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aklein@tidewaterhomefunding.com
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Ali Klein

NMLS ID 41552

804-424-2200 aklein@tidewaterhomefunding.com

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Blog Image: What Does It Take to Refinance a Jumbo Loan?

What Does It Take to Refinance a Jumbo Loan?

Mortgage interest rates have dropped significantly in the past year and everyone wants to take advantage of the savings. Those who have jumbo loans – mortgages with balances over the conforming loan limit of $510,400 in most areas – may wonder if they can refinance their loans too. The answer is a definite yes! There may be some additional requirements, but jumbo loan holders can absolutely benefit from today’s lower rates. Jumbo Loan Criteria Because jumbo loans involve such large amounts of money, the requirements for refinancing are typically stricter than with a con...

February 26th, 2020 | Jumbo Loans, Refinancing a Home, What Does It Take to Refinance a Jumbo Loan?

Blog Image: Jumbo Loan Basics

Jumbo Loan Basics

The majority of homes around the country are purchased with the aid of traditional, conforming mortgage loans. Yet when home prices rise quickly, many markets have price tags that are too high for these standard loans. Enter the jumbo loan. What is a Jumbo Loan? Jumbo mortgage loans are those that have a higher dollar amount than the limits set by Fannie Mae and Freddie Mac, the government-sponsored enterprises that buy up home loans and sell them on the secondary market. Since Fannie and Freddie are backed by the federal government, they create loan limits to minimize the risk of loss t...

November 14th, 2018 | Jumbo Loans, Adjustable Rate Mortgages, Fixed Rate Mortgages, Purchasing a Home, Jumbo Loan Basics