Hi,
I see this website about a jumbo mortgage reviewing all these companies, but it doesn't explain what it is.
Can anyone help me understand what a
jumbo mortgage is?
Thanks in advance
Alfred.
I just give you a short description about the topic because i don't know in detail. "A jumbo mortgage is a mortgage with a loan amount above conventional conforming loan limits. "
A mortgage with a loan amount exceeding the conforming loan limits set by the Office of Federal Housing Enterprise Oversight (OFHEO), and therefore, not eligible to be purchased, guaranteed or secularized by Fannie Mae or Freddie Mac. OFHEO sets the conforming loan limit size on an annual basis.
Thanks.
Dear All,
Please visit my article for Jumbo Mortgage. You can find complete information about there.
JUMBO MORTGAGE
Regards,
Intuitive Mind
Nice but can you tell me the advantages for jumbo mortgage and also disadvantages if any .....
Thanks.
I can't get involved in this topic more deeply as i have already mentioned its pros and cons in my other article. But to steam line the multiple thoughts of your mind, Jumbo Loans are meant for acquiring big houses that crossing the established line of credit. If you wish to have a loan like that then just contact Jumbo mortgage lender. No need to avail multiple loans. Biggest disadvantage of Jumbo loan is, you can sell property easily in foreclosure.
Really nice post.
Can anyone tell me How can we sell property easily in foreclosure ?
Thanks.