Jumbo Loans

Jumbo Loans

Jumbo Loans

A loan is considered jumbo if it exceeds the conforming and conforming high-balance loan limits. The current conforming loan limit for a single-family home is $417,000 for all states—except Hawaii and Alaska, where it is $625,500.

Jumbo loans have higher loan limits than others and are also known as non-conforming loans because they don't fit within the normal parameters set by Fannie Mae and Freddie Mac.

The loan amount that makes a loan Jumbo varies by location, contact me to find out what Jumbo loan amount you may qualify for in Bay Area. Non-conforming loans tend to have some flexibility that conforming loans don't have. Those include:

  • Less than 20% down with no mortgage insurance
  • Higher debt-to-income ratio
  • Flexible income calculations
  • Credit score requirements typically aren't any stricter than non-conforming loans
  • Vast array of Jumbo loan programs to choose from
  • Financing up to $5 million

Qualification criteria and terms vary. If you have large financing needs a jumbo loan is the answer for you.

Get started now to start the pre-approval process or give me a call at (408) 402-5936 with any questions that you may have.


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