Not sure if you need a jumbo loan?
Jumbo home loans are designed for individuals who wish to purchase a home that exceeds the $417,000 loan limit set by Fannie Mae and Freddie Mac.
These non-conforming loans, or jumbo home loans, are not federally insured and are sold in a private market. When shopping for a loan in a private market, interest rates and terms will vary drastically since they do not have to comply with regulations set by Fannie Mae and Freddie Mac. The more confident a lending source is about the risk associated with your loan the lower the rate will be.
Because there are so many variables involved with jumbo loans, it is crucial that you work with an experienced mortgage company to help you navigate the process. Lucey Mortgage Corporation is the Biggest Little Lender in South Carolina and will do all the shopping and comparing for you!
Find out if a jumbo loan is right for your situation today, click here to get started or call 843-884-8133.