7 Ways Jumbo Mortgage Rates are Attractive for Buyers
There are many reasons you might want to consider a jumbo mortgage, and among the reasons for doing that are the great rates. Don't underestimate the importance of your interest rate, because it can make a significant difference in how much you pay for your jumbo loan. Not everyone wants to get a jumbo loan, of course, but for people who are buying property that needs a mortgage higher than $417,000, a jumbo loan is one of the few options they have.
What Happens When Your Loan Is Sold?
Once you close on the home, it’s common for your loan to be sold. Don’t worry, this doesn’t mean anything will change. Banks will often sell mortgages to other lenders to free up money. This can happen multiple times during the duration of your loan or not happen at all.