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Are you ready to buy your dream home over $454,000? Well, the time to do that is now. If you are looking to buy your mansion in South Carolina, North Carolina, Georgia or Tennessee, Mortgage Options, Inc. is excited to offer a new mortgage product tailored to those looking to purchase homes between the values of $453,101 and $679,650.<\/p>\n
Introducing the Conventional High Balance Mortgage from Mortgage Options, Inc. This new mortgage product allows homebuyers to borrow up to $679,650 with the same guidelines as a conforming conventional loan instead of having to opt for a jumbo loan. Let\u2019s take a look at both of these high balance loan options.<\/p>\n
Previously, homebuyers looking to buy a one-family house over $424,000 were unable to do so with a conforming conventional loan from Fannie Mae or Freddie Mac. Jumbo loans were your only option, and their guidelines are much stricter than a conforming conventional loan. <\/p>\n In order to qualify for a jumbo loan, it usually takes a lower debt-to-income ratio, higher credit scores than other kinds of loans and a larger down payment. Also, emergency funds (reserves) must be higher than for standard kinds of loans. <\/p>\n Our new conforming conventional loan allows homebuyers to borrow between $453,101 and $679,650 without the strict guidelines of a jumbo loan. Benefits of this new loan product include:<\/p>\n
\n<\/strong><\/p>\nJumbo Loans<\/strong><\/h2>\n
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\n<\/strong><\/p>\nWhat makes jumbo loans different?<\/strong><\/h3>\n
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\n<\/strong><\/p>\nNew High Balance Conforming Conventional Loan<\/strong><\/h2>\n
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