A jumbo loan is one where the mortgage amount is above the conforming loan limit. Currently, the conforming loan limit for most parts of the country stands at $766,550. However, some locations deemed "high cost" like parts of … [Read more...] about 5 Things Jumbo Buyers Need to Know
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High Cost Area Loan Limits Increased in 2024
For those who are somewhat familiar with the mortgage industry, they probably have heard the terms “conforming” and “jumbo.” These two terms refer primarily to loan approval guidelines. A conforming loan is one that meets … [Read more...] about High Cost Area Loan Limits Increased in 2024
Annapolis Jumbo Loan Recap
Jumbo mortgage programs in Annapolis have recently expanded to include many new reduced down payment options. These low down payment options are especially attractive to high-end buyers who have sufficient income but lack the … [Read more...] about Annapolis Jumbo Loan Recap
Jumbo Loan Interest Rates and Fees
Jumbo loan interest rates and fees are determined very much the same way as conventional or FHA mortgages. First, mortgage interest rates are greatly influenced by risk. It's really simple, the less risk to the lender or bank, the … [Read more...] about Jumbo Loan Interest Rates and Fees
Jumbo Loan Qualifying in Tucson: Everything You Need To Know
In the world of home financing, Jumbo loans are designed for Tucson homebuyers and provide larger loan amounts than basic conventional loans. Median home values in Tucson are currently $325,000, so with this, a basic conventional … [Read more...] about Jumbo Loan Qualifying in Tucson: Everything You Need To Know
California Jumbo Loan Options 95% – Updated Guide
Jumbo loans with 5 down payments are still available throughout California. These new low-down payment jumbo programs allow CA homeowners to take a mortgage loan that exceeds the conventional loan limits set by Fannie Mae or … [Read more...] about California Jumbo Loan Options 95% – Updated Guide
New Mexico Low Down Payment Jumbo Loans
Jumbo loans with only a 5% down payment are now available for qualified homebuyers throughout New Mexico. Buyers of luxury properties in Albuquerque and Santa Fe may find the reduced down payment programs especially helpful.If … [Read more...] about New Mexico Low Down Payment Jumbo Loans
Jumbo Mortgage Financing Newark, NJ
Jumbo Mortgage Financing Newark, NJ: Homes in Essex County have median home values that are higher than in most parts of the country. For example, the median home value in Essex County is around $567,000 and a bit lower in … [Read more...] about Jumbo Mortgage Financing Newark, NJ
Should You Avoid Jumbo Financing?
Jumbo loans are loan amounts above local conforming loan limits, in most locations the 2024 conventional loan limit is currently $766,550. Things have changed somewhat over recent years with Jumbo loans and these changes have … [Read more...] about Should You Avoid Jumbo Financing?
New Jumbo Loan Guidelines Rhode Island
Jumbo loan guidelines have continued to relax in recent years. Rhode Island's housing market overall has been on a steady rebound since the financial crisis back in 2008. Until recently, the minimum down payment for jumbo … [Read more...] about New Jumbo Loan Guidelines Rhode Island