Comment on Jumbo Mortgages 101

Jumbo Mortgages 101

When you hear the phrase “jumbo mortgage,” you might think it means a home loan that’s really, really large. And you’re right — to a point. But it’s a little more complicated than that. Let’s back up. Who’s loaning you the money, really? When you buy a home, you’re generally borrowing money from a financial institution — but the lender doesn’t necessarily hang onto that loan after you close the deal.

 

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