jumbo loans and what it means to you when selling your home: If your buyer is needing to borrow more than $417,000 to finance the purchase of your home read this before you sell - 08/26/07 03:45 PM
When you purchase a home that the loan required to finance the purchase is more than $417,100, this is called a jumbo mortgage and is a higher risk to a bank. This means that a home requiring a jumbo mortgage also comes with higher interest rates.
This $417,000 limit is set by Freddie Mac and Fannie Mae and, presently, with a down payment and great credit, the best interest rate you can get is 7.13% with no points according to bankrate.com. What does this mean to you, if you are selling your home?
If you have a home that is valued at over $417,000, it means … (7 comments)

 
Todd Clark - Retired, Principle Broker Oregon (eXp Realty LLC)

Todd Clark - Retired

Principle Broker Oregon

Tigard, OR

More about me…

eXp Realty LLC

Address: Serving: , Beaverton, Tigard, Aloha, Hillsboro, Lake Oswego, Sherwood, Tualatin, Wilsonville, West Linn, Tigard, OR, 97224

Office: (503) 524-9494

Mobile: (503) 706-0430



Helping Families Home is a blog set up to help families find that perfect home for them. I have a family and I understand how hard it can be to find a home that everyone is happy with. Let me help you find that home and help your family home.



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