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

Video Credit: Wochit News
Published on October 2, 2020 - Duration: 00:36s

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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