As the housing market picks up and banks are increasingly willing to lend, more homebuyers are applying for mortgages. That includes jumbo mortgages — loans above $625,000 in expensive markets like the Bay Area and New York. These loans are too big to be backed by Fannie and Freddie. But to get a jumbo loan you’re going to need some very good credit.
Jumbo loans are coming back in vogue
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