Everyone has faced many changes and challenges over the last month due to the COVID-19 pandemic. The mortgage industry is no different and has seen many changes in regards to underwriting and loan approval requirements. Minimum … [Read more...] about Mortgage Lending Guideline Changes & COVID-19
Jumbo Mortgage
100% Doctor Mortgage Programs
New Doctor mortgage programs have emerged to include lower down payment options. Medical professionals have 100% financing options available for loan amounts up to $500,000. 95% Jumbo financing is also available for much greater … [Read more...] about 100% Doctor Mortgage Programs
High Cost Area Loan Limits Increased in 2020
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 2020
2020 Jumbo Loan Home Buyers Guide
Mortgage interest rates have managed to stay low and the high-end housing market has remained steady, with noticeable growth in select locations in California, Florida and North East. The expansion of low down payment programs and … [Read more...] about 2020 Jumbo Loan Home Buyers Guide
Just Updated 2020 Conforming Loan Limits
The new 2020 conforming mortgage loan limits have just been published. Buyers can look up their state and county loan limits below. Most of the nation saw an increase of $26,050 in the conventional loan amount limits. Overall the … [Read more...] about Just Updated 2020 Conforming Loan Limits
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
How Much Is PMI On Jumbo Loans?
Private mortgage insurance or "PMI" for short has traditionally been required on any mortgage where the loan to value exceeds 80%. However, in recent years new options have surfaced from lenders that give home buyers the option … [Read more...] about How Much Is PMI On Jumbo Loans?
Little Rock Jumbo Home Loan – Minimal Down Payment
Little Rock homebuyers in seeking Jumbo mortgage amounts can read about the new reduced down payment programs available today. First, it's important to identify the meaning of a Jumbo loan. In Pulaski County and all of Arkansas, … [Read more...] about Little Rock Jumbo Home Loan – Minimal Down Payment
New Orleans Jumbo Loan Guide- 90% and 95% Financing
A jumbo loan is one where the loan amount is greater than the prevailing conforming loan limit. For most of the country, Louisiana & New Orleans included, the conforming loan limit is $510,400. In other areas where the … [Read more...] about New Orleans Jumbo Loan Guide- 90% and 95% Financing
What Is Considered a Jumbo Loan Today?
What is considered a Jumbo loan today will depend primarily on the property location. Basically, any loan amount that exceeds the Fannie Mae and Freddie Mac conforming loan limits is considered a Jumbo mortgage. The current … [Read more...] about What Is Considered a Jumbo Loan Today?