Home loan: Line of credit that’s designed specifically for individuals or couples that intend to purchase an apartment or house.
A jumbo loan is meant for home buyers who have to borrow a lot more than $647,200 to get a home. Jumbo loans are not sponsored by Fannie Mae or Freddie Mac and they typically have stricter credit score and debt-to-income ratio requirements. A mortgage is a kind of loan that you can use to…