How To Get A Jumbo Loan Without Putting Down 20% | MoneyTips – After the housing crisis, jumbo loans became even riskier propositions for both lenders and buyers, and the standard 20% down payment became a necessity for securing a jumbo loan. More traditional loans with government backing were still available at lower down payment levels.
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A jumbo mortgage loan is for the times when a regular mortgage doesn't go far. Now, you can get away with putting down 20%, or even 10%.
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After the housing crisis, jumbo loans became even riskier propositions for both lenders and buyers, and the standard 20% down payment became a necessity for securing a jumbo loan.
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Get started. Interest rate and program terms are subject to change without notice. A jumbo mortgage loan is for the times when a regular mortgage doesn’t go far. Now, you can get away with putting down 20%, or even 10%. Jumbo Loan Without a 20% Down Payment – Jumbo Mortgage Source – Jumbo Loan Without a 20% Down Payment.
No bank wants to increase their risk to the levels of the housing crisis, so a jumbo loan with less than 20% down will come with limitations. Extra restrictions are required since the private mortgage insurance (PMI) that is necessary on Fannie and freddie mortgage-backed loans with lower than 20% down payments are not mandatory on jumbo loans.