Jumbo / High Balance Loans
- Loan over $424,100
- Purchase & Refinance
- 10% Min Down Payment
- Fixed & Adjustable Rates
- For Primary & Secondary Homes
Have excellent credit and looking to buy a home for more than $424,100? Then a jumbo loan may be right for you.
A jumbo loan, considered a non-conforming loan, is a loan for an amount that exceeds the conventional loan limit. This limit is determined by the Federal National Mortgage Association (FNMA) or Federal Home Loan Mortgage Corporation (FHLMC) guidelines. The limit for a conventional loan is currently $424,100.
Most jumbo loans are adjustable rate. This means that the interest rates on a jumbo loan will periodically reset to align with current market rates. Fixed-rate jumbo loans are where the interest rate remains set for the entire duration of the loan of until refinancing.