An average American carrying a mortgage would tell you the same story: it’s a tough process. Consider the money you have to save for the down payment, the paperwork that takes forever, and decades of taking majority of your paycheck for your house.Indeed, the American dream synonymized Read more
Getting a Loan Above the Conforming Limit
Mortgage giants Freddie Mac and Fannie Mae will only purchase or guarantee loans within a set limit for every county in the US. This cap is called the conforming loan limit. So what happens when the home you’re interested in comes with an expensive price tag? Consider a Jumbo Mortgage For most Read more
More Credit Access Driven by New Jumbo Lending Programs
Mortgage credit availability increased in March, per a report released by the Mortgage Bankers Association on April 6, Thursday. Quantitated by the Mortgage Credit Availability Index (MCAI), the release reported an increase of 3.2 percent from the previous month’s numbers. The Report March showed Read more
How to Secure the Best Jumbo Loan Rates?
Jumbo loan rates often top rates for any other loan simply because of the amount you borrow. It makes sense that a $600,000 loan would cost more than a $200,000 loan, right? Just because rates might be higher does not mean you have to settle, though. There are distinct ways to secure lower rates on Read more
How are Jumbo Mortgage Loans Different?
Have you heard the term jumbo mortgage loans and wondered what they were? These loans are basically a larger version of your standard conventional loan. Typically, the maximum loan amount for a conventional loan is $417,000. Any loan amount above that, unless you live in a high-cost area where the Read more
