jumbo rate: Taking The Mystery Out Of The Jumbo Mortgage Loan
- 07/02/17 06:34 AM
Most consumers don't understand what the rationale is behind a jumbo loan vs. conventional mortgage financing. A conventional loan refers to a mortgage that can be sold and securitized through Fannie Mae or Freddie Mac. These two agencies were originally established as government sponsored agencies, or GSA. A GSA is a privately, or publicly (stock ownership as is the case with FNMA and FHLMC) owned entity which has the implicit backing of the US Government. Nothing could be more clearly illustrated than when FNMA and FHLMC became insolvent during the mortgage crisis and the government stepped in and took them over. As … (1 comments)
jumbo rate: Is a JUMBO VA Loan The Right Option For You
- 07/02/17 05:40 AM
A VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses, provided they haven't remarried. The most attractive benefit of a VA loan is an option to finance 100% of the home purchase, however, most would be home buyers don't realize that you can purchase an upsale home with a very small down payment relative to jumbo mortgage requirements. VA has an unique way of calculating the down payment for a purchase price that exceeds the conventional lending limit of $424,000 (may be more in high value real estate markets). Jumbo mortgages typically require a … (0 comments)
Most consumers don't understand what the rationale is behind a jumbo loan vs. conventional mortgage financing. A conventional loan refers to a mortgage that can be sold and securitized through Fannie Mae or Freddie Mac. These two agencies were originally established as government sponsored agencies, or GSA. A GSA is a privately, or publicly (stock ownership as is the case with FNMA and FHLMC) owned entity which has the implicit backing of the US Government. Nothing could be more clearly illustrated than when FNMA and FHLMC became insolvent during the mortgage crisis and the government stepped in and took them over. As … (1 comments)
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