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Are Jumbo Loans More Affordable than Other Conventional Loans?

in Financing

December 4, 2019

When you are searching for a home that costs more than what you can get through a conventional loan, you must apply for what is called a jumbo loan. Most of the time, jumbo loans are used for homes that cost more than $510,400, but in some places of the country, that number rises to $765,600. Interest Rates of Jumbo Loans How Jumbo Loan Rates are Set by Lenders Lenders use the same methods to choose their jumbo loan rates as they do their conventional loan rates.

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Do You Need More Money than What a Conventional Loan Offers? Consider a Jumbo Loan Instead

in Financing

December 4, 2019

When it comes to taking out loans, you may not be aware that there is more than one option available to you. This is especially true if you are in the process of searching for your dream home and know that it is going to cost more than what you can get with a conventional loan. If you are currently having that issue, or think you will in the future, then you must learn everything that you can about jumbo loans.

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Looking at Homes with Hefty Price Tags? Don’t Stress Over Jumbo Loans

in Financing

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.

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Thinking of Refinancing Your Jumbo Loan? Here’s What You Need to Know

in Financing

December 4, 2019

Applying for your jumbo loan took a ton of time and patience, so please do not expect anything less if you plan on refinancing that loan. The requirements are just as strict, and you will need just as much documentation as you did the first time. There is good news though, and that is that you can save hundreds of dollars each month if you are approved at a lower rate.

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