Lenders 1-888-NO-FOOT-PAIN™ If you are a Jumbo loan Lender you can join the 1-800-JUMBOLOANS network and be listed on this website. Having an unforgettable telephone number to use on your vehicles, advertising and your own website will make every form of advertising you do more effective and increase the amount of business you do. We will provide you with significant Internet advertising.
Read moreCategory: Uncategorized
MORTGAGE TERM GLOSSARY
1-800-JUMBOLOANS™ Agreement of Sale : A contract in which a seller agrees to sell and a buyer agrees to buy, under certain specific terms and conditions spelled out in writing and signed by both parties. Amortization: A payment plan which enables the borrower to reduce his debt gradually through monthly payments of principal. Appraisal : An expert judgment or estimate of
Read moreOTHER MORTGAGES
CONVENTIONAL CONFORMING A conventional conforming loan is any loan that has terms and conditions that have established guidelines established. Fannie and Freddie Mac (the two leading loan agencies) decide what the minimum and maxium will be for each year. You can obtain a maximum loan amount that is 50% higher in Guam, Alaska, Hawaii, and the virgin islands. A conventional conforming
Read moreWHICH LOAN IS BEST FOR YOU
Before you apply for a loan there are a few things you should do. First you should check your credit score. Credit scores play a major factor in your interest rate for your loan. You are allowed to get a free credit report once a year, so this shouldn’t cost you anything. If you have previously checked your credit score,
Read moreJUMBO LOAN ISSUES
A conventional conforming loan is any loan that has terms and conditions that have established guidelines established. Fannie and Freddie Mac (the two leading loan agencies) decide what the minimum and maxium will be for each year. You can obtain a maximum loan amount that is 50% higher in Guam, Alaska, Hawaii, and the virgin islands. A conventional conforming loan
Read moreJumbo Loan Limits
MINIMUM 1-800-JUMBOLOANS™ The smallest amount for a jumbo loan this year is $417,000. The price to take out one of these loans in Hawaii, Alaska, the U.S Virgin Islands and Guam is $625,000. If you need to get a jumbo loan then the minimum amount available is $650,000. These prices are set by the Office of Federal Housing Enterprise
Read moreJUMBO LOAN RATES
1-800-JUMBOLOANS Jumbo loan rates depend on many factors, so there is no way to let you know what you will pay. First off, every state has different rates. For example, Hawaii starts its jumbo loan rate at $625,000 while every other state starts at $417,000. This is due to the average price of homes and is set by
Read moreJUMBO LOAN SPECIALIST
1-800-JUMBOLOANS™ A jumbo loan specialist is an individual mortgage officer who has extensive experience in arranging jumbo loans for their customers. Jumbo loans are different from all other mortgages in many ways. Particularly today your jumbo loan mortgage lender should feel comfortable with the issues they may encounter when they arrange your loan. You should work with a
Read moreTYPES OF JUMBO LOANS – JUMBO CONSTRUCTION LOANS
1-800-JUMBOLOAN™ If you are planning on applying for a construction loan there area few things you should know before you get started. First, lenders have to know the story behind the planning of the house before they will give you a loan. This means that construction loans don’t abide the guidelines of Freddie Mac and Fannie Mae. Construction Loans are
Read moreTYPES OF JUMBO LOANS – ADJUSTABLE
Adjustable loans are another possibility while choosing a Jumbo loan. Adjustable jumbo start off as a fixed rate loan and then become an adjustable rate loan after a certain amount of time. Adjustable loans will start off as fixed loans for either 6 months, 12 months, 2, 3, 5, 7 or 10 years, then turn into an adjustable loan. These
Read more