Tags http://mortgagebible.org/tags/68 Fri, 05 Mar 2021 14:30:07 +0000 Joomla! - Open Source Content Management en-gb How to use a Piggyback Loan to avoid a Jumbo Mortgage or Mortgage Refinance? http://mortgagebible.org/mortgage-101/109-how-to-use-a-piggyback-loan-to-avoid-a-jumbo-mortgage-or-mortgage-refinance http://mortgagebible.org/mortgage-101/109-how-to-use-a-piggyback-loan-to-avoid-a-jumbo-mortgage-or-mortgage-refinance JUMBO mortgage or mortgage refinance (MMRF) loans are loans whose amount exceeds the limits defined annually by housing public sector entities (PSEs) such as Fannie Mae and Freddie Mac.

The disadvantage with jumbo MMRF loans is that they are costlier by 1/4 % to 1/2 % than 'conforming loans', i.e., loans that conform to the limits specified by the PSEs.

]]> How to use a Piggyback Loan to avoid a Jumbo Mortgage or Mortgage Refinance? Wed, 21 Dec 2016 13:19:14 +0000 Piggyback Loans, an alternative to Jumbo Loan http://mortgagebible.org/mortgage-101/100-piggyback-loans-an-alternative-to-jumbo-loan http://mortgagebible.org/mortgage-101/100-piggyback-loans-an-alternative-to-jumbo-loan Jumbo Loans

These are mortgage loans which are issued beyond the conforming limits set by the Federal Housing Enterprise. They are not normally purchased, guaranteed or securitized by institutions like Freddie Mac and Fannies Mae.

Because they are beyond the said limits they are listed on a high risk basis, which yields higher returns. However, currently the spread between jumbo loans and conventional mortgage loans have reduced.

]]> Piggyback Loans, an alternative to Jumbo Loan Wed, 21 Dec 2016 10:27:03 +0000