WAFCU Network

Many people dream of living in luxury homes that are designed to fulfill their every need.  Typically, across the continental US if you own or are looking to purchase a home that is over $400,000 you will be subject to Jumbo Mortgage Rates.  This means that you will have to pay more fees to cover the risk the bank takes in issuing you a large loan.  Generally speaking, you will have to be prepared to make a 5% higher down payment, which in an 80/20 equity mortgage means you will have to pay almost 25% of what the home is worth in order to secure a mortgage.

This entry was posted on Sunday, November 30th, 2008 at 11:24 am and is filed under Home.