Jumbo loans can be used for home purchase, Rate & Term refinance and Cash-out refinance transactions. 30 years fixed term and Full Doc only. Unlike a standard conforming loan, a jumbo loan is a non-conforming loan. This means it’s not eligible for purchase by Fannie Mae or Freddie Mac because the loan amount — sometimes millions of dollars — is above the maximum Conforming loan limit. Jumbo loan amounts must be $1 or more over the Conforming loan limit for the area. Our Jumbo loans are available to U.S. Citizens, Permanent Residents, and Non-Permanent Resident Aliens (ITIN). Mortgage Insurance is required when the LTV is over 80%.
Benefits of Jumbo Loans
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For loan amounts over the current Conforming loan limit.
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Check the current Conforming loan limit at: https://www.fhfa.gov/DataTools/Tools/Pages/Conforming-Loan-Limits-Map.aspx
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Up to 95% LTV on purchases
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Loans up to $3,500,000
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660 minimum score.
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Available on owner-occupied, 2nd homes, and investment properties.