mortgage loans united states: The suddenly desired Jumbo Loans are getting harder to get
- 07/22/20 11:50 AM
When the pandemic hit the U.S. lenders were afraid the home prices would drastically drop, so they decided to limit large mortgages to avoid a housing crisis like the one in 2008. More strict requirements for borrowers asking for high mortgages caused a drop in the supply of the jumbo loans.
Jumbo loans are a type of mortgage that is used when the property value is too high to apply for a conventional conforming loan. The minimum amount to be able to apply for a jumbo loan in most countries is $510,400.
When the pandemic arrived in the States in mid-March, borrowers and lenders … (0 comments)
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When the pandemic hit the U.S. lenders were afraid the home prices would drastically drop, so they decided to limit large mortgages to avoid a housing crisis like the one in 2008. More strict requirements for borrowers asking for high mortgages caused a drop in the supply of the jumbo loans. 
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