What was considered a jumbo mortgage in 2009?

Answer The financing limits on jumbo mortgages declined in 2009 from 2008 levels. Limits vary from area to area. For example, San Francisco, California, had a threshold of $625,500 while many lower priced... Read More »

Top Q&A For: What was considered a jumbo mortgage in 2009

What is considered a jumbo mortgage loan?

There are several types of mortgages available to consumers, with 30- and 15-year fixed rate mortgages and five-year adjustable rate mortgages the most common. One type of uncommon loan is the jumb... Read More »

What is a jumbo mortgage in california?

Jumbo loans are used by buyers who want to purchase homes in more expensive areas of California and beyond. These types of loans now are guaranteed by Freddie Mac and Fannie Mac.History of Jumbo L... Read More »

What constitutes a jumbo mortgage?

A mortgage is a loan used to purchase or construct your home. A jumbo mortgage is a home loan that exceeds the conforming loan limits set by Fannie Mae.Conforming Loan LimitsThe conforming loan lim... Read More »

What is a jumbo mortgage in New Jersey?

Borrowers looking for home financing amounts that fall outside of traditional guidelines often find themselves shopping for a jumbo loan. Jumbo loans were designed to help borrowers afford luxury h... Read More »