Jumbo mortgage rates are at 25-year lows , beating interest rates on traditional, conforming loans. At first glance, that doesn't make sense because jumbo loans are for expensive homes.
Jumbo loan rates are very close to conforming loan rates in many markets, making bigger, more expensive homes more affordable while allowing buyers to stay within their budget.
Need a jumbo mortgage but you don't want to pay a jumbo mortgage rate? You might consider a piggyback loan.
Can you get a loan modification on a jumbo mortgage? The answer is yes, but there are some significant differences from getting a mortgage modification on a conventional loan.
They say that bigger is better. And that adage may be true with respect to jumbo mortgage loans. With a jumbo mortgage, you generally get a bigger home, bigger debt balance, and bigger monthly payment.
