Jumbo Loans

Purchase with Minimum 3.5% Downpayment and No Mortgage Insurance.

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What is a Jumbo Loan

A Jumbo loan is a mortgage used to finance properties where the client’s mortgage loan amount is above an area’s county loan limit.  Each individual county loan limit is determined by the FHFA (Federal Housing Finance Agency).  For 2022, the maximum county loan limit for a conforming loan in most parts of the United States is $647,200.  In areas with a higher cost of living, loan limits are as high as $970,800.  You can confirm loan limits at www.CountyLoanLimit.com.  Homes loans that exceed the established county loan limit will typically require a Jumbo loan. 

Jumbo loans are also known as non-conforming loans, or non-conforming conventional mortgages.  Jumbo rates are typically higher than conventional loans because these loans cannot be guaranteed by Fannie Mae and Freddie Mac.  This means that the lender is not protected from losses if a borrower defaults.  Jumbo loans are typically available with the options of either a fixed interest rate or an adjustable interest rate, and a variety of other terms. 

Jumbo Loan Options

We have several JUMBO options available to assist clients, even those with special circumstances.

  • Options available for qualified clients with minimum Fico of 580
  • Options available for 3.5% down payment
  • Options available for 11% down payment and no Mortgage Insurance
  • Options available for Interest Only payments
  • Options available for affluent customers with tricky finances, such as self-employed borrowers, or newly graduated doctors

We look forward to assisting you with your Jumbo loan mortgage needs.

 

 

Disclaimer:  Mortgage options are funded by 3rd party Lenders, and all underwriting requirements are based on 3rd party Lenders and Investors.  Guidelines and mortgage options requirements and are subject to change.  This is not a promise or commitment for a mortgage loan. Mortgage loan options may not be available in all States. For full licensing information, go to:  www.nmlsconsumeraccess.org.    

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LISA HOME MORTGAGE, LLC. NMLS 1758932. Full licensing information, go to: NMLSConsumerAccess.org. Equal Housing Opportunity. This Licensee is performing acts for which a Mortgage Broker license is required. LISA HOME MORTGAGE, LLC, DBA LISA HOME MORTGAGE. The content in this advertisement is for informational purposes only. This is not a promise for a mortgage. This is not an offer for an extension of credit or a commitment to lend. Loan Approval is not guaranteed and is subject to lender review of information. All loans are subject to underwriting guidelines and guidelines are subject to change without notice. All loan options are funded through 3rd party Lenders. Loan descriptions are based on associated Lenders, Investors, and underwriting requirements. Loan is only Approved when the lender has issued an approval in writing. Specified rates are subject to change without notice due to market conditions. LISA HOME MORTGAGE is approved to broker FHA and VA loans to approved lenders. LISA HOME MORTGAGE is not affiliated with any government agency. Loan programs may not be available in all States. Licensed by the Pennsylvania Department of Banking - License 71074; Delaware Broker - License 03114; California Department of Financial Protection and Innovation Financing Law - License 60DBO-124075; Colorado Division of Real Estate Mortgage Company Registration; Alabama State Banking Department Mortgage Brokers - License 23071; Louisiana Residential Mortgage Lending License Office of Financial Institutions – License 1758932; Texas Department of Savings and Mortgage Lending Mortgage Company - License 1758932.