Ready to invest in your Future Dream home?
Our team is here to craft a loan solution that aligns with your vision. We offer robust financing options to turn your dream project into reality. Explore the key attributes of our Jumbo Purchase Loan below.
Jumbo Purchase Loan
- Higher loan amounts than conventional types
- We will ask for higher reserve requirements
- There will be more restrictive debt to income ratio conditions
- You can choose your term loan between 8 and 30 years
Is the Jumbo Purchase Loan a perfect fit for you?
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If this loan doesn't meet your needs, don't worry.
Explore our other available options.
Conventional Purchase Loan
- As low as 1% down for home purchases.
- Eliminate mortgage insurance with a 20% down payment.
- Choose your own mortgage term, from 8 to 30 years.
FHA Purchase Loan
- Ideal for first-time buyers with minimal down payments.
- Flexible credit qualifications to assist a broader client base.
- Continued mortgage insurance for financial protection.
- Terms from 8 to 30 years, designed to fit your life stage.
VA Purchase Loan
- Exclusively for service members, from active duty to veterans.
- Zero down payment — a token of gratitude for your service.
- Skip the mortgage insurance; we’ve got you covered.
- Simplified credit qualifications with terms from 8 to 30 years.
Frequently Asked Questions About Jumbo Purchase Loans
If you can’t find the answer you’re seeking, don’t hesitate to contact one of our certified loan officers.
A Jumbo Loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA), offering a way to finance high-value properties.
Borrowers need a lower debt-to-income ratio, a higher credit score, and substantial assets to qualify.
It enables purchasing luxury properties or expensive homes in a competitive real estate market without the need for multiple mortgages.
Apply through an experienced lender. The process involves a rigorous financial assessment and property appraisal.
You’ll need comprehensive financial documentation, including tax returns, W-2s, bank statements, assets, and possibly more detailed financial information.
Yes, it often requires larger down payments, sometimes 10-30% of the home’s purchase price, depending on the lender.
It can be used for second homes, though the requirements may be stricter compared to primary residences.
The closing process can be longer due to the larger loan amounts and the more detailed underwriting process, often ranging from 20 to 45 days.