JUMBO MORTGAGES: WHAT THEY ARE AND HOW THEY WORK

Loan Amount: This is the total amount of money you borrow from the lender. It can vary based on factors such as the price of the home and the borrower’s ability to repay.Interest Rate: The interest rate is the cost of borrowing, expressed as a percentage of the loan. It can be fixed or variable, as mentioned earlier.Loan Term: The term of the loa