Conforming loans meeting the lending limitations set by Fannie Mae, Freddie Mac and other government-backed organizations may not be right for every borrower. At MortgageDepot, we understand how borrowers, particularly those shopping for single-family homes, condominiums and cooperative apartments in high-cost regions of the country, could need larger loans. Our jumbo advantage program is perfect for borrowers in need of a non-conforming financing option.
Flexible underwriting considerations
Our mortgage loan originators work with lenders specializing in jumbo mortgage financing to offer our borrowers underwriting requirements with even more flexibility and better terms for 2019, including:
- Loan amounts that start at $1 over conforming loan limits with a maximum allowable loan amount of $3 million.
- New for 2019 is a 95 percent loan-to-value ratio to $1.5 million.
- Borrowers enjoy the certainty of fixed-rate financing.
- Borrowers this year can take advantage of a cash-out option up to $500,000.
- Loans available for investment properties containing from one to four units.
- Vacant land up to 20 acres is now eligible for jumbo financing.
Borrowers in New Jersey who had to look on in envy as their New York counterparts took advantage of jumbo loans to purchase cooperative apartments need wait no longer. Our jumbo advantage program for co-op loans is now available to Garden State borrowers.
Call us today to learn more about our jumbo advantage loans. One of our loan originators is always available to show borrowers how MortgageDepot has loan programs for everyone.