5 down jumbo: New York Jumbo Financing Updates
- 12/26/17 06:17 AM
For 2020 the new base conforming loan limit was increased to $484,350 in New York. Certain "high-cost" counties like Dutchess, Nassau, Kings, Orange, Richmond, Rockland and Suffolk among others have new limits up to $726,525. Loans that are considered "conforming" are those underwritten by guidelines issued by Fannie Mae and Freddie Mac and do not exceed loan limits established by both agencies. Loans above the conforming loan limit are referred to as “jumbo” loans and have their own unique standards mortgage companies must follow when approving a home loan in New York. What sort of jumbo loan options are available in today’s … (0 comments)
5 down jumbo: San Antonio Jumbo Mortgage - Down Payment
- 10/24/17 10:46 AM
Financing a higher end home typically means taking a jumbo loan instead of a conforming. Current conforming loan limits issued by Fannie Mae and Freddie Mac are currently $484,350 in Texas and should remain the same through 2020. Loan amounts above this limit in Bexar County are considered high balance or “Jumbo.” Historically, most jumbo lenders ask for a 15 percent down payment and even 20%+ for higher loan amounts. When financing a jumbo purchase in San Antonio, there are some very competitive mortgage programs that don’t require such a large down payment. Consider a home listed at $715,000. A 20 percent … (0 comments)
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