Jumbo mortgages are beneficial for choosing a high-end home in a pricey neighborhood, but they’re regarded as riskier when it comes down to loan provider as they do not feature authorities protections if a borrower non-payments.
Jumbo mortgages are beneficial for choosing a high-end home in a pricey neighborhood, but they’re regarded as riskier when it comes down to loan provider as they do not feature authorities protections if a borrower non-payments. As such, jumbo financing impose stricter qualification criteria: you truly need to have at least credit history of at least 700 and the lowest debt-to-income (DTI) ratio. Various lenders could have special criteria—and some is ...
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