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Jumbo Mortgages No Longer the Cheapest Rate in Town

A jumbo mortgage – one that’s larger than Fannie Mae or Freddie Mac will later buy – presents a higher risk to lenders. Before the pandemic, banks considered these buyers more reliable and their rates were low, but the market now favors lower-loan borrowers. #floridacondotels #floridacondotelmortgage #floridacondotelfinancing

#floridacondotels #floridacondotelmortgage #floridacondotelfinancing

Rates posted assumes 25% down payment, and an ARM rate first mortgage on a Florida condotel, primary residence. Additional required amounts such as taxes, insurance, home owner association dues, assessments, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions
 
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