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Jumbo

Posted in: Jumbo Loans
By Taylor Mortgage Group

Jumbo mortgages are used to purchase high-priced homes that require larger than normal loans.  A Jumbo mortgage is a mortgage with a loan amount above conventional loan limits. One of the advantages of a Jumbo mortgage is that it allows you to purchase a more expensive home. The disadvantage is that you will sometimes will pay a higher interest rates. Since the dollar amount that defines a Jumbo mortgage is redefined each year therefore it is subject to change.  A Jumbo mortgage is nearly always considered a non-conforming loan amount because it exceeds the loan limits set by Fannie Mae and Freddie Mac. You should know that the single-family limit benchmark changes yearly and if you need to borrow more than that amount, you will need a Jumbo mortgage.

For more information about Jumbo mortgages or any other financing questions you may have, please contact the Taylor Mortgage Group today at 303-339-5950 or Janie's direct line 303-884-9393!
   

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Taylor Mortgage Group, LLC

Phone
303-884-9393
Fax
 
720-306-3813

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CO  License:  100013875
NMLS: 385946
Regulated by the Colorado Dept. of Regulatory Agency



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