Jumbo Loans
If you need to borrow more than $359,650, then a jumbo loan might be right for you. A jumbo loan is also called a non-conforming loan because it does not conform to the loan limits set by Fannie Mae (The Federal National Mortgage Association or FNMA) or Freddie Mac (The Federal Home Loan Mortgage Corp. or FHLMC). These are the two government-sponsored enterprises that help facilitate the availability of home loans by investing throughout the country. Non-conforming loans typically have a higher interest rate and different down payment requirements. Please contact me for detailed information. Choose a jumbo loan if you:
- Want to finance larger and/or more expensive properties and can handle larger monthly payments
- Are an investment-minded buyer who wants to leverage your assets more effectively
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