Everything you need to know about home loans in one place. Use our "frequently asked questions" section to learn everything about mortgages, refinancing, home equity lines of credit and more.
As a future homeowner, choosing the best mortgage for you is like choosing the best career path: there are tons of options, but only a handful that you’ll qualify for, and even fewer that will really make you happy. The good news is that by asking yourself which mortgage is best for you, you’re already thinking like a savvy consumer -- you recognize that you have a choice between many different mortgage products, and it’s just a matter of narrowing them down.
Read MoreA 20% down payment (the standard for conventional loans) is often required for a jumbo loan -- but this isn’t always the case, and some borrowers may be able to obtain loans with down payments as low as 10-15%.
Read MoreWhile things have loosened up since the first few years after the crisis, requirements are still a bit stricter, and most potential jumbo loan borrowers should expect to make at least a 15% down payment. They should also carefully record and document their income. Plus, they may have to be okay with getting an adjustable rate loan, and making sure that their monthly payment does not exceed 38% of their income before taxes.
Read MoreA jumbo home loan is a loan that exceeds a specific amount, called the conforming loan limit. The conforming loan limit is actually calculated by county -- not by state, so depending on where exactly you live, you could face a different conforming loan limit. For most U.S. counties, the limit is set at $453,100, a nice increase from 2017’s $424,100.
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