Here is a great article from Credit.com on “Should You Ever Pay Cash for a Home?” The first question someone always asks us when looking into a mortgage is “what is your rate?” It’s not about the lowest rate but what is the lowest cost product.
Interest rates have risen to highs for 2015 over the past 2 weeks. Many are predicting rates to continue to increase. The bottom line is that no one knows what they will do.
You can get away with putting as little as 10% down on a jumbo loan up to certain loan amounts. A jumbo loan is any loan greater than $417,000.