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Jumbo Loans
A Jumbo Loan with Big Benefits
Jumbo loans provide financing for luxury and high-cost homes that exceed conventional lending limits. With loan amounts up to $5 million, jumbo loans allow homebuyers to purchase primary residences, second homes, or investment properties that require more substantial financing.
Key Benefits
- Finance up to $5 million.
- Fixed-rate and adjustable-rate options available.
- Ideal for luxury homes or vacation properties.
- Wide range of repayment terms.
Who It’s For
- Buyers of high-value homes that exceed conventional loan limits.
- Individuals looking to purchase luxury properties or investment homes.
Pros and Cons
Pros:
- Financing for high-value properties: Allows you to purchase luxury homes or properties that exceed conventional loan limits.
- Competitive interest rates: Jumbo loans may offer similar or slightly higher rates compared to conventional loans, despite their size.
- Flexible loan terms: Both fixed and adjustable-rate options are available, providing flexibility.
Cons:
- Higher credit and income requirements: Borrowers typically need excellent credit and a high income to qualify.
- Larger down payment: Often requires a higher down payment, typically 10-20%.
- Higher closing costs: Due to the larger loan amount, closing costs are generally higher.
How to Apply
Contact us today to explore your jumbo loan options and start your application for high-value home financing.
For a quicker start, complete the form on this page and start your pre-approval process today!
CONTACT US TODAY!
Jumbo Loan FAQs
A fixed-rate offers consistent payments, while an adjustable-rate mortgage (ARM) can fluctuate based on market rates.
You can finance up to $5 million, depending on eligibility.
Yes, jumbo loans can be used for primary residences, second homes, or vacation properties.
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