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 $484,350. However, some locations deemed "high cost" like parts of … [Read more...] about 5 Things Jumbo Buyers Need to Know
It’s one of those myths or misunderstandings that those buying a higher end home needs to have a down payment of at least 20%, but that’s not the case. As more and more areas across the U.S. seeing property values continue to … [Read more...] about Jumbo Loan Without a 20% Down Payment
Fannie Mae just announced the new conforming loan limits for 2019 as they do every November. Last year, due to recovering home values, we witnessed the first year-over-year increase in the conforming loan limit in nearly a decade. … [Read more...] about 2019 Jumbo Loan Down Payment Standards
Borrowers often ask "Can I Get Jumbo Loan With 10% Down Payment?" The answer is Yes, assuming the borrower meets the loan qualifying requirements listed below. In fact, there are also financing options that allow only 5% down, … [Read more...] about Can I Get Jumbo Loan With 10% Down Payment?
Various loan programs in Utah have their own internal guidelines that lenders and banks follow. Most of these guidelines are similar from one program to another and follow the same basic documentation process. For example, lenders … [Read more...] about Utah Home Loan Limits Explained
All home buyers looking to build should know certain things when it comes to financing options. Designing and constructing a home exclusive to your needs is far more preferable for many people compared to buying an existing home. … [Read more...] about Jumbo Loans for New Construction
When you contact a bank or lender for an interest rate quote you’ll discover that while the rates similar, they can and will change over time. Have you ever wondered why? Why don’t lenders just issue an interest rate and let it go … [Read more...] about Understanding Jumbo Interest Rates
For those purchasing a higher priced home, their loan options are generally confined to the jumbo mortgage arena. But that doesn’t necessarily mean a jumbo loan is more limited, or difficult to qualify when compared to a … [Read more...] about Jumbo Loan Application, Pre-Approval Process
Depending on where you live, whether its Cincinnati, Ohio or Portland, Oregon, median home prices can vary greatly from city to city. But what does not change is the difference between a conforming loan amount and a jumbo loan … [Read more...] about Differences Between Jumbo and Conforming Loans?
Lenders have their own internal lingo, not unlike any other industry quite frankly. There are acronyms everywhere such as PMI, DTI and LTV just to name a few. Lenders are also known to have assigned nicknames or other terms that … [Read more...] about Jumbo Piggyback: Finance a Jumbo Loan with Little Down