December 4, 2019
Thankfully, there are not as many variations of mortgages, like there are homes, or you may never find yourself moving into the home of your dreams! When it comes to mortgages, you have your conventional loans and then you have your jumbo loans. The latter may seem a little intimidating, especially since there are more requirements and documentation needed. However, they are not as terrible as you may think they are.
First, it is important to know that jumbo loans are required for everyone purchasing homes that are more than $484,350, or sometimes higher in certain parts of the country. Since there are many homes out there that have that high of a price tag, there are more people with jumbo loans than you thought, so you have a chance of being approved too.