January 23rd, 2014 by admin
Posted in Cost vs Price, first time buyer, Flipping Property, Interest Rates, jumbo loans, low down payment, Lowest Interest Rate, luxury home loans, Mortgage Interest Rate Deduction, NO PMI, Private Mortgage Insurance, Real Estate, VA loans |
Tags: 5% down NO PMI, bank loan, best lender in charleston, best loan in charleston, best mortgage rate, charleston home purchase, charleston investment properties, charleston mortgage broker, interest rates, lender, low down payment loans, low rates, mortgage, rising rates
What’s considered a Jumbo Loan? It’s any loan amount exceeding the county’s conventional loan limit. In most areas that’s $417,000. Some areas considered “High Cost” like New York and Southern California have higher limits. As high as $625,500. When you exceed this limit on your loan amount you fall under different guidelines that effect down…