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
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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