Jumbo Home Loans
Financing for homes with larger price tags vary county by county, based on the conforming loan limits set by the FHFA. Also known as Non-Conforming loans, these programs are great for home buyers looking for luxury property.
Why Should I Use a Jumbo Loan?
Higher Amounts
Jumbo loans exceed the conforming limit, meaning the price of your property can be well above the average price in your area.
No PMI
With a down payment of at least 20% of the home value, you can avoid paying the extra monthly cost of Private Mortgage Insurance.
Adjustable Rates
A variety of jumbo loan programs offer more flexibility to homeowners with their rates, meaning you can decide on utilizing a fixed- or adjustable-rate for your mortgage.
Let’s talk about your Jumbo Options
becky.nexalo@gmail.com
Call or Text: 505-235-9810
Looking for other loan options?
FHA Home Loans
Dive into homeownership with the FHA loan, a government-insured mortgage perfect for first-timers. Enjoy the benefits of low down payments and forgiving credit requirements, making your first home more attainable than ever.
HELOC Loans
Access the equity built in your home through a HELOC, providing a revolving source of funds for various expenses. With this line of credit, you can borrow repeatedly up to your limit, enjoy flexible usage, and navigate variable interest rates, all while paying interest only on the amount you use.
VA Home Loans
For those who've served, VA mortgages present an unparalleled opportunity to own a home with no down payment and competitive interest rates. Guaranteed by the Department of Veterans Affairs, these loans are a gesture of gratitude, allowing eligible veterans and active military members to finance their homes fully while also bypassing private mortgage insurance.
Conventional Loans
Conventional loans stand out with their strict credit criteria and the ability to finance more significant amounts, making them an excellent choice for individuals with solid financial foundations. Enjoy competitive rates and the possibility of waiving mortgage insurance with a substantial down payment.
Reverse Mortgage
For homeowners aged 62 or older, reverse mortgages present an opportunity to access their home equity as tax-free income without the burden of monthly payments. This type of loan pays the lender to the homeowner, covers any existing mortgage, and allows the borrower to remain in their home.
DSCR Loans
Tailored for property investors, DSCR loans depend on the rental income of the property to determine eligibility. With no need for income documentation, these loans use the Debt Service Coverage Ratio to guarantee the property's income covers the loan. Investors need to meet credit score minimums and provide larger down payments but benefit from a more flexible and swift funding route for their investment properties.
Feel Informed and Confident In Your Mortgage Decision
Get the information you need to feel happy with your mortgage choices. Find details about loan programs, qualifications, documents, strategies and more on our Mortgage Broker Blog.
