Jumbo Home Loans can make high-end home purchases possible. When a loan amount exceeds the Fannie Mae and Freddie Mac conforming loan limit of $647,200 it is considered a Jumbo loan, Jumbo Loans can offer high-end financing that a traditional loan can’t.
Over the past few years, some lenders have decreased their Jumbo Loan offerings and have made them harder to obtain. Meanwhile, we’ve continued to expand our Prime Jumbo loan options. Our Prime Jumbo loan options offer competitive rates with simplified guidelines.
With a jumbo mortgage, you’ll get great rates even on a large home purchase. With a choice between fixed or adjustable rates, our jumbo loans offer maximum flexibility for home financing for larger loans. We decided to take it a step further with our recent roll out of our Jumbo loan options that allows a borrower a max loan to value of 96.5% with no mortgage insurance!
The Jumbo Loan Process
Here’s how our jumbo home loans process works:
- Complete our simple Jumbo Loan Qualifier
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs
Have questions? Give us a call! We’re here to make the jumbo loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our Jumbo Loan Qualifier.
JUMBO LOANÂ PRODUCTS
We have multiple Prime Jumbo products designed to help you win vs. big banks. Each is talored to borrowers with different circumstances – however, they all have a few similarities:
- Loan amounts starting at $1 over the county loan limit
- No MIÂ required
- Restricted Stock Unit (RSU) income accepted
- Available on Texas Conversion loans
PRIME JUMBO RELEASED (30-YEARÂ FIXED)
- Loan amounts up to $3M
- 680+ FICO and up to 45%Â DTI
- Up to 89.99%Â LTV
- Eligible on primary, second and investment properties for purchases, rate/term and cash-out refinances
- One appraisal required for loans up to $2M*
- Two appraisals required for loans over $2M*
- Loan amounts greater than $2M require 18 months of reserves in addition to any reserves required by AUS
PRIME JUMBO (15- OR 30-YEARÂ FIXED)
- Loan amounts up to $3M
- 680+ FICO and up to 45%Â DTI
- Up to 89.99% LTV and no MIÂ required
- UWM services these loans exclusively
- Borrower solicitation protection
- Eligible on primary, second and investment properties for purchases, rate/term and cash-out refinances
- One appraisal required for purchases up to $3M and refinances up to $2M*
- Two appraisals required for refinances over $2M*
- Loan amounts greater than $2M require 18 months of reserves in addition to any reserves required by AUS
PRIME JUMBO ARMS (5-, 7- ANDÂ 10-YEAR)
- Loan amounts up to $3M
- 680+ FICO and up to 45%Â DTI
- Up to 80%Â LTV
- Eligible on primary, second and investment properties for purchases, rate/term and cash-out refinances
- One appraisal required for purchase up to $3M and refinances up to $2M*
- Two appraisals required for refinances over $2M*
- Loan amounts greater than $2M require 18 months of reserves in addition to any reserves required by AUS
PRIME JUMBO INTEREST ONLY (30-YEARÂ FIXED)
- Loan amounts up to $3M
- 700+ FICO and up to 43%Â DTI
- Up to 80%Â LTV
- 10-year interest only, 20-year amortization period
- Eligible for primary and second homes for purchases and rate/term refinances
- One appraisal required for purchases up to $3M and refinances up to $2M*
- Two appraisals required for refinances over $2M*
- Loan amounts up to $1M require 12 months of reserves in addition to any reserves required by AUS
- Loan amounts over $1M require 24 months of reserves in addition to any reserves required by AUS
PRIME JUMBO MAX (30-YEARÂ FIXED)
- Loan amounts up to $2.5M
- 700+ FICO and up to 43%Â DTI
- Up to 80%Â LTV
- Eligible for primary and second homes for purchases and rate/term and cash-out refinances
- One appraisal required for loans up to $2M*
- Two appraisals required for loans over $2M*
- For primary purchase, rate and term refinance loans up to $1.5M 12 months reserves required
- For primary purchase, rate and term and cash out refinance (up to $300,000 cash back) minimum 12 months reserves required
- For second home purchase, rate and term and cash out refinance (up to $300,000 cash back) minimum 18 months reserves required
- For primary cash out refinance (up to $500,000 cash back) 24 months reserves required
Get started today!
Fill out the questionnaire on this page to start a discussion about your mortgage needs today!
