 TITLE: What Is a Jumbo Loan? CONTENT: When Should Jumbo Loans Be Avoided?\n-----------------------------------\nYou may want to avoid a jumbo loan if you doubt your ability to meet its stiff qualification requirements. In addition, if you feel you may need to resell the property quickly at some point in the future, you may want to consider how energetic the local real estate market is. If the market is slow, or if the property is vastly more expensive than most neighboring properties, it may prove difficult to resell. Even in vigorous markets, potential buyers will likely be subject to the same lengthy mortgage-vetting process you'd have to go through as a buyer, and that can lengthen the amount of time required to complete the sale.\nQualifying for a jumbo mortgage can be a daunting process, and the loan will likely be costly in terms of interest rates and fees even for applicants with very good credit. If your sights are set on an exceptionally expensive property, and you have the means to qualify, a jumbo loan may be the best option for financing your dream home. END