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Jason Diperstein's Answers

I asked this before and never got an answer, can someone please help with "Conforming Jumbo" ?
SageMister,This is a bit complicated but the easiest way to understand it is to break down the terms. Conforming means that Fannie and Freddie guidelines are met. Jumbo relates to loan size restrictions. The typical conforming loan limit is $417K, but some areas have higher limits. PMI relates to the...
Recently divorced..selling current home..splitting the money..Now I need a new home..Help
Hello Divorcee,You must first have proof that you will be receiving both alimony and child support for the next three years before those income sources can be used. Keep in mind that income is not the sole determinant for mortgage approval, make sure you have a handle on your credit scores and your...
My lender is asking if I want my tax impounded. What does that mean?
Bozorg,The answer above is correct, they're simply asking if you want them to create an escrow account to pay your taxes instead of you doing it directly. If you're not interested, make sure you ask if there is a difference in rate or fee for not escrowing. Many lenders suffer a hit to the...

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