Jumbo Loan Rates

Jumbo Loans

Jumbo home loans are those that surpass the loan servicing limits allowed by government-sponsored enterprises, such as Freddie Mac or Fannie Mae. Jumbo loans usually have stricter underwriting qualifications and can be utilized to purchase not only primary residences but also vacation and investment properties.

What Kind Of Homebuyers Are Best Suited For A Jumbo Loan?

Here are some of the critical characteristics of a Jumbo loan mortgagee.

  • Higher credit score.
  • Currently has a lower debt to income ratio.
  • Can make a down payment of at least 3% or more.
  • Can prove stable income.

What Are The Advantages Of Jumbo Loans?

Here are some of the critical characteristics of a Jumbo loan mortgagee.

  • Can put down as little as 3% of the purchase price.
  • Private mortgage insurance (PMI) can be avoided by putting down 20%.
  • Conventional loan interest rates are typically better
    than comparable government-backed loans.
  • Flexibility – Can be used to purchase a primary or secondary residence.
  • Both fixed rate & adjustable rate terms are available for the life of the loan.
  • Can be used to refinance an existing loan or a new home purchase.

What Is A Conventional Conforming Loan?

A Conventional Conforming loan is typically a loan that is at or under the maximum county loan limit of the property. They are called conforming because they adhere to the guidelines set forth by Fannie Mae and Freddie Mac.

Is A Conventional Loan Right For Me?

For clients who meet the requirements of a Conventional loan, a Jumbo loan is a type of home financing arrangement might be well suited to them. Because everyone’s financial circumstances are different, finding the right kind of mortgage for you is critical. Better Lending is happy to walk you through this crucial step of buying a home.

Contact us today to learn more about why so many homeowners have trusted us to be their lender of choice.

Large house on a lake with docked boats
Loan Program
Conventional rates as low as 2.25% rates as low as 2.522%
FHA rates as low as 1.75% rates as low as 2.224%
VA rates as low as 2.25% rates as low as 2.410%
USDA rates as low as 1.75% rates as low as 2.524%

Contact Us Today

Contact us today to learn more about why so many homeowners have trusted us to be their lender of choice for Conventional loans.

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