[PHOTO: program image — Featured Image (jumbo)]
Best for Buyers purchasing homes priced above the conforming limit in their county.
A jumbo, or non-conforming, loan is any mortgage above the conforming limit set each year by the Federal Housing Finance Agency. Jumbo loans let you finance a higher-priced home with a single loan rather than combining multiple mortgages.
Because they are not sold to Fannie Mae or Freddie Mac, jumbo guidelines vary by lender. We will structure your file carefully — reserves, documentation and appraisal — so there are no surprises at underwriting.
Highlights
- Loan amounts above conforming limits
- Fixed-rate and ARM options
- Primary residence, second home and investment options
- Down payment options starting around 10% for well-qualified borrowers
Things to consider
- Stronger credit, reserves and documentation are typically required
- Two appraisals may be required on very large loan amounts
Program descriptions are general and for education only. Guidelines, limits and eligibility change; your mortgage advisor will confirm what applies to you. Not a commitment to lend.