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Remember Jumbo Loans? They're Still Around, But They're Not Easy To Get

Video Credit: Wochit News - Duration: 00:36s - Published
Remember Jumbo Loans? They're Still Around, But They're Not Easy To Get

Remember Jumbo Loans? They're Still Around, But They're Not Easy To Get

Popular in the runup to the housing bust of the Great Recession, a jumbo loan is a mortgage for more than the borrowing limit for regular mortgages.

At present, jumbo loans are for mortgages over $510,400 in most parts of the US, and over $765,600 in pricey areas like Alaska, Guam, and the US Virgin Islands.

According to Business Insider, jumbo loans can be had--but not easily.

Downpayments are typically higher, as are the loan rates.


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