Get A Jumbo Loan. Sometimes Its Cheaper!

I find this very interesting.

The 15 Year Conforming APR Rate is 3.376% at a local credit union.

The 15 Year Jumbo APR Rate is 3.250%.

What does this mean?

It means for those homes which are priced close to the conforming maximum for your county, you could buy a more expensive home and PAY LESS on your mortgage payments!

The rates below were valid on November 15, 2019. But I have also seen where the 30 Year Jumbo Fixed Rate loan's rate was less than the 30 Year Conforming Loan rate too.

Usually the jumbo loan rates will be higher, since you are borrowing more money which is viewed as a higher risk to the bank.

Buyers need to be aware of this situation as you can buy MORE home for LESS monthly payments!

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