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Latest Jumbo Loan Purchase Programs California
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 not be as many jumbo loans issued compared to non-jumbo loans they’re still readily available. Interest rates for jumbo loans can be slightly higher compared to those for conforming loan amounts but really the spread is relatively small. However, recent changes in jumbo guidelines now allow qualified borrowers to still put down as little as 5.0% for jumbo mortgage loan amounts up to $1,500,000. This is especially nice for homebuyers purchasing in more expensive locations like LA, Orange County, San Francisco, San Diego, etc.
Vet's should also ensure they read about VA High Blanace Jumbo Loans here.
These guidelines have been adjusted to reflect rising home values across the country so the adjustment simply followed what conforming loans did at the first of this year. The conforming loan limit was adjusted upward for the first time in nearly a decade. Prior to the increase which took effect January 1, 2017, the loan limit stood still at $417,000. ... more
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