The term “Jumbo” refers to loans with a loan amount higher than $510,400. Jumbo programs have been limited over the last year however, there are still some good ones available. The larger the loan amount the larger the risk, at least that is what the lenders are thinking these days. With larger loan amounts prepare yourself for the possibility of needing additional documentation to close your loan.
With Jumbo Loans every file is looked at as a case by case basis. If you need financing between $510,400 and $2,000,000 please Contact Us today and one of our experienced mortgage professionals will help you determine exactly what program works best for you.