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1). How Do People in Southern California Afford Mortgage Loan Payments for Million Dollar Homes? By : Maria Nyce
Any loan amount above these conforming loan limits is considered a jumbo mortgage, and any amount over $650,000 is considered a super jumbo loan. "Once again, although the new conforming loan limits will help some home buyers qualify for a lower-cost loan, they do not go far enough to benefit most home buyers in California," said Jim Hamilton, president of the real estate trade group.
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