Jumbo loans range from $417,001 -- $10 million, giving buyers the option to either purchase or refinance a home priced above the conforming loan limit. The conforming loan limit is the maximum loan size eligible through Fannie Mae or Freddie Mac. With the help of a jumbo loan you can purchase the home of your dreams.

Jumbo Loan Products Offer Borrowers Significant Benefits:

• Some of the lowest rates available
• Financing up to $10 million
• No points and hidden fee
• Fixed-rate and adjustable-rate loans
• Interest-only loan options available
• No closing cost options available
• A range of eligible properties, including primary residences, second homes and investment properties
• Since lenders are taking a greater risk lending a larger amount of money to borrowers, the requirements to qualify for a jumbo loan are often stricter.

To qualify for a jumbo loan today, you should expect:

• If purchasing, to make a down payment of at least 20 percent of price
• If refinancing, have at least 20 percent equity in the home
• Be able to document your income
• Be able to get an adjustable-rate loan, because fixed-rate jumbos are relatively rare.
• The monthly mortgage payment must be no more than 38 percent of your income before taxes.

As always, we want to put you in the best financial situation possible, call us today at 888-733-4224 to speak with an Orange County mortgage expert and determine if a jumbo loan is right for you.
You can also apply online for a free, no obligation quote.