Jumbo Loans

“I plan on buying a house in a high-priced area.”

10% minimum down payment
Fixed and adjustable rate loans for loan amounts over the conforming loan limit
For primary, second homes and investments
No mortgage insurance

A Jumbo Loan benefits those in the market for a high-priced property without the ability to pay cash as well as buyers interested in an investment property or second home.

Home prices have shot up in some areas of the U.S. to the point where buyers need jumbo loans to finance them. Jumbo mortgages are meant for houses that exceed the dollar amount loan-servicing limits put in place by GSE’s Freddie Mac and Fannie Mae. This makes them non-conforming loans. Borrowers can get fixed- or adjustable-rate jumbo mortgages with various term options.