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Jumbo Mortgages: What is a Jumbo Mortgage and Why Have One?

Jumbo mortgages are mortgage loans that are higher than the normal mortgage loan limits. It is not an arbitrary figure, but one set by Fannie Mae and Freddie Mac for residential mortgages.  In most areas of the US, a jumbo mortgage starts at over $417,000. In the more expensive urban areas of San Francisco, Los […]

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Truth in Lending and Your Mortgage Loan

Truth in Lending was introduced in 1968 to ensure uniformity in the way that costs incurred in borrowing, such as a mortgage loan, are calculated and presented to the borrower. It should, in theory, enable consumers to compare the costs of various mortgage loan types and lenders in a consistent manner. Let’s take an example. […]

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