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Showing posts with label jumbo loan. Show all posts

Do You Need a Jumbo Loan?

Do You Need a Jumbo Loan?
In most cases, a bigger home needs a bigger loan. If you’re planning on purchasing a home that exceeds the cost of a conforming loan (typically $424,100), you’ll likely need to use a jumbo mortgage. There are multiple factors considered when applying for a home loan of this type, including the borrower’s credit score, financial strength, amount of down payment and the appraisal on the property itself.
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