{"id":391,"date":"2016-12-23T20:30:47","date_gmt":"2016-12-23T20:30:47","guid":{"rendered":"http:\/\/marioshomenews.com\/?p=391"},"modified":"2016-12-23T20:30:47","modified_gmt":"2016-12-23T20:30:47","slug":"miami-jumbo-home-loans","status":"publish","type":"post","link":"https:\/\/marioshomenews.com\/?p=391","title":{"rendered":"Miami Jumbo Home Loans"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div id=\"attachment_392\" style=\"width: 310px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/marioshomenews.com\/wp-content\/uploads\/2016\/12\/Screen-Shot-2016-12-23-at-3.05.26-PM.png\"><img decoding=\"async\" aria-describedby=\"caption-attachment-392\" class=\"size-medium wp-image-392\" src=\"http:\/\/marioshomenews.com\/wp-content\/uploads\/2016\/12\/Screen-Shot-2016-12-23-at-3.05.26-PM-300x195.png\" alt=\"Miami Jumbo Home Loans\" width=\"300\" height=\"195\" srcset=\"https:\/\/marioshomenews.com\/wp-content\/uploads\/2016\/12\/Screen-Shot-2016-12-23-at-3.05.26-PM-287x186.png 287w, https:\/\/marioshomenews.com\/wp-content\/uploads\/2016\/12\/Screen-Shot-2016-12-23-at-3.05.26-PM-300x195.png 300w, https:\/\/marioshomenews.com\/wp-content\/uploads\/2016\/12\/Screen-Shot-2016-12-23-at-3.05.26-PM.png 572w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-392\" class=\"wp-caption-text\">Miami Jumbo Home Loans (image from CNN)<\/p><\/div>\n<p>&nbsp;<\/p>\n<h2>Origin of the term \u201cjumbo mortgage\u201d<\/h2>\n<p>According to Zillow, &#8220;Jumbo mortgages are also called non-conforming mortgages. These types of loans are made when you don\u2019t \u201cconform\u201d to the requirements of Fannie Mae and Freddie Mac. \u00a0Fannie and Freddie provide stability and affordability to the mortgage market. \u00a0They do this by buying \u201cconforming\u201d mortgages from lenders.&#8221; \u00a0This provides liquidity to make more mortgages.\u00a0Loans higher than these limits are called jumbo mortgages.<\/p>\n<p>&nbsp;<\/p>\n<h2>So what makes it a Jumbo Loan?<\/h2>\n<p>The current \u201cconforming\u201d loan limit for a single-family (primary or second) home in Miami is $417,000. This is set by Fannie Mae. When your mortgage goes beyond this level in Miami, it becomes a Miami Jumbo Home Loan. \u00a0Additionally, Jumbo Loans are available to you with both Adjustable and Fixed Rates. \u00a0Because of this, your interest rate will be slightly higher than conforming loans.<\/p>\n<h2>What makes it different than a conforming mortgage?<\/h2>\n<p>When you purchase a more expensive home, you incur more risk \u00a0. As a result, your property values are subject to greater fluctuations. \u00a0This will then require more conservative underwriting requirements.<\/p>\n<p>Because of this higher risk, the average Jumbo Loan borrower has a better credit history. \u00a0They also have more stable income and higher reserves than a conforming buyer. \u00a0Higher reserves come in the form of more liquidity, assets and cash on hand.<\/p>\n<p>&nbsp;<\/p>\n<h2>Why Work with Mario Quintero<\/h2>\n<p>Do you think you qualify for a Miami jumbo home loan? Mario Quintero, principal of <a href=\"http:\/\/www.stcloans.com\">Strock and Tanner Mortgage<\/a>, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker. Don\u2019t attempt to negotiate on the purchase of your home on your own. \u00a0Mario helps you reach the best price through his extensive negotiating skills.<\/p>\n<p>&nbsp;<\/p>\n<h2>Get in Touch with Mario<\/h2>\n<p>I\u2019m <a href=\"http:\/\/www.stcloans.com\/LoanOfficers.php\">Mario Quintero<\/a>, your mortgage &amp; realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.<\/p>\n<p>Call me today at 305-598-1600 or <a href=\"http:\/\/www.stcloans.com\/MessageUs.php\">contact me here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; Origin of the term \u201cjumbo mortgage\u201d According to  [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,49,121,114,47,103,7,1],"tags":[58,23,81,90,52,123,115],"class_list":["post-391","post","type-post","status-publish","format-standard","hentry","category-loan","category-miami-home-loans","category-miami-jumbo-home-loan","category-miami-jumbo-mortgage-loan","category-miami-mortgage-broker","category-miami-realtor","category-mortgage","category-real-estate","tag-florida-mortgage-broker","tag-jumbo-loans","tag-maimi-real-estate-broker","tag-miami-home-consultant","tag-miami-home-loans","tag-miami-jumbo-mortgage","tag-miami-jumbo-mortgage-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Miami Jumbo Home Loans - Mario&#039;s Home News<\/title>\n<meta name=\"description\" content=\"Miami jumbo home loans are made when a borrower doesn\u2019t \u201cconform\u201d to the guidelines of Fannie Mae and Freddie Mac. 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