Jumbo Loans
Jumbo loans are conventional loan that exceed the local conforming loan limits set by Fannie Mae and Freddie Mac. Because they are considered non-conforming, most lenders offer these loans with higher interest rates and require a 20% down-payment. GlenLakes Mortgage offers Jumbo loans with very competitive rates, and as little as 10% down.
Jumbo Loans
Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac Conventional loan limits. In most of the U.S. this limit is $766,550, so any loan amount above that is considered a Jumbo. Rates on jumbo loans are typically higher than conforming loans. Jumbo Home Loans are typically used to buy more expensive homes and high-end custom construction homes. GlenLakes Mortgage offers a wide variety of Jumbo loan options including fixed and adjustable rate, and programs with as little as 10% down, where most lenders require 20%.
Advantages of Jumbo Loans
Clients are looking for high priced properties without the ability to pay cash.
Individuals are buying investment properties or primary resident.
Clients are looking to upgrade to bigger homes.
Clients without 20% down for these loans.
Jumbo Home Loans
Additional Details
GlenLakes Mortgage offers a range of fixed and adjustable rate Jumbo Mortgage options. The more financially stable and savvy buyer purchasing a more expensive home could greatly benefit from an adjustable rate Jumbo mortgage. GlenLakes Mortgage has many options with intro fixed rates for 3, 5, and even the first seven years.
Offers low origination fees.
Offers 90% loan to value financing options.
Can do loans up to $3,500,000.
Offers both fixed and adjustable mortgage option.
Apply for a Jumbo Loan
At GlenLakes Mortgage we have all the resources needed to make your dream a reality. Are you ready to move forward with your next home purchase? One of our experienced mortgage professionals will guide you every step of the way. Apply now and find out if you qualify for a Jumbo loan.
FAQs about Jumbo Home Loans
Any loan exceeding the maximum conventional loan amount of $766,550 is considered a Jumbo loan. The maximum you can lend through a Jumbo loan depends on the investor. These limits are set by Fannie Mae and Freddie Mac.
Qualifying for a Jumbo loan has various requirements as some of those include higher credit standards, lower debt-to-income ratios, higher income, higher asset amount, etc.
Jumbo home loans require a minimum down payment of 10% of the loan amount.
Other Loan Types
Contact Us
Customer Service
- (352) 200-2546
- info@glenlakesmortgage.com