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Features of Jumbo Loans:
- Jumbos are designed to provide financing options for borrowers with loans above the conforming loan limits.
- The interest rates on jumbo loans are typically higher than conforming loans regardless of loan to value or income.
Benefits of Jumbo Loans:
- Provide financing option for borrowers that can afford higher than traditional conforming loan amounts and have great assets but do not wish to deplete their liquid assets by paying cash for the home.
- Jumbos typically provide financing options to qualified borrowers up to $2 million or more.
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