1) Jumbo rates are basically the same as regular rates in this area. Source: https://www.dcu.org/loans/mortgage-fixed.html https://www.dcu.org/loans/mortgage-fi

1) Jumbo rates are basically the same as regular rates in this area. Source: https://www.dcu.org/loans/mortgage-fixed.html https://www.dcu.org/loans/mortgage-fixed.html 2) We had the downpayment in cash. Selling the old house just let us replenish savings. Doesn't change the fact that it's possible to save 150k with two developers working (actually more, because we had previously saved for a down payment on our old house, and for extensive (100k+) renovations to our previous house). 3) I'm sorry you don't want an old house. Yes, they can have their problems, but so do houses of any age, including brand new ones. They also have charms that newer houses don't. It's a tradeoff. Newer houses are also available. The same day we first saw our house, we looked at another for around the same price built in the 70s a few blocks away (also in Medford). It needed a lot more work (a new kitchen) where our house was move in ready. Get an inspection and figure out if the problems are deal breakers for you. Expensive problems are part of the "joy" of owning a house.