JUMBO LOANS

If your financial situation is on the upswing, a jumbo loan can be a good way to bypass a starter home and purchase the full-sized home of your dreams. We serve our clients’ needs by offering increased flexibility, excellent customer service, and competitive jumbo loan rates. 

What is a Jumbo Mortgage?

A jumbo mortgage, often referred to as a non-conforming loan, is helpful if you’re looking to secure a mortgage in a high-cost area. A jumbo loan exceeds the maximum Fannie Mae high-balance or conforming loan limit, which depends on where you live. If you need to take out a loan over the high-balance or conforming loan limit, a jumbo mortgage could be the best way to secure a large and beautiful home.

Jumbo mortgages can also help you to rapidly build your credit. Considering that your jumbo loan payments are consistently on-time, your credit score will consistently improve as well. However, it’s important to note that it may be more expensive to refinance a jumbo loan due to increased closing costs. 

Different Types of Jumbo Loans

There are two different types of jumbo loan options: Fixed-Rate and Adjustable-Rate. 

Fixed-Rate Jumbo Loans

Fixed-rate jumbo loans offer consistent monthly payments despite potentially rising interest rates. A fixed-rate jumbo loan allows for easier budgeting and a greater peace of mind. 

Adjustable-Rate Jumbo Loans

Adjustable-rate jumbo loans are best for those that are anticipating a significant increase in income or property value over the next several years. An adjustable-rate jumbo loan may also be beneficial if you are only planning on staying in your home short-term or are looking to lower your payments. Adjustable jumbo loan rates typically come in 3-, 5-, and 7-year mortgage lengths. 

Are You Considering Taking Out a Jumbo Loan? 

If you’re looking to take out a jumbo loan, you can feel confident in ending your search here. We are committed to offering greater flexibility, reduced reserve amounts, cash-out refinances, and more, in the interest of building long-lasting relationships with our clients.

Talking to a licensed lending officer is the first step in securing the best loan for you. After years in the industry, we’re confident in our ability to provide you with the answers you’re looking for, which is why we offer a variety of mortgage programs, including competitive jumbo mortgage rates. Give us a call today to speak to one of our loan officers about your options.