Recent Changes in Lending Guidelines

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05-15-2020 —  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. Read the full article here: https://www.sophierealestate.com/blog… Facebook: https://www.facebook.com/SiliconValle… Find out what your Silicon Valley home is worth: https://www.sophierealestate.com/cma/… Search all homes for sale now in Silicon Valley: https://www.sophierealestate.com/ ————————————————————————————————————————————- Sophie Shen Real Estate Team sophierealestate.com CalBRE#:01837259 NMLS#312283

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