Recently, the guidelines for lending have changed.
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Today I’m updating you about the recent changes in lending guidelines. If you got a pre-approval a couple of months ago, you’re looking for a home here in Silicon Valley, and you have a jumbo loan, you especially need to pay attention to the recent changes. First, down payment requirements have increased. Remember, a jumbo is any loan over $510,000. Before, you could put down 10% to 15% for a jumbo loan, but now the minimum down payment requirement is 20%. To learn what else has changed in the lending world, watch my latest video above.
