Jumbo Loans

Jumbo Smart loans are great for people who need to borrow up to $3 million to buy or refinance a home.

If you need a loan greater than the conventional loan limit in your area ($647,200 in most places, but up to $970,800 in high-cost areas), then our Jumbo Smart loan may be a good option for you.

Jumbo loans, also called nonconforming loans, don’t conform to Fannie Mae or Freddie Mac’s purchasing standards.

Lenders determine jumbo mortgage rates based on your down payment amount, credit score and a number of other external factors.

Jumbo Loans are very similar to conforming loans as far as a process. As a result of the higher loan balances, they typically have slightly stricter qualifying guidelines and slightly higher rates.

• Down payment greater than 10% (exact amount depends on loan purpose and property occupancy)
• Minimum FICO^® Score of 680
• Debt-to-income ratio (DTI) of no more than 45%
• 3% – 6% of the purchase price for closing costs

Yes, you can refinance an adjustable-rate mortgage. When interest rates are low, refinancing an ARM can give you the stability of the same monthly payment for years to come. Refinancing could also help you consolidate debt or pay off your mortgage faster. Apply online or contact our experts to get started.