Tuesday, May 21, 2013

Minnesota Jumbo Mortgages Available with only 10% Down Payment

Home prices are on the rise nationally, including areas like Minnesota. This will allow many Minnesota home buyers to move up to more expensive homes where they will need a jumbo mortgage loan. A jumbo loan in Minnesota is any loan that exceeds $417,000. Minnesota jumbo mortgages have never been more competitive than they are right now. As an example, one jumbo mortgage lender has recently introduced a 10% down loan program for home prices up to $850,000.

There are many towns and communities throughout Minnesota with median prices in excess of $500,000. The top six most expensive communities throughout Minnesota are Orono (55391), Prior Lake (55372), Edina (55424), Victoria (55386), Minnetrista (55364), and Minneapolis (55410).

If you’re looking for a jumbo mortgage loan in Orono, Prior Lake, Edina, Victoria, Minnetrista or Minneapolis now is a fantastic time to secure one of the lowest interest rates in history. With interest rates so low and options to put less money down on a home, homeowner’s can maximize their borrowing power.

United Home Loans provides jumbo mortgage loans in Illinois, Indiana, Michigan, Minnesota and Wisconsin.

Minnesota Mortgage Rates
MN 30 Year Jumbo mortgage as of May 21, 2013 4.000%/4.013 APR
MN 15 Year Jumbo mortgage as of May 21, 2013 3.125%/3.151 APR

Please click this link for APR assumptions and more MN mortgage rates

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