Jumbo Home Loans in Idaho
What? Jumbo Home Loan
The traditional Conventional Conforming Home Loan has a value under $417,000 as set by Fannie Mae and Freddie Mac for most of the United States. Those above the $417,000 Conforming Home Loan Limit, are considered Jumbo Home Loans. Jumbo Home Loans are also known as Non-Conforming since they do not "conform" to the $417,000 loan limit. This limit is higher in areas with higher home prices, such as Alaska and Hawaii where the limit is $625,000.
Why? Jumbo Home Loan
Jumbo Home Loans, Non Conforming, are a great choice for Homebuyers with strong credit scores and the Financial ability to afford higher priced homes in the Non-Conforming tier and may not want to make a huge down payment. Mortgage Insurance drops the closer you get to 20% and once you hit 20%, there is no Mortgage Insurance leading to big savings.
For More info on Jumbo Home Loan
Call us at 208.957.7300 or text MyHomeLoan to the #79564 for more information!
AmeriFirst Financial, Inc