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LInMI
LIF Adult
Member since 7/10 1802 total posts
Name:
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Jumbo mortgage
What's considered a jumbo loan in NY? Anything above $625,500 or $417,00.
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Posted 5/16/13 8:59 PM  |
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marianne13
LIF Adolescent
Member since 6/10 887 total posts
Name:
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Jumbo mortgage
A loan over $417k (assuming it's a single family) is something called a high limit conforming loan. The rate is usually .25% higher than if you took out a loan for under $417k.
I think the jumbo loans are much higher..maybe it's $625k but I'm not positive.
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| Posted 5/16/13 11:34 PM |
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