If I'm looking at $500,000 range homes will i have to get a jumbo mortgage

you can check using this FNMA lookup tool https://commlend.efanniemae.com/LoanLimitGeocoder/pages/Online.aspx

In the conventional mortgage world anything thing above $417,000 is considered a Jumbo loan. Feel free to contact me to discuss your loan options, I've been serving the Tampa Bay area for over 12 years now.

If your loan is over $417,000 in 99% of the country, that is a jumbo mortgage. There are a few areas in FL that are high cost areas and go higher. Use the tool at http://joemetzler.com/fhalookuptool.htm to look it up. Under limit type, select Fannie/Freddie

Conventional loan limits are $417K, so any LOAN amount over that is considered Jumbo.. if you purchase a home that's $500K, but you put $83K down, your within the conventional loan limits, and no jumbo financing is required.. If you have the means to put this much down, your better off, since jumbo loan pricing is higher than conventional. Also, with jumbo, there are no set of "Conforming" guidelines.. every lender that offers jumbo financing can/will have their own set of rules and guidelines making it difficult to zero in on the best loan product for your situation without shopping multiple lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Not if you're going to have a loan amount less than $417,000. If you need a loan amount higher than that, you can also have a 1st and a 2nd mortgage. Jumbo fixed rates are very competitive right now, so I wouldn't let a Jumbo loan scare you off. Please let me know if there's anything I can do to help you out! My number is 954-234-7873. I'll look forward to speaking with you soon!John HuntCTC Mortgage Co., LLC

Anything over $417,000 would be considered a Jumbo Loan, but you may be able to find a lending source with a 1st Mortgage at 80% Loan to Value and get an Equity Line behind that as a 2nd Mortgage for 10%, thus making just a 10% total down payment. If a Jumbo Loan Lender requires 20% Down, your loan really will not be considered Jumbo anymore, so you can shop conventional loan programs. If you take a loan of $417,000 out against your $500,000 purchase price, your LTV will be around 83% which will cause you to have Mortgage Insurance in your loan, so it is best to keep the LTV at 80% or lower. Using the Combo 1st & 2nd (if that is an option) will provide another way to get a higher loan amount and avoid MI. Good Luck!