When would I need a JUMBO home loan?
What is a JUMBO mortgage loan?
Can I qualify for one?
Cheryl MillerEld, would you please explain this.
A B S O L U T E L Y ! ! !
An $850,000 mini-mansion in Idaho exceeds the
geographic maximum loanable funding that a con-
ventional loan can be written for/approved for.
However, to save the day, we developed a
home loan breed of its own for these sizable
loan requests. I believe that this shifts the
loan program over to non-conforming programs.
I will leave it for you to research as to whether
JUMBO home loans can be financed by the
government backed loan programs or not. I
believe not.- but now-a-days...who knows?
Gooch Darling !!!
ReplyDeleteJumbo financing is a niche that is so reality in cities like Seattle, NewYork City, Miami, San Diego, Anchorage, DC, where the cost of living is emensely higher than your hourly wage earner States. I mean where it takes half a million dollars of money to buy a real stick built home property,,,at a minimum. Real money. That half million will get you into older homes of the fifties or sixties in Seattle,,, some refer as being "getto."
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