What is a Jumbo Loan?
A jumbo loan is a loan that exceeds the conforming loan limits as set by Fannie Mae and Freddie Mac. As of 2020, the limit is $510,400 for most of the US, apart from Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit is $765,600. Rates tend to be a bit higher on jumbo loans because lenders generally have a higher risk.
What makes Scott’s 14-Day Jumbo program different?
- Loan amounts up to $2,000,000
- Close within 14 days
- Compete with all cash with a pre-underwritten loan
- Simple interest loan (significantly lower than traditional jumbo loans)
- Low Fixed Rate for 5 years
- 700 minimum credit score
- Can use reserves to assist in qualifying for self-employed borrowers
- Reduced lender fees
- 30 Year term
- Complete our simple 14-day 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
We are here to make the jumbo home loan process a whole lot easier, with tools and expertise that will help guide you along the way. If you have additional questions, please schedule an appointment with Scott.
You can also call our office at (310) 456-4494 or email us at Team@ScottGriffin.com