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Jumbo Mortgage Loan

Jumbo and Super Jumbo loans (also called non-conforming loans) can be used to purchase or refinance a property, offering borrowers greater financing flexibility than conventional mortgages. Jumbo loans exceed Fannie Mae and Freddie Mac's conforming loan limits of $424,100, or up to $637,150 in some high-cost regions. Jumbo and Super Jumbo loans provide the flexibility of borrowing with fewer restrictions.

Jumbo Loan Benefits

  • Flexible terms: More loan options up to $4 Million

  • Ratios: Higher debt to income ratios are allowed

  • Non-occupying co-borrowers allowed: Family members or friends can co-sign to help you qualify

  • Options up to 90% LTV: Higher LTV’s allow you to borrow more

  • Jumbos are available as fixed or ARM programs  

 

Refinancing a Jumbo Loan:

  • Lower your interest rate and monthly payment

  • Change the terms of the loan: Pay off your mortgage sooner to build equity faster

  • Up to $35,000 with cash-out refinancing: Pay off high-interest debt, finance expenses, remodel a room, etc.

 

Jumbo Loan Requirements

Jumbo loans can be used for primary residences, vacation homes or investment properties. 

  • Loan amounts can exceed the traditional loan limit of $424,101, or up to $636,150 depending on the region

  • Ratios: You can incur a higher debt to income ratio while still enjoying competitive interest rates and loan terms

  • Flexible terms: Several loan terms based on your goals and qualifications

 

Jumbo Loan Options

  • A fixed rate Jumbo loan offers the security of a stable monthly payment

  • A Jumbo ARM loan provides upfront savings with initial lower payments

  • An interest-only Jumbo loan allows borrowers to make payments toward only the interest portion of the loan