2010 Real Estate Guide
A yellow house with white trim, a dark roof and the sky
What's best mortgage for your lifestyle?

30-year jumbo mortgage
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What is it? Jumbo mortgage loans are 30-year fixed-rate loans too big to be bought and repackaged by mortgage giants Freddie Mac and Fannie Mae for resale to investors. Banks that issue jumbo mortgages have to hold onto the debt themselves, thus incurring more risk (which is compounded further by the large amount of money at stake).

As a result, jumbo borrowers can expect not only a higher interest rate on their loans, but also more difficulty finding lenders.

Who is it good for? Buyers of large, expensive or midrange homes in areas of the country where housing is more costly.




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Holden Lewis

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It's still a seller's market out there in most places. So rejoice if you're selling a house, and feel a bit apprehensive if you're trying to find a house to buy.  ... Read more


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