We will walk you through the process of applying for jumbo home loans.
When you are getting ready to purchase the luxury home you want for your family, one of the issues you can run into is finding a reliable mortgage professional who is experienced with jumbo home loans to walk you through this unique process. At Mortgages by Scott, we have the expertise to walk you through the home loan requirements for this type of mortgage. Whether you are purchasing your first home, a second home, or an investment property, you can count on us to help take the stress off you during the process of applying for jumbo home loans.
Jumbo home loans are used to purchase luxury, high-valued properties that require more funds than what conventional mortgages are designed to finance. Because of the high loan amount, borrowers can expect to need to meet stricter underwriting guidelines. You can generally expect to need a down payment of at least 10% and have both a high credit score and low debt-to-income ratio. We do have jumbo mortgage loans with higher debt-to-income ratio and lower credit score requirements as well, though. Other qualifying methods will be similar to mortgage amounts that are under the conforming loan limit.
We understand that the nature of jumbo home loans makes them more complex in some ways, but rest assured that we will address all your questions. We will look at what would be the best options for your situation, such as whether 30-year fixed jumbo home loans would be preferable to a 15-year one for the Huntersville, North Carolina home you wish to purchase. We will go over current interest rates, if upfront costs are involved, and other factors you should know.
As a Licensed Mortgage Advisor with Homebridge Financial, we are confident that our diverse range of product offerings will make it possible to suit your needs as you move forward with your home purchasing plans. Reach out today to get started and learn more about jumbo home loans.