What is a Jumbo Loan in Carlsbad California?
A loan is considered a jumbo home loan in Carlsbad if it exceeds what is known as
the conforming loan limit.
the conforming loan limit.
This loan limit varies by county across the U.S. Currently,
in San Diego County the high balance conforming loan limit is $546,250.
in San Diego County the high balance conforming loan limit is $546,250.
FHA home loans in San Diego County maintain a maximum limit
of $546,250 for single family homes.
of $546,250 for single family homes.
Jumbo home loans generally calls for higher credit scores,
lower debt-to-income ratios, bigger down payments, and higher reserves,
compared to regular conforming loans.
lower debt-to-income ratios, bigger down payments, and higher reserves,
compared to regular conforming loans.
Interest rates are usually higher on a Jumbo home loan
compared to a conforming loan.
compared to a conforming loan.
How do you get pre-approved for a Jumbo home loan in San
Diego?
Diego?
Contact me, and I or one of my team members will prepare the
necessary documents needed.
necessary documents needed.
Interest rates do change, and now may be the best time for
you to purchase or refinance depending on your situation.
you to purchase or refinance depending on your situation.
No comments:
Post a Comment