Jumbo Loan
Financing Options for Prime Borrowers
Financing above conforming loan limits
Competitive rates and flexible terms
Low fees customize solutions for your unique needs
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FHA Loans
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Make your dream of owning a home a reality.
Low down payment options
Flexible credit requirements
Competitive interest rates we shop for you
888-549-1005
Call for a Free Mortgage Saving Report
No Credit Checks Required
Jumbo Loan
Or Get a Free Rate Quote
1800-725-9946
Financing Options for Prime Borrowers
Financing above conforming loan limits
Flexible credit requirements
Competitive interest rates we shop for you
888-549-1005
Call for a Free Mortgage Saving Report
No Credit Checks Required
Get Approved for a Jumbo Loan — Bigger Loans, Better Rates, and VIP Service!
High Loan Amounts for Luxury Homes: — Get the financing you need for high-value properties without the hassle.
Competitive Jumbo Loan Rates: — We work hard to secure the best possible rates, saving you thousands over time.
Fast, Priority Pre-Approvals: — Move quickly in competitive markets with our fast-track approval process.
Personalized, White-Glove Service: — Our expert team handles everything for a smooth and stress-free experience.
Flexible Loan Options Tailored to You: — Choose the loan terms that fit your unique financial goals and lifestyle.
Low Closing Costs & No Hidden Fees: — Transparent pricing means you keep more of your money where it belongs.
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Start with our Mortgage Approval Tool!
Start with our Mortgage Approval Tool!
Start with our Mortgage Approval Tool!
Home Purchase
Buying a home is a major investment,
requiring planning, budgeting, and research to secure the perfect property for long-term stability.
Home Refinance
Home refinancing replaces an existing mortgage with a new loan, often to lower interest rates, reduce payments, or access home equity.
Home Equity
Home equity is the property's market value minus any outstanding mortgage balance, allowing homeowners to borrow against their ownership stake.
Reverse
A reverse mortgage allows homeowners, typically seniors, to convert home equity into cash without monthly payments, repaid when they move or sell.
Our Service Commitment
Get Expert Advice every time from a licensed loan officer with a suite of products to choose from.
Our team strives to deliver excellence. Contact us day or night with any mortgage questions—we’re here when you need us.
Working with us or just thinking of it, we will always be honest and transparent. No sales targets means way better service!
No Hidden Fees: We believe in clear and upfront communication about all costs associated with your mortgage.
Tailored Solutions: Our advisors work closely with you to find mortgage solutions that are customized to your financial situation.
Available When & Where
You Want!
Across multiple states, our licensed loan
officers will help you from application to
funding and beyond.
We work on your schedule. With streamlined
technology and dedicated support staffing,
your mortgage request is always our priority!
Our Service Commitment
No Hidden Fees: We believe in clear and upfront communication about all costs associated with your mortgage.
Tailored Solutions: Our advisors work closely with you to find mortgage solutions that are customized to your financial situation.
Tailored Solutions: Our advisors work closely with you to find mortgage solutions that are customized to your financial situation.
Get Expert Advise, every time from a licensed loan officer with a suite of products to choose from.
Our Team strives to deliver excellence, reach us day or night about any of your mortgage questions, we’re here for you when you need.
Working with us or just thinking of it, we will always be honest and transparent. No sales targets means way better service!
Largest Lender Network in Florida, Georgia & Texas
Available When & Where You Want!
Across multiple states our Licensed Loan officers will help you from the application to the funding and beyond.
We work on your schedule, with streamlined technology and support staffing, your mortgage request will always be a priority!
Book an Appointment
Book an Appointment
Meet Our Team
Angle Ogbele
Natasha Staplowski
Darnell Smith
Arlan Zuberi
Meet Our Team
Angle Ogbele
Natasha Staplowski
Darnell Smith
Arlan Zuberi
What is Jumbo Loan?
A Jumbo Loan is a type of mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In most parts of the United States, a jumbo loan is any mortgage that is larger than $647,200 for a single-family home in 2022; however, in high-cost areas, the limit can be higher. Because they exceed these limits, jumbo loans cannot be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac.
