FAQ About Our Jumbo Mortgage Loans
Question: What’s the difference between a jumbo mortgage loan, a super jumbo loan, and traditional mortgage loans?
Answer: Traditional mortgage loans are smaller loans than jumbo and super jumbo mortgages. Each loan offers different benefits to the borrower. You can learn more about the difference between traditional loans and jumbo/super jumbo mortgage loans here.
Answer: Mortgage refinancing involves reassessing loan terms. Many individuals seek a mortgage refinance to obtain a new loan with a better interest rate. Check out our current featured jumbo mortgage refinance programs here.
Question: What is an interest only jumbo mortgage loan?
Answer: Interest only jumbo mortgage loans are mortgage loans that have an initial period of time where the borrower only pays interest on the loan. This period is followed by a period of payments where the borrower must pay the interest of the loan on top of paying down the loan itself. You can learn more about our interest only jumbo mortgage loans here.
Question: What is a fixed term jumbo adjustable rate mortgage (ARM) loan?
Answer: Fixed term jumbo ARM’s are jumbo mortgage loans with an initial fixed interest rate period followed by a flexible interest rate period that is determined by a third party index. You can learn more about fixed term jumbo adjustable rate mortgages here.
Question: I’m confused by mortgage terminology, where can I learn about mortgage terms?
Answer: Mortgage Base has provided a convenient glossary of home loan terms here. If you’re further curious about the lingo and jargon surrounding the world of mortgages, feel free to get in touch with a Mortgage Base representative.
Have any other questions? Feel free to email us or give us a call to learn more about our jumbo loans and other mortgage products.