Home Mortgage

American Home Mortgage Corporation Section


American Home Mortgage Corporation Navigation


Stress and Anxiety Guide Home Page
Tell A Friend about us
Base Business Home Mortgage |
California Home Mortgage Refinance Home Improvement Loans |
Free Home Mortgage Loan Calculators |
Wells Fargo Home Mortgage Online Banking |
Best Refinance Home Mortgage Rate Calculator |
New Jersey Home Mortgage Rates |
Home Mortgage Rate Refinance Today |
California Refinance Home Mortgage Rate California Best |
Mobile Home Mortgage California |
Home Mortgage Refinancing Rates In Britain |
California Home Mortgage Refinance Loan |
Current Home Mortgage Loan Rates |
Home Mortgage Lenders |
Primary Home Mortgage Loan |
Refinance Calculator Home Mortgage Refinance Loan |

List of home-mortgage Articles

Social bookmarking
You like it? Share it!
socialize it

Main American Home Mortgage Corporation sponsors


Newest Best Sellers


Welcome to Home Mortgage


American Home Mortgage Corporation Article

Thumbnail example. For a permanent link to this article, or to bookmark it for further reading, click here.

You may also listen to this article by using the following controls.

Jumbo Home Mortgage Loans - What They Are And Where To Get Jumbo Loan Financing

from: Carrie Reeder

A jumbo mortgage is different than a conforming loan. A jumbo loan amount exceeds that limit set by FNMA. That limit can change every year, but is around $300,000. With a jumbo mortgage, the interest rate is a little higher than other similar mortgage loans that are for smaller amounts. The reason the rate is higher is because the loan has a perceived higher risk by lenders.

A jumbo loan is considered a non-conforming loan. Conforming mortgage loan programs have perceived less risk by lenders and have lower interest rates. Most mortgage loans that are done by lenders are conforming loans. Jumbo loans are a small percentage of the mortgages that are done.

Although most mortgage loans that are done in the US, are smaller loan amounts than those limits set by Fannie Mae and Freddie Mac for jumbo loans, in California, home prices are so high, that there are many jumbo home loans done there.

If you live in California and/or are looking to get approved for a jumbo loan, the internet is a great place to apply to get a jumbo loan for a few reasons. First of which is that there are so many lenders online competing for your business, that lenders are forced to offer their lowest possible rates in order to get your business. For example, a local broker, who has a steady client base, may not be motivated to offer the lowest rate or the lowest closing costs, when the competition is only local. However, when you have the largest group of lenders online competing for your business, you can get a much better offer.

Where is the best place to apply for a jumbo loan? There are many mortgages companies online who can provide you quotes from multiple lenders. These companies will be able to provide you with quotes for usually up to 4 different lenders. This is a great way to make sure to get competitive offers. However, make sure you still ask each competing mortgage lender about the points they will charge, their closing costs and any other fees, to make sure you are getting the best loan you can.

Getting the lowest interest rate does not always make the loan you want, the best deal. The lender can charge more in other places that you might not catch until closing.
About the Author

Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans. To view our list of recommended lenders online for jumbo loans, visit this page: http://www.abcloanguide.com/mortgageloans.shtml

Other American Home Mortgage Corporation related Articles

Home Mortgage Loans
Is Now A Good Time To Refinance Your Home Loan
Bridge Loan
Locating A Home Mortgage
Finding The Best Mortgage

Do you want to contribute to our site : submit your articles HERE


American Home Mortgage Corporation News