572 Kearny Avenue

Kearny, NJ 07032

(201) 991-5719

homes@midrealty.com

Compare Listings

“Let’s Talk Real Estate! “JUMBO RELIEF” April 17th , 2019

Mid Realty officeJarlynn Hyde

Lets Talk Real Estate!

“JUMBO RELIEF” 

 A “jumbo” loan, a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA), is designed to finance luxury properties in highly competitive local real estate markets. The value of a jumbo mortgage varies by state (or country), and the FHFA sets the conforming loan limit size for different areas on a annual basis. The new baseline limit for a conforming mortgage on a single-family home in most of the country will be $484,350 in 2019. For 199 counties and territories, the limit is $726,525. Both limits are 6.9% higher than 2018. Buyers of homes with prices within the new limits could benefit from less strict lending standards or a lower interest rate. Jumbo lenders usually have stricter underwriting guidelines because they are riskier loans not backed by Fannie or Freddie. On the flip side, lenders have more to gain since the dollar value is higher and they can offer additional services to these wealthier customers. For information, please give us a call. We are privately owned agency that is not governed by a large corporation.  “OUR SUCCESS HAS BEEN BUILT ONE SATISIFIED CUSTOMER AT A TIME.”

img

Mid Realty

Related posts

“Let’s Talk Real Estate! “RENTERS FACE AFFORDABILITY CRUNCH” May 15th , 2019

Lets Talk Real Estate! "RENTERS FACE AFFORDABILITY CRUNCH"  According to a recent nationwide...

Continue reading
by Mid Realty

“Let’s Talk Real Estate! “PRECIPITATING CURCUMSTANCES” May 8th , 2019

Lets Talk Real Estate! "PRECIPITATING CIRCUMSTANCES"  Nearly all sellers' agents prefer to...

Continue reading
by Mid Realty

“Let’s Talk Real Estate! “WORK-REALTED RELOCATION” May 1st , 2019

Lets Talk Real Estate! "WORK-REALTED RELOCATION"  When an employee is aked by an employer to...

Continue reading
by Mid Realty

Join The Discussion