Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically higher than conforming loans. For borrowers looking to secure their preexisting dream home or who are ready to build their luxury property from the ground up, a jumbo loan is generally the favorable option.
Jumbo Loans are typically used to buy more expensive homes, luxury properties, and high-end custom construction homes. Jumbo loan limits and values can vary by both state and county.
Jumbo mortgages come with unique requirements for qualification. Your Senior Loan Officer will be able to help you navigate the requirements that are specific to your property and location. The premiere high-end property that may have once seemed unattainable could well be within your reach after locking down the proper loan.