Here at MortgageDepot, we assist our clients with the appropriate financing options for their mortgage needs. Often, traditional loans aren’t enough to buy the home you really want. A Jumbo Loan is a mortgage that exceeds Fannie Mae and Freddie Mac’s conforming loan limits of $548,250, or up to $822,375 in some high-cost areas. Also known as non-conforming loans, Jumbo loans, and Super Jumbo loans offer the flexibility of borrowing with fewer restrictions.
Recently mortgage loan officer Yuri Gokhberg assisted the Kotlyar family in obtaining a Super Jumbo Loan for a one-family residence on the waterfront in Brooklyn, NY. Initially, the family faced specific difficulties when attempting to secure a home mortgage loan. After being rejected by other financial institutions, with the support and expertise of a professional loan officer such as Yuri, the Kotlyar family was able to secure a 1.5 million dollar home loan for the purchase of the waterfront home of their dreams.
Jumbo loans are available for primary residences, vacation homes, or investment properties, and MortgageDepot can expertly guide you through the process of finding the best financial product to fulfill your dreams of home-ownership.
JUMBO LOAN FACTS:
- Flexible terms: Your loan, the way you want it, with loan options up to $15 Million
- Ratios: Higher debt to income ratio allowed
- non-occupying co-borrowers are permitted: A family member or friend who won’t be living in the home can co-sign to help you qualify
- Options up to 90% LTV: We have a variety of programs available, get pre-approved today and start your home search immediately.
- Fixed and ARM (Adjustable Rate Mortgage) programs available.
JUMBO LOAN REQUIREMENTS:
- Loan amount may exceed the traditional loan limit of $548,250, or up to $822,375 in some areas
- Low down payments: You won’t need a large down payment to get into the home of your dreams
- Ratios: You can incur a higher debt to income ratio while still enjoying competitive interest rates and loan terms
- Flexible terms: MortgageDepot offers several loan options based on your goals and qualifications.