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Jumbo Mortgage
Loans |
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There are two main forms of
jumbo mortgage loans today's marketplace: |
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(i)
Home loans which exceed conforming loan limits
are known as Jumbo Mortgages or Jumbo
Loans.
The current conforming limit for 2007 for a single
family residence is $417,000.
Although these limits did not change in 2007 it is very
common to see a slight increase annually. |
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(ii) The term Super Jumbo Mortgage
is used to define mortgage loans exceeding $650,000. |
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Questions
to Ask |
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We try to group
all questions for home loan programs into two
(2) categories. |
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Ask Yourself... |
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Ask Your Lender... |
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Difference in rates and monthly payments
between a fixed rate mortgage and interest
only programs
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Inquire about
Fixed Rate Mortgages with Interest Only
Options. This may be an
alternative where you can realize the
security of a fixed rate but have an option
to make interest only payments.
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Can you obtain a Home Equity Line at the
time of closing.
This may help you have immediate access to
some of the larger down payment you were
required to put down.
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Mortgage Calculators. |
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Learn how much you can afford
with our set of mortgage calculators. |
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Calculate
Payments |
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