JUMBO LOANS
Jumbo mortgages are a good solution for borrowers who are looking to buy a higher-priced home. If you have a higher property value and can manage larger monthly mortgage payments, consider a jumbo, or non-conforming, loan. Jumbo mortgages are home loans that are bigger dollar value loans than your typical loan.
Benefits and Considerations:
- Higher Purchase Limits
- Competitive Rates
Requirements and Qualifications:
- Credit history
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Conventional loans are a good choice for borrowers with very good credit, which generally means a FICO score of 680 (may go lower, upon exception) or higher.
- Down payment
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Gift for a portion or all of the down payment available.