Super Conforming/High Balance Mortgage loans are above the conforming limit of $417,000 and below the Jumbo floor of $625,000. The high limit may be lower based on the zip code where the property is located.
Super Conforming/High Balance Mortgages can be fixed rate or adjustable rate loans.
The benefit of a fixed-rate Super Conforming/High Balance Mortgage is that the homeowner will not have to contend with varying loan payment amounts that fluctuate with interest rate movements.
There is typically a trade-off when it comes to choosing a mortgage between risk and reward, or between an adjustable-rate mortgage and a fixed-rate mortgage.
Mortgage borrowers need to understand and measure risks when deciding between an adjustable-rate and fixed-rate mortgage.
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