Do you need to borrow more than $417,000?
Interested in leveraging your assets more effectively?
Jumbo Mortgages offer:
- Larger loan amounts to purchase more expensive homes
- Loan amounts as high as $1 million and down payments as low as 5%
- Jumbo Mortages facilitate high-end purchases of:
Primary residences - Second or vacation homes
Investment properties
Best for people who:
- Want to finance larger and/or more expensive properties and can handle larger monthly payments
- Investment-minded buyers who want to leverage their assets more effectively
Currently a jumbo mortgage is a purchase or refinance loan that exceeds $417,000 for a single-family home.* It is also called a non-conforming loan because it does not conform to the loan limits set by Fannie Mae (The Federal National Mortgage Association or FNMA) or Freddie Mac (The Federal Home Loan Mortgage Corp. or FHMLC). Jumbo financing options include fixed-rate and adjustable-rate mortgages, with a range of terms to accommodate immediate and long-range financial plans.
*Except in Hawaii and Alaska, where the limit is $625,500 for a single-family home.
