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Buyers should not be scared off from higher jumbo mortgage rates; jumbo mortgage rates are higher only by a quarter of a point or so for well qualified buyers. Whats more, jumbo mortgages are the only option for home buyers in many parts of the country because $417,000 really isnt that high a price in todays housing market.

As a matter of fact, jumbo mortgage loans are the only type available in many areas. The best way to find a good jumbo mortgage loan is the find a reputable and experienced lender with good rates. A great mortgage lender will take the time to understand your needs so they can help you select an appropriate product.

Mortgage brokers are blossoming in the current environment and are gaining an increasing share of the mortgage market. This is great news because you should consult with a mortgage professional when you're making one of the most important financial decisions of your life. But, keep in mind, that not all mortgage brokers have the same level of training and experience.

Not so fast. That rate may not be the one for you. Typically, the lowest available rate - and the one that makes the rate sign look great from the street - will be for a variable or adjustable-rate mortgage. That rate has the potential to be like a roller coaster. The posted variable or adjustable rate is the rate you're getting today. Unless you have an economic ouija board, you won't be able to predict what kind of ups and downs are ahead of you.

The size of a jumbo mortgage loan means there is more to lose. The size, coupled with other factors, results in somewhat higher jumbo mortgage rates than those carried by conforming loans.

When a customer is willing to take on the risk, he/she is rewarded with a lower rate. If the lender is taking on the risk (that is, the customer is promised a particular rate... regardless of what happens in the future), the rate is higher. The longer the term, the higher the risk for the financial institution.

So how do you decide? Fixed-rate mortgages, because they require a low risk tolerance, are usually better suited to first-time buyers or those who haven't owned a home for a very long period. Ask yourself these questions:

Also, buyers shopping for good jumbo mortgage interest rates need to consider their goals, plans, and all of their options. Like conforming mortgages, jumbo mortgages are offered in a variety product lines.

A variable or adjustable-rate mortgage is best suited to people who have a flexible budget and can tolerate higher risk.

Ask yourself these questions: Do you watch market conditions? Can you handle any sudden rate increases that could increase your payment? Do you have 25% or more equity in your home? If you answered "yes" to all, or most of these questions, a variable or adjustable-rate mortgage might best suit your needs.