Jumbo loans are used to finance luxury properties and homes in highly competitive local real estate markets. They come with unique underwriting requirements and tax implications. These loans require larger down payments, and borrowers must have excellent credit, a low debt-to-income ratio, and often need to show substantial cash reserves. Interest rates on jumbo loans can be higher than those on conforming loans, although market conditions can lead to rates being competitive.
What is Jumbo Loan?
A Jumbo Loan is a type of mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In most parts of the United States, a jumbo loan is any mortgage that is larger than $647,200 for a single-family home in 2022; however, in high-cost areas, the limit can be higher. Because they exceed these limits, jumbo loans cannot be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac.
Jumbo loans are used to finance luxury properties and homes in highly competitive local real estate markets. They come with unique underwriting requirements and tax implications. These loans require larger down payments, and borrowers must have excellent credit, a low debt-to-income ratio, and often need to show substantial cash reserves. Interest rates on jumbo loans can be higher than those on conforming loans, although market conditions can lead to rates being competitive.
How Does a Jumbo Loan Works?
Loan Application: The borrower submits an application to a lender, providing detailed information about the property and their financial status.
Due Diligence: The lender conducts a thorough review of the property and the borrower's finances, including credit checks, financial statement analysis, and review of property documents.
Appraisal: A professional appraisal is conducted to assess the property's market value and income-generating potential.
Loan Structuring: Based on the appraisal and due diligence, the lender proposes loan terms, including the amount, interest rate, amortization schedule, and any covenants or conditions.
Loan-to-Value (LTV) Ratio: Lenders determine the maximum loan amount as a percentage of the property's appraised value. A lower LTV ratio means the borrower will need to provide a larger down payment.
Debt Service Coverage Ratio (DSCR): The lender calculates the DSCR to ensure the property's income is sufficient to cover the loan payments.
Closing: Upon agreement of the terms, the loan is finalized, and funds are disbursed. The borrower then begins making payments according to the loan schedule.
Collateral: The property itself usually serves as collateral for the loan, securing the lender's investment.
Because of the size and risk associated with jumbo loans, lenders are very thorough in vetting potential borrowers. Jumbo loans are most often used by borrowers purchasing higher-end homes or homes in markets with high real estate prices. If you're considering a jumbo loan, it's important to shop around to find the best rates and terms available.
How Does a Jumbo Loan Works?
Loan Application
The borrower submits an application to a lender, providing detailed information about the property and their financial status.
Due Diligence
The lender conducts a thorough review of the property and the borrower's finances, including credit checks, financial statement analysis, and review of property documents.
Appraisal
A professional appraisal is conducted to assess the property's market value and income-generating potential.
Loan Structuring
Based on the appraisal and due diligence, the lender proposes loan terms, including the amount, interest rate, amortization schedule, and any covenants or conditions.
Loan-to-Value (LTV) Ratio
Lenders determine the maximum loan amount as a percentage of the property's appraised value. A lower LTV ratio means the borrower will need to provide a larger down payment.
Debt Service Coverage Ratio (DSCR)
The lender calculates the DSCR to ensure the property's income is sufficient to cover the loan payments.
Closing
Upon agreement of the terms, the loan is finalized, and funds are disbursed. The borrower then begins making payments according to the loan schedule.
Collateral
The property itself usually serves as collateral for the loan, securing the lender's investment.
Because of the size and risk associated with jumbo loans, lenders are very thorough in vetting potential borrowers. Jumbo loans are most often used by borrowers purchasing higher-end homes or homes in markets with high real estate prices. If you're considering a jumbo loan, it's important to shop around to find the best rates and terms available.
Benefits of Jumbo Loans
Loan Limits: Jumbo loans exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). For 2023, the conforming loan limit for most of the country is $647,200, so any mortgage above this amount is considered a jumbo loan.
Down Payment: Jumbo loans require a larger down payment compared to smaller, conforming loans. The down payment can be 10-20% or more of the purchase price.
Interest Rates: Jumbo loans often have competitive interest rates, but they can be slightly higher than those of conforming loans due to the greater risk involved with larger loan amounts.
Credit Requirements: Borrowers need a higher credit score to qualify for a jumbo loan, often around 700 or higher.
Debt-to-Income Ratio: Lenders usually require a lower debt-to-income ratio for jumbo loans, often insisting that the borrower's monthly debt payments do not exceed 43% of their monthly gross income.
