May 2015

20 May 2015

The market for jumbo loan financing

There is a lot of good news as it relates to buyers who are looking into financing a mortgage with jumbo loan terms.  So what exactly is a jumbo loan?  This is a loan in excess of FNMA/Freddie Mac’s loan limits.  In the Carolinas, this is any loan over $417,000.  This limit has not changed in the past few years.   A few years back, jumbo loans were less available than they are today. The rates/terms for jumbo financing have gotten considerably better over the last few years.  In fact, many times they are the same or better than a typical loan program. There are also more lenders offering these loan programs, so there are more choices and more options for financing. The issue...
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