Jumbo Loan

San Diego Jumbo MortgageSan Diego Mortgage | Jumbo Home Financing

For a San Diego Mortgage, the loan limit for a Conventional Loan is $729,750.  So anything above that level will fall under the JUMBO loan category. The Federal Housing Finance Agency sets Loan Limits every year for Conventional Loans.  Any loan amount higher than the limit set for a Conventional Loan is said to be a “JUMBO” loan.

The Secondary Market for Jumbo loans is different than any other loan type, so it really is “it’s own market”.  The years of 2008, 2009, and 2010 saw the Jumbo loan market almost disappear.  Any Private lenders funding Jumbo loans during this period were asking for very high interest compensation for the tremendous risk that seemed to be playing out as a “worst-case” scenario.

However, in 2011, the Jumbo loan rates and programs are right in line with Conventional loans.  The loan amounts are just higher!  If You need a Jumbo loan, then You need a Jumbo loan.  It’s just that simple.  It’s not like buying a $400,000 home and trying to decide between an FHA loan and a Conventional, etc.  I’m glad to see the product back in a place where it can be used in a way that benefits American Families.

If You have questions about Jumbo Loans or which San Diego Mortgage loan or Mortgage expert might be right for You, just email me below.

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