Certainly but would need to know more about your ability to qualify to make that decision to keep or sell, regarding the loan amount you would not be considered Jumbo loan. We lend nationwide and I can be reached at ballen2accdessnational.com or 888-354-3299.

You could get a first and second to not have a jumbo loan but you would probably need to put down more money. Jumbo rates are really good right now, just a fyi.

There is really not enough information to properly answer your question, however you can do a first and a 2nd to get to conforming limits ($417K), however when you look at your Effective rate (the rate for the first and 2nd combined), and compare it to jumbo rates, you would probably be better off going jumbo... contact a local mortgage broker, not a bank and apply with them... they can type up comparisons specific to your scenario so you can see exactly what to expect... WilliamAcres.com

Jumbo loans are great right now.

If you want to keep the old house as a rental and buy the new one to live in, underwriting will require that you income qualify for both payments without counting any rental income. This may limit some of your options, but to know for sure, contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. These options will included one loan vs two, how much down, etc. He/She will also be able to help you determine if a one loan jumbo is in fact cheaper than splitting the loans into two. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Yes, This can be done. My office is in Forsyth county. Call me if I can help. ( 404-427-1997 ) There are a few different options .www.newhomefinance.net -

Doing a 1st & 2nd is a great idea, and MUCH better than doing a JUMBO loan wih MI (if you can even get it). The problem as I see it, at least with the lenders here in Texas, is that the max 2nd lien you can get is for 100K. This would still leave you with a Jumbo loan amount $660K - $60K - $100K = $500K. As you noted, you need to be lower than $417K. Might have to look at a lesser house, or more down payment (per Texas requirements). Good luck to you.