Use a Jumbo Loan
To Buy The Luxury Home Of Your Dreams
Do you think big? We do, too! Financing a loan that is larger than conforming limits is one of our specialties. As a private bank, we may be able to offer more.
We understand the financial commitment of a larger home. For this category, lenders each set their own guidelines. Our loan officers are not just mortgage experts – we’re lifestyle achievers. Let us help you achieve your homeownership goals.
WHAT YOU NEED TO KNOW
In order to provide financing, lenders consider the following:
- Homebuyers looking to purchase luxury properties
- High-income homeowners/buyers
- Borrowers with excellent credit
DOCUMENTS YOU’LL NEED
Gather the following documents to ensure a smooth application process:
- Asset Information
- Proof of Recent Income
- Tax Returns
- Driver’s License
WHAT WE LOOK FOR
We help get you approved for the perfect loan. This is what we look for:
- High Income
- Assets that cover 5% of the sales price
- Low Debt-to-Income ratio
- Credit score at or above 700
Let The Home Loan Experts
Help Secure Your Home.
WHAT IS A JUMBO LOAN?
A Jumbo Loan is a mortgage loan exceeding the loan limits established by government regulation. Conforming loan limit is $453,100; however, in more high-cost areas of the country, the limit may be higher. Jumbo loans do not fit the typical standards of mortgage loans, so they are a great way for qualified buyers to purchase a luxury home. The ideal bowers will have low debt-to-income ratios, high credit scores, and the ability to put down a large down payment. If you fit these requirements, you may find that a jumbo loan will get you into the house you desire.
WHAT DOES MY CREDIT SCORE NEED TO BE TO QUALIFY?
The higher, the better. Typically, to get approved for a Jumbo loan you need a credit score of 700 or above. However, this may vary with lenders.
WHAT RANGE OF DOWN PAYMENTS ARE INVOLVED?
Typically, lenders will require a down payment of at least 20 percent. This price range is because there are no private mortgage insurance options for Jumbo loans.
HOW DO I KNOW IF THIS LOAN IS RIGHT FOR ME?
If the amount of the loan is over $424,100, then yes. Anything above this range is beyond government regulations, so there are no private insurance options.
FOR A JUMBO LOAN TODAY!
CHECK OUT OUR BLOGS FOR FIRST TIME HOME BUYERS