Low Rates for a Big Loan. Obtain a Jumbo Loan
Jumbo loan is the loan with an amount that exceeds the conforming loan limit. Depending on the location, the loan limits can differ. You are welcome to make a choice between fixed or adjustable rates with maximum flexibility. Do you want to be a proud owner of a luxurious house in Las Vegas? Here is what you need to know about Jumbo loans.
Jumbo Loan Features
Before making your home purchase, explore the loan features:
- You can refinance or purchase up to $3,000,000 with Jumbo loans. Moreover, you can benefit from a cash-out refinance up to $500,000 for your next investment.
- If you are a veteran willing to buy your future home, VA Jumbo loans might be your top choice. You will be lucky enough to be offered added value. No down payment and refinances up to 90% of your home’s value is what you will need.
- Based on your financial situation, credit history, current interest rates, or other factors, your actual payment can vary. Make sure to consult an expert to find a good deal.
- No pre-payment penalties. You can pay off your Jumbo mortgage any time you want.
- No origination fees to pay.
- No PMI for financing up to 95%.
Jumbo Loan Requirements
- Obviously Good credit history is mandatory if you want to qualify for these loans. With a 700 credit score you can benefit from a 5% down payment Jumbo. Keep in mind, the less your credits are, the larger your down payment will be.
- Documenting of your income and savings assets are requirement of jumbo loan application.
- Jumbo loans are designed for ready-to-move houses. So make sure that the home you are buying doesn’t require extensive repairs.
Buying a home is a long-term commitment. That’s why, you should make a good research to keep clear of any risks. If you are a mortgage applicant, contact us now! Our team is ready to keep you up-to-date with the latest market changes. We do our best to not merely meet the client’s needs, but to exceed them too.