With home values increasing, you may find yourself in need of greater financing to make your homeownership dream come true. That’s where a jumbo loan comes in. Jumbo loans are loans that exceed the Federal Housing Finance Agency (FHFA) limit. If your required loan amount is even $1 over your area’s conforming loan limit, it falls into jumbo loan (or non-conforming loan) status.
Not having enough saved to fulfill a down payment requirement is no longer a reason to postpone homeownership. With help from the Chenoa Fund, you can be looking at as little as zero dollars down payment.
Freddie Mac’s Home Possible® mortgage program is a great option for first-time homebuyers, millennials, and low- to moderate income borrowers. Learn why and how it works. Happy home hunting home buyers!
Ready to take on a rental or investment property? Let us help you understand down payments, interest rates, and loan options for second home financing.
Qualifying for a home loan can be tricky for your average self-employed borrower. Learn about stated income loans, bank statement loans, and other self-employed mortgage alternatives.