michigan jumbo loan 90 percent: Michigan Jumbo Loan Without PMI
- 12/19/16 09:22 AM
A Jumbo loan is any single loan amount over the conforming loan limit of $424,100 throughout most of Michigan and the U.S. When Fannie Mae and Freddie Mac limits do not cover the full loan amount on high valued homes, the loan is referred to as a “Jumbo” mortgage. Many residents in MI are not aware that jumbo financing options are available up to 95% financing, and without monthly mortgage insurance (PMI) costs. The Michigan Jumbo is especially good for home buyers looking to purchase in the higher costs locations around Detroit, Grand Rapids, Lansing, Ann Arbor, etc. Below we will look … (0 comments)
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