Reply #18: Five years ago, my credit union wouldn't do a jumbo loan for me.

[MissB]

We were in the process of selling a house, but possibly needed to buy our next house outright, so we went through the motions of taking on the new house as a completely separate mortgage. I went to our credit union, since that is where we did most of our banking.

The loan officer told me that they didn't do jumbo loans (and ours was barely more than the minimum, but still it was within the jumbo loan definition). I pressed a bit, and he came back with an answer a few days later - their investors simply weren't willing to go there.

In the end, we didn't need a jumbo loan. And I feel great about the credit union's policy. It's kept them in a good, solid standing.