Kathy Lambert's (jumbomtg) Blog

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Mortgage and Lending - Jumbo Mortgage Source
Jumbo Mortgage Source specializes in 95% Jumbo loan financing information for home buyers in all 50 states. Learn more about all the Jumbo loan programs for purchase and refinance at http://JumboMortgageSource.com
As home prices continue to rise, many home buyers find the home they really want to buy has just been pushed into the “jumbo” price range. Jumbo loans will carry slightly higher interest rates than conforming ones and credit scores need to be a bit higher. Other than that, jumbo mortgages in Phoe...
 When shopping for jumbo loans to finance high-cost homes in Arkansas, most lenders require 10 or even 20 percent down payment. Financing a home selling for $1.5 million, that would mean a down payment of $300,000 and a loan amount of $1.2 million. Some banks even ask for more down payment, espec...
 With the median home value in Savannah approximately $143,000 and a median household income of $37,000, homes are very affordable in this south Georgia. Yet despite this relatively low median home value, the luxury home market remains robust.  There are many homes listed for sale that fall into ...
The jumbo mortgage financing options in California are typically a bit more restrictive when compared to standard conforming loans. Conventional conforming loan limits today are at $424,100 in most markets and $636,150 in areas that are in so-called “high cost” areas in CA. Yet while there may no...
Some of the Jumbo financing loan limits have recently been updated below.  Home buyers that have questions can always reach us by calling 800-840-6449 or visit www.JumboMortgageSource.com for more info 95% Jumbo Financing: Max loan limits are $1,500,000 -  5% down payment 700 credit scores requir...
Fannie Mae and Freddie Mac recently raised the maximum conforming loan limit for the first time in many years. The increase was from $417,000 to $424,100 and took effect on January 1st, 2017. These loan limits apply to most the country except the designated "high cost" locations in Florida, Calif...
 When is a jumbo loan a jumbo loan? Well, today a jumbo loan in most parts of the country is any loan amount above the new conforming loan limit of $424,100. This new conforming limit took effect January 1 of this year. Just this past December, the conforming loan limit was $417,000. This increas...
 A Jumbo loan is any single loan amount over the conforming loan limit of $424,100 throughout most of Michigan and the U.S. When Fannie Mae and Freddie Mac limits do not cover the full loan amount on high valued homes, the loan is referred to as a “Jumbo” mortgage.  Many residents in MI are not a...
Just like many other major cities in the U.S.,  median home sales prices in Charlotte, North Carolina are continuing to rise and are currently around $260,000. Compare that with almost 5 years ago when the median sales price was just over $150,000. In the jumbo market, home values have impressed ...
With the median home value in Birmingham at approximately $168,000 and a median household income of $36,000, homes are very affordable in this southern city. Yet despite this relatively low median home value, the luxury home market is doing just fine. There are approximately 1,100 homes listed fo...

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