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Jumbo loans were people wanting more than they could afford and the bank hedging that they could actually afford it. Ends up that they can't.
by eikenberry 7y ago
Jumbo loans were people wanting more than they could afford and the bank hedging that they could actually afford it. Ends up that they can't.
- abofh 7y agoI don't think those words mean what you think they mean.
- dbish 7y agoJumbo loans are just loans over a certain number, nothing to do with how much you can afford to pay for a house. I put 20% down (and could have put down more, but the bank rates were pretty good so the better move was to keep investing the extra money) and still got what was considered a jumbo loan because even with 20% down I had to borrow > 750k.