Jumbo Loan

A jumbo loan (or jumbo mortgage) is a type of financing where the loan amount is higher than the conforming loan limits set by the Federal Housing Finance Agency (FHFA).

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Jumbo Loan

In the United States, a jumbo loan is a mortgage loan that may have high credit quality but is in an amount above conventional conforming loan limits. This standard is set by the two government-sponsored enterprises, Fannie Mae and Freddie Mac, and sets the limit on the maximum value of any individual mortgage they will purchase from a lender. Fannie Mae (FNMA) and Freddie Mac (FHLMC) are large agencies that purchase the bulk of U.S. residential mortgages from banks and other lenders, allowing them to free up liquidity to lend more mortgages. When FNMA and FHLMC limits don’t cover the full loan amount, the loan is referred to as a “jumbo mortgage”. Traditionally, the interest rates on jumbo mortgages are higher than for conforming mortgages, however, with GSE fees increasing, Jumbo loans have recently seen lower interest rates than conforming loans.

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Loan request for…

Purchase or Refinance Residential Property

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Pre-Qualification

Pre-Qualification will provide you with an initial quote with the following information:

  • Loan amount
  • Type of loan program
  • Loan to value (LTV)
  • Interest rate
  • Processing times.

 

Note: Pre-Qualification will NOT require credit to be obtained.

Loan Application

Please click on the Proceed bottom below to complete the Loan Application and create your account to monitor the loan process application.

Note: This process REQUIRES credit to be obtained.

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