How Jumbo Loans Can Save You Money
If you’re considering purchasing a home that falls outside of the traditional lending guidelines, a jumbo loan could be a good option for you. Jumbo loans are available in both fixed-rate and adjustable-rate mortgage options, and can often be used to finance luxury homes or properties in high-priced real estate markets.
While jumbo loans typically carry higher interest rates than smaller conforming loans, they can still offer significant savings compared to other financing options. For example, jumbo loans may allow you to avoid paying private mortgage insurance (PMI), which can add several hundred dollars to your monthly payments.
Jumbo loans can also be a good option if you’re self-employed or have income from sources that can’t be easily verified by lenders. That’s because jumbo loans are often underwritten using alternative documentation, such as bank statements or asset depletion calculations.
How Jumbo Loans Can Save You Money
If you’re considering purchasing a home that falls outside of the traditional lending guidelines, a jumbo loan could be a good option for you. Jumbo loans are available in both fixed-rate and adjustable-rate mortgage options, and can often be used to finance luxury homes or properties in high-priced real estate markets.
While jumbo loans typically come with higher interest rates than smaller conforming loans, they can still offer significant savings compared to other financing options. For example, jumbo loans may allow you to avoid paying private mortgage insurance (PMI), which can add several hundred dollars to your monthly payments.
Jumbo loans can also be a good option if you’re self-employed or have income from sources that can’t be easily verified by lenders. That’s because jumbo loans are often underwritten using alternative documentation, such as bank statements or asset depletion calculations.
Jumbo Loans – Jumbo Mortgage Loan – jumboloans.com
A jumbo loan is a mortgage with a loan amount that exceeds the limit set by the Federal Housing Finance Agency (FHFA). In most counties of the US, the jumbo loan limit is $417,000. Jumboloans.com is your source for jumbo mortgages and jumbo mortgage rates.
Jumbo loans can save you money
If you’re considering purchasing a home that falls outside of the traditional lending guidelines, a jumbo loan could be a good option for you. Jumbo loans are available in both fixed-rate and adjustable-rate mortgage options, and can often be used to finance luxury homes or properties in high-priced real estate markets.
While jumbo loans typically carry higher interest rates than smaller conforming loans, they can still offer significant savings compared to other financing options. For example, jumbo loans may allow you to avoid paying private mortgage insurance (PMI), which can add several hundred dollars to your monthly payments.
Jumbo loans can also be a good option if you’re self-employed or have income from sources that can’t be easily verified by lenders. That’s because jumbo loans are often underwritten using alternative documentation, such as bank statements or asset depletion calculations.
How Jumbo Loans Can Benefit You
When it comes to home financing, a jumbo loan could offer some big advantages.
For starters, jumbo loans come in both fixed-rate and adjustable-rate mortgage options. So whether you’re looking for the stability of monthly payments or the flexibility to make lower interest payments at first and then more later, a jumbo loan might be right for you.
Jumbo loans might also help you avoid having to pay private mortgage insurance (PMI). But it can add several hundred dollars to your monthly payments. Jumbo loans typically don’t require PMI because the lender knows they can sell the house for enough to cover the loan amount if you can’t make your payments.
Lastly, jumbo loans are often underwritten using alternative documentation. That’s helpful if you’re self-employed or have income from other sources that are hard to verify. With a jumbo loan, the lender might be more likely to use bank statements or asset depletion calculations when reviewing your application.
Use jumboloans.com to compare jumbo mortgage rates from multiple lenders and get pre-approved for a jumbo loan today.
