Jumbo loan.
Financing above the conforming limit for a higher-priced home, with the documentation and trade offs explained before anything is offered.
Financing above the conforming limit for a higher-priced home, with the documentation and trade offs explained before anything is offered.
A mortgage larger than the limit Fannie Mae and Freddie Mac will buy in your county. It follows its own guidelines.
Homes priced above the local conforming limit, in markets where that is common or for a larger property.
Jumbo loans usually ask for more down, stronger credit and cash reserves. Your loan officer tells you where you stand before you apply.
Price range, what you have for a down payment and a picture of your income and assets.
Fixed against adjustable, and jumbo against a conforming loan with a larger down payment where that is possible.
Pre-approval, offer, appraisal and closing. Support continues after.
The price is above the conforming limit where you are buying.
Your score and history support a larger loan.
You have savings beyond the down payment and closing costs.
Your income can be shown clearly, whether salaried or self-employed.
In some cases a larger down payment brings the loan under the conforming limit and improves the terms. Your loan officer runs both.
The maximum loan size Fannie Mae and Freddie Mac will purchase, set each year and higher in high-cost counties. Your loan officer tells you the figure where you are buying.
More than many conventional loans, and it varies with the loan size and your profile. Your loan officer gives you the figure for your situation.
Not always. Pricing depends on the market and your profile, and your loan officer shows you where it stands.
Typically fuller income and asset records than a conforming loan. Your loan officer gives you a checklist up front.
Yes. Fixed and adjustable options exist, and which fits depends on how long you plan to keep the loan.
Tell us about the home and your finances. A loan officer compares jumbo options and alternatives before anything is offered. Pre-qualifying will not affect your credit score.
Pre-qualify for a jumbo loan
