When it comes to purchasing luxurious and high-value properties, who do you turn to for help? It’s Jumbo loans!
Jumbo mortgages can help home buyers such as yourself who need a loan amount that is much higher Jumbo loan limit Texas than the maximum limit for traditional loans. It has always been a useful tool for buyers with high income who want to avoid the expenses on Private Mortgage Insurance (PMI).
However, it can be hard to qualify for a jumbo loan especially with all of its stricter requirements. Some require a large down payment that’s a bit higher than most conforming loans. It is around ten to twenty percent depending on the size of the loan and the FICO scores. Also, its interest rates might be a bit higher than what most borrowers can afford.
With this in mind, another tool that homebuyers use to buy their dream houses … Read More