Estate Group (available online at http://www.amregroup.com) gives borrowers with jumbo mortgages of $600,000 or more the chance to save at least $500 per month on their payments.

Further, at a time when institutions are lowering their loan limits to under $417,000 - the maximum loan amount that Freddie Mac and Fannie Mae would purchase - the American Mortgage and Real Estate Group has increased its loan limit to $2,000,000, while still being able to offer the low rate of 6.375 percent.

These services complement the wide array of flexible loan programs that the American Mortgage & Real Estate Group offers. Its web site, which features useful tools like a rate sheet and various payment calculators, is also a fund of information about the loan process and products. Customers can fill out online application forms, find out if they pre-qualify, and track industry news closely.

"In the light of recent events in the mortgage market, after all, it's not a slam dunk that Congress will act," says Rozumniy. "So instead of waiting for Congress, the American Mortgage & Real Estate Group has taken it upon itself to offer Jumbo Mortgage to Golden State residents, to ease the burden of their mortgages and take them closer to owning their dream home."

About American Mortgage & Real Estate Group

Rather than simply originating a home loan, the American Mortgage & Real Estate Group guides and advises customers through the mortgage process, helping them avoid pitfalls and capitalize on opportunities. The firm's loan officers give their clients personalized attention to find exactly the right product for them. For more information, please visit http://www.amregroup.com or call toll free 866-357-1707.




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