“Lets Talk Real Estate!” “JUMBO LOANS” December 13th, 2023

Jarlynn Hyde“JUMBO LOANS”

A jumbo loan, also known as a jumbo mortgage, is a type of financing that works best for high-income borrowers with excellent credit who want to buy an expensive home.  Jumbo loans are appropriately named and named and are common in higher-cost areas such as San Francisco, Hawaii, and New York City.  More money means more risk for the lender; therefore, more in-depth documentation, including a rigorous credit check, is required.  The upside is that a jumbo loans tend to be competitive with other conventional loans.  However, jumbo loans require a down payment of up to 20 percent, a higher-than-average credit score, a low debt-to-income ratio, and proof of savings and other assets, which determine the loan amount.  Jumbo loans, fixed rate mortgages, adjustable-rate mortgages, FHA Loans, VA Loans, seller financing- there are all kinds of mortgages, loans, and lending programs available.  Which one is right for you?  We can point you in the right direction to find the professionals who can help you chose the most appropriate financing for your dream home. You can rest assured that we will be with you all the way in your next real estate adventure that requires considerable experience. “OUR SUCCESS HAS BEEN BUILT ONE SATISIFIED CUSTOMER AT A TIME.”

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