So why is a home loan in the mid $400's considered a jumbo loan? Each year, a new "conforming loan limit" is published by Fannie Mae and Freddie Mac. The conforming loan limit, or "jumbo loan amount" is determined every January. The 2006 jumbo loan limit for single-family homes and condominiums is $417,000.

A mortgage — whether it's a home purchase, refinancing, or home equity loan — is a product just like a car. So, the price and terms may be negotiable. Shopping, comparing, and finding your way to Bankers Group may have saved you thousands of dollars.

Bankers Group is a mortgage broker center. As brokers, we arrange transactions rather than lending money directly. In other words, we find a lender for you. Our access to several lenders translates to a wider selection of loan products and terms from which you can choose.

Maybe you were searching the Internet for a way to refinance your existing home loan. Because refinancing involves many of the same steps you followed to get your current mortgage, the refi road may seem familiar. You may, however, face a few additional steps and different types of expenses.

To refinance means paying-off your current mortgage and taking out a new loan.

Homeowners opt to refinance for a multitude of reasons to refi, but the most common reason is obtaining a lower mortgage interest rate to lower monthly payments. However, some other popular reasons to seek out a refinancing solution are building equity faster, changing a loan type to taking advantage of an improved credit rating or drawing on already built equity in the home.