Jumbo Loans
A jumbo loan is a loan that may have high credit quality, but is in an amount above conventional conforming loan limits
What is a Jumbo Loan?
If you have your sights set on a home that costs close to half a million dollars or more—and you don't have that much sitting in a bank account—you're probably going to need a jumbo mortgage. And if you’re trying to land one, you’ll face much more rigorous credit requirements than homeowners applying for a conventional loan. That’s because jumbo loans carry more credit risk for the lender since there is no guarantee by Fannie Mae or Freddie Mac. There's also more risk because more money is involved.
How do I get a Jumbo Loan?
Like an loan you have to meet certain requirements to qualify for a jumbo loan.
