When you conduct a conventional high balance product comparison, you are saving thousands of dollars on the loan you choose. It is important to keep in mind a couple of things before you start comparison shop. A high balance loan is also known as a “jumbo loan.” They are loans greater than $417,000. Fannie Mae and Freddie Mac, two mortgage institutions that buy home loans for securitization, do not by jumbo loans from private lenders. That brings up why it’s so important to comparison shop; it gives you a chance to find a jumbo loan with the lowest interest rate.
Where to Start Comparison Shopping
With the amount of lenders who offer conventional loans, it may appear like an impossible task to find the perfect loan. However, all you need to do is begin your comparison with local mortgage companies and banks. Find out what type of rate and term jumbo loan each lender has to offer. This helps you to save plenty of money when you agree on a specific loan. If you are uncomfortable searching on your own, use the service of a reputable broker that guides you through jumbo loans.
Comparison Shopping with Centex Capital
You can start your search with us at Centex Capital, a New York based company that provides borrowers with the tools they need. We guide your through the entire process, and work with you to find the lowest possible rate. Jumbo loans can get extremely tricky with high interest rates and even higher down payments. We help you avoid paying high interest rates and down payments. We specialize in high balance mortgages, and offer you a chance to obtain the financing you need. Start comparison shopping today with us.
Contact us at (800)842-2910.