Jumbo loans causing home buyers to come up short

Jumbo loans causing home buyers to come up short.
The nation"s creditors are struggling, as are some home buyers and sellers. Even buyers who have good credit and money may struggle due to the tightening home loan market. When Theresa Berner went to buy a southern California home, she said she came up short. I"ve called people from San Diego to Los Angeles, and no one can do the loan for me,' Berner said. The Berners have good credit, 6-figure salaries, and were approved for a $600,000 loan to buy a Burbank home, but then their lender went belly-up. Now I don"t know what to do,' Berner said. There is no way I can get a home.' The Berners need a jumbo loan, which is a loan over $417,000. In the past few weeks, some jumbo rates has climbed about a percentage pointto over 8 percentputting financing out of reach for many borrowers, including borrowers in Bakersfield.