Mortgages for Higher Loan Amounts
A jumbo loan is for home loans that exceed the local conforming loan limit and are considered to be riskier for lenders. Loan limits vary by county, and since the loan cannot be guaranteed by Fannie Mae or Freddie Mac, they typically have more stringent guidelines, require higher down payments, and higher credit scores.
If you live in a higher cost area, you likely have a higher conforming loan limit. We can evaluate other loan options such as a combined first and second mortgage, also known as a piggyback loan. Serving as a true fiduciary, we compare several different loan options on your behalf, showing the difference in loan benefits with easy-to-read reports, charts, and graphs – smart mortgage thinking built-in! A Jumbo Loan requires:
• Higher credit score
• Higher reserve requirements (6-12 mo.)
• Down payment typically 10%-20% or greater
• Stricter guidelines
There are financial strategy and timing considerations that can save you thousands of dollars. We work with our clients to navigate dynamic markets, anticipate underwriting requests, and use strategic intelligence to ensure your offer stands out.
Our Loan Process is Simple:
- Complete our easy Mortgage Qualifier.
- Receive custom loan options for your situation and goals.
- Compare and consider loan rates and terms.
- Select the loan that best fits your goals.
Looking for something else?
View other loan options here!
Looking for more? View our full list of loan programs here.