Mortgage options for higher loan amounts
A Mortgage Option That Fits Your Home
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Our team of dedicated Senior Loan Advisors are here to help you find the right mortgage solution for your situation.
What is a
How Does a Jumbo
Jumbo Mortgages are similar to Conventional Mortgages, but they allow borrowers to finance greater loan amounts compared to Conventional Mortgages. These loan amounts vary between states, on a county level. Generally, the more expensive counties offer higher loan amount limits. If you’re curious about loan limits in your county, talk to a Newfi Senior Loan Advisor today!
Frequently Asked Questions
- Permits Higher Loan Amounts than Conventional Mortgages
- Flexible Rates and Terms Available
- Finance Primary Residences, Second Homes, and Investment Properties Using Jumbo Loans
- Interest Rates May be Higher than Conventional Loans
- Higher Down Payments May be Required
- Lower Debt-to-Income (DTI) May be Required
- Higher Credit Scores May be Required — Typically 660 or More
- 15-, 30-, and 40-Year Fixed Rate Mortgages
- 30-Year Adjustable Rate Mortgages
- 30 and 40-Year Fixed Rate Interest-Only Mortgages
Down payment requirements will vary depending on other factors, such as your credit score and DTI. However, you may be able to put as little as 10% with a Jumbo Mortgage.
Because everyone has their own unique situation, we recommend speaking to a loan advisor about your options as your first step. Go to newfi.com/get-started for a free consultation with one of our licensed loan advisors to learn about what documentation and qualifications you may need!