A jumbo loan is any loan over $417,000. We now allow as little as 5% down depending on the loan amount. Call us today to find out more – (954) 903-7256!
A jumbo mortgage is any loan amount over $417,000 in Broward, Palm Beach, and Miami Dade Counties. Right now you can get away with as little as 10% down depending on the loan amount.
The Wall Street Journal had a great article about “Whats Ahead for Jumbo-Loans Borrowers in 2016.” It goes on to talk about with a down stock market you could see rates get even lower and as I say time and time again, every 1% increase in an interest rate reduces your buying power 11%.
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.
If you are looking to buy or even thinking about buying a property in Fort Lauderdale or South Florida now is the time to do it. Jumbo interest rates are lower than Conventional interest rates right now.