What Is a Jumbo Loan?Posted by Gary Ashton on
Many home buyers pursue conventional financing as a way to get a mortgage. In some cases, East Nashville home buyers need to apply for a different kind of loan. Jumbo loans are intended to offer financing to home buyers in areas with a higher cost of living, or who need a loan for a more expensive home. Jumbo loans can be quite similar to conventional mortgages, but there are a few differences. Borrowers should understand these distinctions before they apply.
For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.
1. What Is a Conventional Loan?
In order to know what a jumbo loan is, home buyers should have a basic understanding of conventional…
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