Question by pinky: What is this new conventional home loans with20% down 729,000.00 (?) loan from a bank with fix rate of 6%?
I just heard this few days ago…how does this work and how long is this good for? WHis is the creteria on this term? any advantages?
the 6% fix int. rate for 30 years sounds so good to be true….
Best answer:
Answer by Noneya
It’s the conventional jumbo loan for high cost areas only and the rate could be as low as 5.75% on a 30 day lock depending on your credit score. You may also want to look at an FHA jumbo with only 3.5% down and a rate of around 5.5%.
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