JUMBO LOANS

A LOAN FOR BIGGER IDEAS

Got your eye on a higher priced home? A jumbo (or nonconforming) loan might be an option if you’re considering a loan of $453,100 or more. (Loans of $453,099 or less are known in the business as conforming loans. Conforming loan limits may be higher in designated high-cost areas. Ask for details.)

Jumbo loan programs allow for some flexibility and include both fixed rate and adjustable rate plans.

Luxury house with three car garage and porch view.

PROS AND CONS OF JUMBO LOANS

PROS:

  • Jumbo loans offer affordable terms for higher priced homes.
  • They are ideal for high income earners with good credit.
  • Low down payment options are available.

CONS:

  • Interest rates are higher.
  • Qualification standards may be tougher.

CHECK YOUR TRUE CREDIT SCORE

A credit score assists in measuring your ability to repay a debt in the future.

CALCULATE YOUR MORTGAGE PAYMENT

Want to know how much home you can afford? Try our mortgage calculator.

APPLY NOW

Fill out our online application to get pre-approved.

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