Jumbo Mortgage Rates Vs Conforming

what is a jumbo loan in texas Purpose Vs Non Purpose Loan Two Little Words with a Big Compliance Punch: Purpose and. – Purpose. For each application, the lender must determine the purpose of the loan. "Purpose" means different things to different people, but, for mortgage lending, purpose means ‘what are the proceeds of the loan going to be used for?’ There are a number of elements to consider when determining the purpose of the loan.

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