Friday, June 2, 2017
In Chicagoland, a mortgage that exceeds $424,100 is considered a Jumbo, or nonconforming, Loan. Jumbo Loans are available for primary residences, second homes, and investment properties in a variety of terms, including fixed and adjustable rates. While the mortgage process for a Jumbo Loan is similar to a conforming loan, the approval requirements are a bit different.
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