How do I know if jumbo mortgage loans are available in my area?

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  1. Reply
    Kristin Davis
    May 16, 2011 at 4:50 am

    A jumbo loan is any VA loan greater than $ 417,000, except for Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit is $ 625,500. Qualifying applicants can apply to purchase or refinance their home for up to a value of $ 1,000,000 through this type of loan.
    Most mortgage lenders offer the same loan programs for jumbo loans as they do for conforming loans, such as fixed-rate loans and interest-only home loans. You may even be able to find zero-down jumbo mortgages without a problem. Most lenders these days can provide 100% financing on deals up to around $ 1.5 million.
    They should be available everywhere, it just depends on which lenders offer them. You can call a mortgage broker and they can find competitive rates for you.

  2. Reply
    Kaden Kal
    May 16, 2011 at 5:37 am

    Jumbo mortgage loans are available in all areas of the country. Since the increase in the conforming loan limit, many jumbo mortgage loans are now completed as conventional conforming mortgage loans which have low mortgage rates. The conforming loan limit is area specific and can be from $ 417,000 to $ 729,250.

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