Jumbo Mortgage Programs

If you need a mortgage loan larger than $417,000, then you need a Jumbo mortgage loan.

What Are Jumbo Mortgages?

Jumbo mortgages are loans above the conventional conforming loan limit of $417,000 (or $625,500 in Alaska and Hawaii) as set by Freddie Mac and Fannie Mae.
Jumbo mortgages are a higher risk for lender so their associated interest rates are usually higher than a conforming mortgage loan.
These loans generally also require the down payment to be a higher percentage of the home’s price when compared to traditional conventional loan programs.

How Long Are Jumbo Mortgages?

A jumbo mortgage can feature either a fixed rate or adjustable rate. Therefore, check out the fixed-rate mortgage page or the adjustable-rate mortgage page for the complete descriptions of the possible terms offered for each.

Who Are Jumbo Mortgages For?

Individuals whose loan needs exceed $417,000.

Remember that the mortgage loan programs available to you will depend on a number of different factors including your financial situation and location.