jumbo loans: Conventional Home Loan Limits – Increased For 2019
- 11/27/18 01:15 PM
Conventional home loan limits are once again increasing for Fannie Mae and Freddie Mac backed conventional mortgages. The new loan limits are $484,350, up from the current limit of $453,100.
This increase also carries over to VA home loans, meaning that the base VA loan limit is now also $484,350 to qualify for a home loan with a 0% down payment.
What this means is that for someone looking to purchase a home with just a 5% down payment, they can now purchase a home up to $510,000, using a conventional loan.
For someone looking to purchase a home with … (0 comments)
jumbo loans: Getting A Home Loan Soon? – Don’t These Things
- 07/30/18 02:41 PM
In the past, we have written many articles on best practices, when it comes to qualifying for a home loan. We have also discussed what things not to do, when applying for a home loan, yet we continue to see these issues pop up from time to time.
So, if you are thinking of getting a home loan soon or anytime in the future, see our list below of what things not to do.
Of course, it makes sense to always speak to a licensed lender like Strategic Mortgage, because everyone’s situation is unique and many of the problems below are fixable, given … (2 comments)
jumbo loans: Homeowners Paying Down Their Mortgages From Jumbo To Conventional
- 08/27/12 08:23 AM
As interest rates continue to sit at historical lows, many homeowners have taken this opportunity as a time to refinance into a fixed rate home loan. Inevitably interest rates will rise and for this reason it makes sense to lock into a fixed rate sooner rather than later.
While interest rates are very low for all home loans, if you are looking for a fixed rate loan and you have a jumbo mortgage (over $417,000 in almost all of Arizona), you will see a higher fixed rate available. That is because the Jumbo market is essentially a … (0 comments)
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