The phrase "jumbo borrowers" refers to people who are borrowing a large amount of money, typically for buying a house or property, which exceeds the maximum limit set by government-sponsored mortgage organizations. Full definition
This particular loan program has additional special features, making it a unique opportunity for jumbo borrowers. (centralcoastlending.com)
However, many jumbo borrowers will leverage the lower rate offered on an ARM to pay their loan balance down at a faster pace. (uhloans.com)
At Veterans United, we currently require jumbo borrowers to have the greater of two months of reserves or the number determined by the automated underwriting system used to evaluate your loan file. (veteransunited.com)