Non-conforming loans or Jumbo loans are loans with higher dollar amounts which may not be sold to Fannie Mae or Freddie Mac. A Texas Mortgage that is above the conforming loan limit of $417,000 for the year 2010 is considered to be a Jumbo loan.
Non-conforming Texas Mortgage loans often come with a higher rate because they are considered a higher risk. If you work with a major Fannie Mae or Freddie Mac lender that sell a majority of their loans to Wall Street you will likely receive a higher rate on your Texas Home Loan.
However, if you work with a smaller Texas Home Mortgage lender you will likely receive a lower rate since these lenders hold loans on their own books. Also these lenders typically have more flexible terms since they are not selling their loans to Wall Street.
At MoneySafe.com we work with several local Texas Jumbo Home Loan lenders and welcome the opportunity to help you with your Texas Home Loan.