What Exactly Does “Jumbo Mortgage” Mean?
March 15, 2005 (Press Release) --
Mortgage loan amounts for more than $359,650.00 are referred to as "Jumbo Mortgages."
They are truly non-conforming mortgages because they exceed the conventional mortgage loan amounts allowed by Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), both of which are government sponsored businesses that invest in mortgages in the secondary market and set standards for the mortgage industry.
Because the number of Americans that can afford to have a Jumbo Mortgage is somewhat limited, so too is the market for such a home if in rare instances, the lender had to foreclose. As a result, there is more risk associated in granting a Jumbo Mortgage, which is off-set by a slightly higher rate than a standard conventional mortgage.
As specialists in Jumbo Mortgages, CatholicMortgage.org offers a full array of products and features so that your new mortgage is customized to meet your needs.
CatholicMortgage.org can also offer options to make it easier for you to get quick approval and get into your spectacular new home or enjoy the benefits of refinancing.
Here are just some of the special options and features CatholicMortgage.org can offer:
No Income/No Asset (NINA) Jumbo Mortgage
No income verification required
No asset verification required
No employment verification required
Available for salaried or self-employed borrowers
No Closing Cost Jumbo Mortgage
No Title Costs
Appraisal Cost reimbursed at close
No Underwriting Fee
No Document Preparation Fee
If you live in Michigan and would like assistance in obtaining a Jumbo Mortgage, please contact us:
CatholicMortgage.org
17199 Laurel Park North
Suite 315
Livonia, MI 48152
(248) 935-8355
Helping families live better lives….
Contact: CatholicMortgage.org
http://www.catholicmortgage.org MI, US
James Finn - Executive Director, 248-935-8355
Keywords: Jumbo Mortgage Michigan
They are truly non-conforming mortgages because they exceed the conventional mortgage loan amounts allowed by Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), both of which are government sponsored businesses that invest in mortgages in the secondary market and set standards for the mortgage industry.
Because the number of Americans that can afford to have a Jumbo Mortgage is somewhat limited, so too is the market for such a home if in rare instances, the lender had to foreclose. As a result, there is more risk associated in granting a Jumbo Mortgage, which is off-set by a slightly higher rate than a standard conventional mortgage.
As specialists in Jumbo Mortgages, CatholicMortgage.org offers a full array of products and features so that your new mortgage is customized to meet your needs.
CatholicMortgage.org can also offer options to make it easier for you to get quick approval and get into your spectacular new home or enjoy the benefits of refinancing.
Here are just some of the special options and features CatholicMortgage.org can offer:
No Income/No Asset (NINA) Jumbo Mortgage
No income verification required
No asset verification required
No employment verification required
Available for salaried or self-employed borrowers
No Closing Cost Jumbo Mortgage
No Title Costs
Appraisal Cost reimbursed at close
No Underwriting Fee
No Document Preparation Fee
If you live in Michigan and would like assistance in obtaining a Jumbo Mortgage, please contact us:
CatholicMortgage.org
17199 Laurel Park North
Suite 315
Livonia, MI 48152
(248) 935-8355
Helping families live better lives….
Contact: CatholicMortgage.org
http://www.catholicmortgage.org MI, US
James Finn - Executive Director, 248-935-8355
Keywords: Jumbo Mortgage Michigan
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