A jumbo mortgage is a mortgage loan which is larger than the limits set by Fannie Mae and Freddie Mac ($322,700 as of 1/1/2003). Since these two agencies will not purchase these types of loans, they usually carry a higher interest rate (to enhance their value and marketability to investors).
© Copyright 2004 All rights
reserved.
Read privacy statement.
Mortgage Lending
Consultants
6401 Poplar Avenue, Suite 270, Memphis,
TN 38119
Tel: (901)870-3129, Fax:
(901)328-1575
support@homeloansmemphis.com
Powered by Pilot Group Mortgage Solution © Pilot
Group Ltd |
