5% Down Jumbo Mortgage – What you Need to Know – Believe it or not, there are jumbo mortgage loan programs offered in the greater chicago market that only require 5% down. And perhaps even more unbelievable, these loans are offered at very competitive and affordable interest rates.
Conforming Home Loan A conventional mortgage is a conforming loan because it meets the standards set by Fannie Mae and Freddie Mac. A conventional loan is not a Government backed mortgage such as FHA, VA, USDA, and FHA 203k Loans. These mortgages are offered by private mortgage lenders and are usually sold to the largest buyer of mortgages, Fannie Mae and Freddie Mac.
Most Mortgage Rates Ease to Start the Week – Most mortgage rates decreased to start the week by about 3 to 4 basis points (a basis point equals 1/100 of a percent), with two fairly drastic exceptions. The 30-year fixed jumbo loan skyrocketed..