Project Description

Luxury Home



  • Fast, easy closings – 25 days or less

  • Great, fixed-rate and ARM loans available

  • Options available for primary, second and investment homes

  • Starting at 680 FICO, plus special low rates for 700+ FICO JUMBO HOME LOANS OVER $510,401



A jumbo loan is a mortgage  that is more than the conforming limit set by Fannie Mae and Freddie Mac. In 2018, the jumbo mortgage floor starts at $453,100 for most larger homes. This limit will vary depending on the median home price of your area so the more expensive area you live in, the higher the floor for a jumbo mortgage. The housing agencies also set a ceiling of $679,650, or 150 percent of the floor.

Lower jumbo rates

Jumbo mortgages have come a long way since the financial crisis, when many lenders had clamped down from offering them. Most traditional banks and online lenders now offer jumbo mortgages because they can sell it to investors in the secondary market. That demand in the secondary market translates into very good rates for borrowers.

The 30-year fixed rate for a jumbo mortgage averaged 4.15 percent for the past 52 weeks, the exact same rate as the 30-year fixed rate for a conforming mortgage.  But just five years ago, the 30-year fixed-rate for a jumbo mortgage was more than half of a percent higher than the fixed rate for a confirming loan.

Qualifying for a jumbo mortgage

While jumbo loans are cheaper to get, they may have some stricter qualification requirements. They are for higher-priced homes, which means you need to prove you have the steady income to pay it back, a good credit score, and are not swimming in debt.

A perfect borrower would typically need a credit score of at least 700, but some lenders will go as low as 660 depending on the loan amount.