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.