Are you looking to buy a bigger home? If you are looking to make the move a jumbo mortgage might be right for you.

A jumbo mortgage is a home loan with an amount that exceeds conforming loan limits set by the Office of Federal Housing Enterprise Oversight (OFHEO) or better known as Fannie Mae and Freddie Mac. Currently, the loan limit is $417,000 in most parts of the United States, but can increase to $625,500 in the higher cost areas. OFHEO sets the conforming loan limit size on an annual basis.

Jumbo loans have slightly higher interest rates because they carry more credit risk.

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INCREDIBLE VALUE for this beautiful 5 bed, 3.5 bath home located in the desirable neighborhood of Brookmeadow Village! From the moment you walk in the door, you are greeted by gleaming hardwood floors that grace the first floor. The cabinet packed kitchen has upgrades galore including high end appliances, a gas cooktop with custom hood, tile backsplash, & granite counters. Step down into your great room which boasts cathedral ceilings and a gas fireplace. Your expansive master suite awaits you with beautiful built-in’ s, a large walk-in closet, & lavish master bath with a soaking tub, his & her vanities, and custom tile shower. 3 more bedrooms & another full-bath complete the upstairs. A finished basement, complete with kitchen, bedroom, living area, & bath, makes this home perfect for in-laws, au pair suite, or that ultimate man-cave! Step outside to a beautiful backyard with open space, trails, and an over-sized deck and patio.

This is a Colonial/Contemporary style home and features 11 total rooms, 3 full baths, 1 half bath, 5 bedrooms, 0.60 Acres, and is currently available for $599,900.

For complete details click here.

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