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Jumbo Home Loans Coming Back
In recent years as credit standards have tightened on mortgages and many home loan products have gone away, with more than a few for the good, jumbo home loans have become more difficult as well. However, it now appears that this trend is being reversed as jumbo mortgage are starting to make a comeback with both lower interest rates and higher loan to values available.
 
A jumbo mortgage is anything over the conforming loan limit for that geographic area, which currently sits at $417,000 for all areas of the country that are not considered high cost. Here in Arizona, that represents the majority of the state and all of the Phoenix and Tucson metro areas.
 
 
 
These types of mortgages are not insured by Fannie Mae or Freddie Mac, like conventional loans and are not government insured mortgages like FHA and VA loans. Therefore, as the mortgage market went through a turbulent time the past few years these types of mortgages became more expensive and even more restrictive. 
 
However, jumbo mortgage loans are finally starting to make a comeback so to speak as interest rates on jumbo loans are still a little higher than the rates ... more

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