What are Jumbo Loans?

Jumbo loans are loans above the Fannie Mae/Freddie Mac conforming loan limit. For most of the country these are loans above $453,100. Jumbo loans generally look and act just like conventional, conforming loans, but since they are held on bank portfolios rather than by Fannie Mae/Freddie Mac there are often a few differences.

Jumbo loans typically require a larger down payment than conventional, conforming loans. A minimum of a 10% down payment is often required with some programs requiring a 20% down payment or more. Jumbo loans also commonly require slightly higher credit scores than conventional, conforming loans.

In most cases, a well-qualified conventional, conforming borrower would have no trouble qualifying for a jumbo loans as long as they are able to afford the higher payment associated with a bigger loan amount.

30-Year Fixed-Rate

15-Year Fixed-Rate

10/1 ARM

7/1 ARM

5/1 ARM

Jumbo Loans with 10% Down Payment

We offer jumbo loans up to $2,000,000 with only 10% down and no mortgage insurance!

  • Primary Residences and Second Homes
  • Purchase or Refinance transactions
  • No Mortgage Insurance
  • Seller can pays costs up to 6% of value
  • Single-Family Homes, Townhomes, warrantable Condominiums
  • Title can be held in a revocable trust
  • Eligible for Power of Attorney Closing

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