A jumbo loan is a mortgage loan in which the loan amount exceeds the conforming loan limit of $424,100.
Jumbo mortgages provide a good solution if you are purchasing a high priced home. If your loan amount will exceed the conforming loan limit, a jumbo loan limit may be right for you.
Jumbo loans offer both fixed and ARM products, providing borrowers various options for their financing needs.
Jumbo loans tend to have more restrictive lending guidelines, compared to conventional and high balance loans. They tend to have higher credit score, down payment and asset reserve requirements and also have tighter debt to income ratio requirements.
Give us acalltoday and let us help you figure out if a jumbo loan is right for you