Simple Debt-Free Finance

A Simple Approach to Getting Out of Debt & Into Wealth

With jumbo home mortgages, it’s all local.

Posted on | July 10, 2009 |

Real estate, as the saying goes, is local. So it is with jumbo mortgages.

Rates on a jumbo mortgage are 1 1/2 % higher than smaller loans, but what classifies a loan as jumbo is different from place to place. Generally, a mortgage is considered jumbo if the loan amount is over $417,000 to $729,750.

Seattle.

Jumbo rates in Seattle, WA start at $567,500.

Montgomery.

Buy a house over $417,000 in Montgomery, AL and you’ll be getting a jumbo.

South Salem.

Housing prices in South Salem, N.Y. are high. Jumbo rates here don’t kick in until $729,750!

West Hartford.

West Hartford, Ct seems pretty reasonable at $440,000.

Stevenson Ranch.

Jumbo rates on mortgages in Stevenson Ranch, CA don’t start until $729,750.

Eden Prairie.

Eden Prairie, MN rounds out our list at $417,000 as the jumbo threshold.

It’s easy to look at these price levels and think that Eden Prairie and Montgomery are the ideal, but when looking at jumbo mortgages, lower isn’t better. Of course, the flip side is that places like South Salem and Stevenson Ranch have higher costs of living, and in turn higher housing prices so you don’t get as much house for your money in those places.

Bookmark and Share
Related Posts Related Websites
Category: Economy
Tags: >

Comments

Leave a Reply





  • Search

  • Get Updates

    Subscribe in NewsGator Online
    Add to Technorati Favorites

  • Recent Comments

  • Tags

  • Contact

    If comments aren't enough, feel free to contact me at:

  • Frugal Hackers badgeMoney Hackers Network
    RSSMountain On our way to 1,000,000 rss feeds - millionrss.com Blog directory
    Investing Blog Directory RSS Search Blogged.com hihera.com

  • Blog Catalog Visitors

  • Disclaimer

    The information and opinions provided on this site do not constitute professional advice. This blog is intended to provide general information only about the author's own personal financial journey. While all information shared here is believed to be accurate, the owner/operator of this website specifically disclaims all warranties expressed, implied or statutory, regarding the accuracy, timeliness, and/or completeness of the information contained herein. You are advised to discuss your specific requirements with an independent financial adviser. All posts are © 2008-2011, Simple Debt Free Finance.

  • Unique visits since 2008:

  • ss_blog_claim=f34d742cbb91cfd8bb6b4f0e010113be ss_blog_claim=f34d742cbb91cfd8bb6b4f0e010113be

  • Useful Links: