Government-backed jumbo loans can be less expensive

jumbo1By Anya Martin | The Wall Street Journal

Homebuyers trying to purchase a pricey property will probably need a jumbo loan—a mortgage that exceeds government limits. But there are different types of jumbos, and some are a little easier and cheaper to get than others.

But first, a handy breakdown for those befuddled by the confounding terminology of the mortgage business:

Continued:

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