Those who begin exploring the option of living the condominium lifestyle soon discover there is more than just a place to live. On the other hand, there are those who would rather purchase a more traditional single family luxury … [Read more...] about Luxury Condo Financing Chicago
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Jumbo Mortgage Cash Out Refinance
Jumbo mortgage rates have remained near all-time low levels this year, which is why many homeowners continue to refinance their home loans. Refinancing your mortgage can provide many benefits to you in the way of lower interest … [Read more...] about Jumbo Mortgage Cash Out Refinance
Jumbo ARM or Fixed: Which is Better?
When shopping for a luxury home you demand certain characteristics of a potential purchase. Where do you want to live? Will this be a primary residence or are you buying a second home to spend part of the year? How big? Single … [Read more...] about Jumbo ARM or Fixed: Which is Better?
95% Jumbo Financing Changes
Great news, the 5% down payment (95%) Jumbo mortgage loan limits have been increased from $1,000,000 to $2,000,000. This applies to approved home buyers nationwide. This is especially good news for home buyers in more expensive … [Read more...] about 95% Jumbo Financing Changes
Jumbo Loan Limit Caps 2020
Fannie Mae and Freddie Mac raised their respective conforming loan limit to $548,250 - January 1, 2021. Jumbo loan minimums in turn also increased to reflect the new conforming loan limits The protocol was established back … [Read more...] about Jumbo Loan Limit Caps 2020
Charlotte Jumbo Mortgage Qualifying
Jumbo loans are so-called primarily due to the amount borrowed compared with the conforming loan limit for the area. In most parts of the country like Charlotte, the maximum conforming loan limit is currently $548,250. A Jumbo … [Read more...] about Charlotte Jumbo Mortgage Qualifying
FHA Jumbo Mortgage Benefits
FHA mortgages are a popular choice for homebuyers because they offer lower down payment options and have more flexible credit standards than many other mortgage loan types. FHA loan limits are capped out to around $330,000 in most … [Read more...] about FHA Jumbo Mortgage Benefits
Phoenix-Scottsdale Jumbo Mortgage Options
A mortgage is considered a "jumbo loan" when the loan amount exceeds the set conforming loan limit. Conforming loans have a maximum loan amount of $548,250 in Arizona. Certain high costs locations like California, Virginia, … [Read more...] about Phoenix-Scottsdale Jumbo Mortgage Options
Virginia Beach Jumbo Mortgage Financing
Sometimes lenders refer to qualifying for a jumbo mortgage as the “Three C’s” which is a moniker for Collateral, Capacity, and Character. The phrase is a generalization but overall it’s a phrase heard often in the lending world. … [Read more...] about Virginia Beach Jumbo Mortgage Financing
Jumbo Loan Options 5% and 10% Down St. Louis
Jumbo loans are mortgages that exceed the current conforming loan amounts established by mortgage giants Fannie Mae and Freddie Mac. Just recently, they announced the conforming loan limit increase from $510,400 to $548,250 … [Read more...] about Jumbo Loan Options 5% and 10% Down St. Louis
5% Down Jumbo Loan Albuquerque
Recent changes in conforming loan limits for 2020 raised the maximum loan cap from $510,400 to $548,250 in New Mexico. That also changed the minimum amount for a jumbo loan. A jumbo loan is one that is greater than the conforming … [Read more...] about 5% Down Jumbo Loan Albuquerque
Why a Mortgage Preapproval Can Be Beneficial
There are multiple advantages when shopping for a home with a preapproval letter in hand. In fact, it’s almost standard practice especially in areas where it’s a seller’s market and the seller has the upper hand during … [Read more...] about Why a Mortgage Preapproval Can Be Beneficial
Jumbo Loan Approval Kentucky
If you’re in the mortgage industry you already know that both Fannie Mae and Freddie Mac raised the maximum conforming loan limit for 2021. The increase, from $510,400 to $548,250 took effect on January 1, 2021. Each year, Fannie … [Read more...] about Jumbo Loan Approval Kentucky
Jumbo Mortgage Fix Rate Or ARM
Getting approved for a jumbo mortgage loan is pretty much the same as other mortgage programs today. Most lenders and banks offer the same basic suite of loan options and among them is the jumbo mortgage. A jumbo mortgage by … [Read more...] about Jumbo Mortgage Fix Rate Or ARM
Jumbo Mortgage Basics
The concept of a jumbo mortgage really first began back in 1970 as a result of actions taken by the Federal Government. Then, there were two Government Sponsored Entities, or GSEs, Fannie Mae and Freddie Mac which operated … [Read more...] about Jumbo Mortgage Basics