Private jumbo mortgages can be a great alternative to traditional jumbo mortgages. The advantages to a good no doc jumbo mortgage program is a) A lot less hassle to get, b) Virtually no documentation except for proof of the required deposit, and c) A non-invasive jumbo loan, d) None of those stringent debt ratios which could keep you from buying that dream home. The disadvantages are usually 1) A bit higher rate, and 2) Discount points. So it’s best to weigh the pluses and minuses before you apply.
October 20, 2009
2 Comments »
RSS feed for comments on this post. TrackBack URL
How do we begin to predict what the housing market will do? No offense, but everybody was wrong about it just a fewyears ago, so why do we think it will be better in the future? Just because housing is cheaper and mortgage rates are lower? Unemployment is still a serious problem. Not to mention, the debt our country seems to accumulate every day. I personally think renting is the best option right now.
Comment by Booker Smoke — May 28, 2010 @ 12:02 am
I was very impressed and felt had to get a valuable experience after reading your article. I will learn more and I’ll try to implement. thanks for sharing
Comment by Modesto Felkel — August 15, 2010 @ 10:37 pm