Mary Beth Rapice Comments on Jumbo Mortgages

While jumbo mortgages did not disappear when the housing market crashed, as Pullman & Comley Real Estate attorney Mary Beth Rapice explains, the requirements and risks have increased.

According to Mary Beth, "There is no (private mortgage insurance) with a jumbo mortgage, so the down payments are larger and, usually, the credit score can be no lower than 700. If you are going to apply for a larger mortgage amount, of course you're going to have to be able to show the income and the assets in order to pay that."

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