waterfront properties in ocean county: Financing Your New Waterfront Home on The Jersey Shore
- 02/21/20 05:10 AM
Wondering how you can finance the purchase of your new waterfront home on The Jersey Shore? The answer is a jumbo loan.
Differences between conforming loans vs. jumbo loans in the mortgage world.
Loans amounts at or under a certain limit qualify as conforming loans. They "conform" to guidelines set forth by Fannie Mae and Freddie Mac. Conforming loans make up most residential loans funded. Loan amounts that are above these limits are referred to as jumbo loans. With a conforming loan, lenders can sell the mortgage in the secondary market, replenishing their credit lines in order to make more loans. Jumbo loans … (1 comments)
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