What is a 5/1 jumbo ARM?

Answer Many customers need help deciphering the terminology being used by lenders. If you're considering a 5/1 jumbo ARM, there are three parts of this type of loan that must be understood.Time FrameThe t... Read More »

Top Q&A For: What is a 5/1 jumbo ARM

What is a jumbo IRA?

A "jumbo IRA" refers to an IRA account invested in a jumbo certificate of deposit (CD). Jumbo CDs are bank deposits with minimum balances of $100,000. The jumbo IRA receives a fixed rate of return ... Read More »

What is a jumbo CD?

A jumbo CD is a significantly large certificate of deposit. Depending on which institution is paying interest on the deposit, the minimum deposit required to open a jumbo CD may be between $100,000... Read More »

What is a jumbo loan?

A jumbo loan is higher than the money limits set by Fannie Mae and Freddie Mac, the two agencies responsible for insuring most mortgages approved in the United States. A single family property requ... Read More »

What is a jumbo arm loan?

A jumbo ARM loan is a mortgage that does not meet the conforming loan limits set by the Federal Housing Finance Agency and has an adjustable interest rate (ARM).What Are Conforming Loan Limits?The ... Read More »