Jumbo Loans Don't Have To Have Jumbo Rates
Message from Dan Avanzato
President of Norstar
- Cashout Refinance
- Avoid PMI
- Philadelphia Metro Area (call)
- Self Employed
- 680 Credit score min.
- NO Prepayment Penalties
Q & A
- What is a Jumbo Loan? A Jumbo loan is a non-conforming conventional mortgage meaning that it exceeds the maximum loan amount allowed on a conforming loan. Fannie Mae and Freddie Mac set the conforming Guidelines/Standards for mortgages and if a loan does not fit into these parameters it is considered non-conforming. The current maximum conforming loan amount is $417,000
Can I use a split loan with Conforming Mortgages? YES!! A split loan or Piggyback can be used with conforming products and may also allow you to extend your financing beyond conforming products alone.
Is a Split Loan Risky? NO... You may select various mortgage products and mix and match. You may select a 30 yr fixed for the 1st and a 15 yr fixed for the 2nd or you may prefer a 10/1 ARM on the first with a 10 yr fixed on the 2nd to build equity faster.
Give us a call to discuss all your options with a No cost, No hassle Free Quote!
90 % LTV up to 1Million