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IN THE NEWS: Mary Beth Rapice Comments on Jumbo Mortgages

Bankrate.com
July 9, 2012

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."

To read the full Bankrate.com article, please click here.