JUMBO Loans

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High-Priced Homes Need Jumbo Loans

 

A Jumbo Mortgage is also called a non-conforming mortgage because this is a loan a lender makes that does not “conform” to Fannie Mae and Freddie Mac’s guidelines. Fannie Mae and Freddie Mac were created by congress in 1938 and 1970 and they provide stability and affordability to the mortgage market by purchasing loans from lenders that conform to guidelines, and this process gives lenders liquidity to be able to make more mortgages. Fannie and Freddie only purchase mortgages that meet their guidelines for credit score, down payment, post closing reserves, and loan amount. In some markets where houses are higher priced, Jumbo loans are used to finance purchasing high priced homes.

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Benefits:

• Get more loan money to purchase a high-quality property.

• Great, fixed-rate and ARM loans available

• Options available for primary, second and investment homes

• Low Down Payments & Competitive Interest Rates

 

Getting a jumbo mortgage is easier than you might think.

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