Jumbo Loans
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The Lowdown on Jumbo Loans...
Why a Jumbo Loan?
There are many benefits, including: financing available up to $2.5 million; the convenience of one loan for the entire loan amount instead of having multiple mortgages; competitive pricing… and more.
Our Jumbo Loan Rates Are Low & Our Process is Quick & Painless
A jumbo loan is a loan that exceeds the conforming loan limits as set by Fannie Mae and Freddie Mac. As of 2024, the limit is $766,550 for most of the US, apart from Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit is $1,149,825. Rates tend to be a bit higher on jumbo loans because lenders generally have a higher risk.
We’re here to make the jumbo home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE Jumbo Loan Qualifier.
We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.
The Jumbo Loan Process
Here’s how our Jumbo loan process works:
- Eligibility Check:Review income, credit score, and debt-to-income ratio.
- Select a Lender:Compare lenders offering jumbo loans.
- Pre-Approval:Submit financial details for a pre-approval letter.
- Home Search:Find a property within your budget.
- Application Submission: Complete the application with necessary documents.
- Appraisal:Lender orders an appraisal to assess property value.
- Processing:Lender reviews application and appraisal.
Benefits of the Jumbo Loan Process
Here’s Benefits of the Jumbo Loan Process:
- Higher Loan Limits: Allows financing for properties exceeding conventional loan limits.
- Flexible Property Options: Ideal for luxury homes or high-priced markets.
- Competitive Interest Rates: Can offer rates comparable to conventional loans.
- No Private Mortgage Insurance (PMI: Typically doesn’t require PMI, even with lower down payments.
- Customizable Terms: Offers flexible loan terms, including fixed and adjustable rates.
