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What Is a Jumbo Loan? – There, jumbo loan reserves (also known as post-closing liquidity) need to be set aside by the homebuyer, usually equal to up to 12 months of home payments (the higher the borrower’s credit score and.
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Advantages to buying a house with no money down The obvious benefit to buying a home with no money down is it makes homeownership accessible to people with limited cash reserves. You may be a well-qualified home buyer with good credit, but just can’t quite come up with a significant down payment.
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3 Questions To Ask To Determine If A Jumbo Loan Is Right For You – Then, think about how much you’re prepared to spend on your new home. If your anticipated. should be prepared to make at least a 15% down payment. Does this payment work in my budget? No matter.
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