With banks and lenders placing tighter restrictions on jumbo mortgages, it is important for you as a mortgage shopper to have a professional staff on your side who are experts in the mortgage industry. At Mortgage Depot, our staff knows everything about jumbo mortgage loans and can secure the financing you need for your purchase or refinance transaction greater than $417,000.
A Closer Look at Jumbo Mortgages
The classification “jumbo mortgage” refers to any loan greater than $417,000, which is the standard set by the Federal Housing Finance Agency. Since jumbo mortgages exceed conforming limits, rates and terms are typically higher than traditional mortgages that meet conforming limits.
Therefore, you need our experts at Mortgage Depot who can help find a workaround to the bank’s tight lending guidelines. Our experts help you find low interest rates and favorable terms on your jumbo mortgage purchase or refinance. We have a series of programs specifically designed to help you secure the financing you need for your mortgage. Our network of lenders ensures there is a program that fits your mortgage needs and your budget.
Here are some program guidelines that will help you address your mortgage needs:
- Jumbo Program- 90 LTV (loan-to-value) for mortgage loans up to $1.5 million
- Primary residences up to $3 million
- Second home mortgage loans up to $2.5 million with a 60 percent loan-to-value
- Cash-Out to Borrower up to $750,000
Our team is dedicated to helping you address your mortgage requirements and we work around the clock searching for the right mortgage terms. Our expert team understands the volatility in the housing market and how it affects jumbo mortgages, which is why we are dedicated to finding the program that withstands the test of time. Call us today for a free consultation.