Mortgage Questions Answered: What is a Jumbo Loan?

Mortgage Questions Answered: What is a Jumbo Loan?

Hey this is John Gardella again. I wanted to talk to you
guys a little bit about jumbo financing. That seems to be really hot these days
with property values appreciating. Doing a lot more jumbo loans, so I wanted to share
with you a couple of of guidelines for jumbo financing. First of all, we can do
jumbo financing 85% loan-to-value, 15% down up to $3 million,
okay? And we get underwrite that in house, and we can take care of all of that. 15%
down up to $3 million. And probably one of our hottest programs out there
right now with jumbo is the 89.9% to $1.5 million. That is 10.1%
down, no PMI, up to $1.5 million. So jumbo financing is is definitely on the rebound, coming back,
and also, by the way, jumbo rates are believable. We have
30 year fixed-rate jumbos right now at 3.5% to 3.75%. So give
you a call if you're seeking a jumbo loan jumbo purchase, buying a home or
also refinancing. Thanks. Have a great day..

Finance

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