Jumbo Loans
What Are Jumbo Loans?
A jumbo loan, also known as a jumbo mortgage, is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA). Unlike conventional mortgages, a jumbo loan is not eligible to be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac.
Jumbo mortgages are designed to finance luxury properties and homes in highly competitive local real estate markets and have unique underwriting requirements and tax implications. These kinds of mortgages gained traction as the housing market recovered following the Great Recession.
What You Need to Know About Jumbo Loans?
- Larger Loan Amounts
- Larger Down Payments Required
- More Rigorous Credit Requirements
- Great to Excellent Credit Scores
- For High Earners, Not Rich Yet (HENRY)
- Lower Debt to Income Requirements
- Larger Cash Reserves
- Manual Underwriting
- No Upfront Funding Fee
- May Require 2 Appraisals
Our Pre-Approval Process
Follow the 5-Step process to guaranteed success in your home buying journey. Our goal is to ensure a smooth and fluid process, which is achieved educating you every step of the way. Let us guide you home!
We begin by understanding your financial goals and needs and discussing various loan options available to you in detail.
Once you've chosen the right loan program, we assist you in completing the loan application accurately and efficiently.
You'll securely upload necessary documents such as income statements, tax returns, and identification to our online portal for review.
Our team reviews your application and documents to ensure everything is in order and meets lender requirements.
Upon successful review, you'll receive pre-approval, indicating that you meet initial qualification criteria, giving you confidence as you move forward with your home purchase.
Ready to Start The Pre-approval Process?
Its never too early to start the pre-approval process!
Choose us for our unparalleled expertise and years of experience in the mortgage industry. Our team of professionals possesses deep knowledge and understanding of the market, ensuring you receive top-notch guidance and advice throughout the loan process.
With us, you can trust that you're working with a transparent and trustworthy partner. We believe in open communication, honesty, and integrity, providing you with clear information and guidance to make informed decisions confidently. Choose us for a seamless and trustworthy mortgage experience you can rely on.
we offer flexible fees and an easy process, ensuring a hassle-free experience from start to finish. Choose us for a seamless and trustworthy mortgage experience you can rely on.