Cash Reserves: Borrowers may need to show they have enough cash reserves to cover several months of mortgage payments, taxes, and insurance.
Property Appraisal: A thorough and sometimes more complex appraisal process is necessary to ensure the property's value supports the loan amount.
Documentation: There is often a requirement for extensive documentation to prove income, assets, and employment history.
Loan Options: Jumbo loans come in various forms, such as fixed-rate, adjustable-rate, and interest-only loans, providing flexibility for borrowers.
Underwriting: The underwriting process for a jumbo loan can be more rigorous than for a conforming loan due to the larger amount of money being borrowed.
Benefits of Jumbo Loans
Loan Limits
Jumbo loans exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). For 2023, the conforming loan limit for most of the country is $647,200, so any mortgage above this amount is considered a jumbo loan.
Down Payment
umbo loans require a larger down payment compared to smaller, conforming loans. The down payment can be 10-20% or more of the purchase price.
Interest Rates
Jumbo loans often have competitive interest rates, but they can be slightly higher than those of conforming loans due to the greater risk involved with larger loan amounts.
Credit Requirements
Borrowers need a higher credit score to qualify for a jumbo loan, often around 700 or higher.
Debt-to-Income Ratio
Lenders usually require a lower debt-to-income ratio for jumbo loans, often insisting that the borrower's monthly debt payments do not exceed 43% of their monthly gross income.
Cash Reserves
Borrowers may need to show they have enough cash reserves to cover several months of mortgage payments, taxes, and insurance.
Property Appraisal
A thorough and sometimes more complex appraisal process is necessary to ensure the property's value supports the loan amount.
Documentation
There is often a requirement for extensive documentation to prove income, assets, and employment history.
Loan Options
umbo loans come in various forms, such as fixed-rate, adjustable-rate, and interest-only loans, providing flexibility for borrowers.
Underwriting
The underwriting process for a jumbo loan can be more rigorous than for a conforming loan due to the larger amount of money being borrowed.
Features of FHA Loans
Higher Loan Amounts
The primary advantage of a jumbo loan is the ability to finance a more expensive property that exceeds conforming loan limits, which is essential in high-cost real estate markets.
Competitive Interest Rates
While jumbo loans used to come with significantly higher interest rates, this gap has narrowed. In some cases, the rates for jumbo loans can be comparable to those of conventional mortgages, especially for borrowers with excellent credit and strong financials.
One Loan vs. Multiple Loans
Instead of taking out multiple loans to cover the cost of a high-priced home (such as a first and second mortgage), a jumbo loan allows you to manage just one mortgage.
Flexibility
Jumbo loans often come with more flexible terms and a variety of loan programs, such as fixed-rate or adjustable-rate mortgages, to fit different financial situations.
Convenience
Borrowers can finance the purchase of a luxury home without depleting their savings, which allows them to keep cash reserves for other investments or expenses.
Potential Tax Benefits
Interest paid on a mortgage, including a jumbo loan, may be tax-deductible. However, it's important to consult with a tax professional regarding the specifics of your situation.
Features of Jumbo Loans
Higher Loan Amounts: The primary advantage of a jumbo loan is the ability to finance a more expensive property that exceeds conforming loan limits, which is essential in high-cost real estate markets.
Competitive Interest Rates: While jumbo loans used to come with significantly higher interest rates, this gap has narrowed. In some cases, the rates for jumbo loans can be comparable to those of conventional mortgages, especially for borrowers with excellent credit and strong financials.
One Loan vs. Multiple Loans: Instead of taking out multiple loans to cover the cost of a high-priced home (such as a first and second mortgage), a jumbo loan allows you to manage just one mortgage.
Flexibility: Jumbo loans often come with more flexible terms and a variety of loan programs, such as fixed-rate or adjustable-rate mortgages, to fit different financial situations.
Convenience: Borrowers can finance the purchase of a luxury home without depleting their savings, which allows them to keep cash reserves for other investments or expenses.
Potential Tax Benefits: Interest paid on a mortgage, including a jumbo loan, may be tax-deductible. However, it's important to consult with a tax professional regarding the specifics of your situation.
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