Enjoy Stable Mortgage Payments on a Larger Home

Posted March 15 2017
by PenFed Team
Altext

If you’re considering purchasing a larger or more expensive home, knowing that you have your payments locked-in for the long term can give you some security in your financial planning. A 30-Year Fixed Jumbo Mortgage may be the perfect choice in this scenario.

The 30-Year Fixed Jumbo Mortgage is similar to a regular 30-year fixed loan with stable mortgage payments for the life of the loan. The jumbo also allows you to borrow more than the normal limit of $424,100 (in most counties). That can make a bigger home, or one in a more expensive neighborhood, a more realistic option.

Jumbo loans have stricter qualifying criteria, but if you are looking to keep your payments the same while still purchasing the house of your dreams, this can be a perfect choice.

Visit our Mortgage Learning Center for more helpful tips and guidance.