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Conventional Mortgage Rates Up to $726,525 | Jumbo Loan Programs

byNicholas Auriemma, NMLS# 1455001
4 years ago
inPurchase, Refinance
Conventional Mortgage Rates Up to $726,525 Jumbo Loan Programs

Conventional Mortgage Rates Up to $726,525 | Jumbo Loan Programs

For some lenders, where the conforming loan limit ends the jumbo loan begins. The conventional high balance loan limits start at $1 above the county limits to $726,525. This loan program is available in 100% of U.S. counties with conventional mortgage rates.

A More Competitive Option

If your original loan was a jumbo mortgage, check to see if the loan amount falls in the category of a conventional high balance loan and refinance into conventional mortgage rates.

Borrowers that are looking to apply for a loan that is above $726,525, should take the jumbo route and understand that the guidelines vary by mortgage company. They are considered non-conforming loan and not backed by Freddie Mac or Fannie Mae.

Conventional High Balance Loan Program Benefits

  • The high balance loan program is not limited to counties, but now available to 100% of the U.S. counties with conventional mortgage rates.
  • With just 10% down payment, no mortgage insurance is required.
  • Typically, buying out mortgage insurance is cheaper than LPMI with no mortgage insurance certificate needed.
  • Faster, easier process, and more competitive rates than a jumbo mortgage.
  • A jumbo loan often comes with higher fees, more difficult guideline requirements, and often overlays.
  • Primary and secondary homes are eligible.
  • Refinance options available up to 80% loan-to-value.

Jumbo Loan Details

In mortgage terms, a jumbo mortgage is for borrowers looking for a home that exceed the loan limits set by the government-sponsored enterprises. Since jumbo loans are non-conforming, they vary by guidelines, interest rates, loan limits, and mortgage process.

  • With our Jumbo Elite program, we offer competitive pricing and faster turn times that allow the jumbo loan to close in 25 days or less.
  • Low down payment option beginning at 5%.
  • 1-4 units primary residence, 1 unit second home, and 1 unit investment properties.
  • Purchases, rate and term, and cash out options available.
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Nicholas Auriemma, NMLS# 1455001

Nicholas Auriemma, NMLS# 1455001

Nicholas Auriemma is a Loan Originator at Nationwide Mortgage & Realty, LLC, providing information on mortgages that can often be confusing even to real estate and mortgage professionals. Borrowers can be discouraged because mortgage professionals can be mistaken due to guidelines always changing, the extent of guidelines, their company having an overlay (stricter guideline), or other lenders not offering a loan program. Call or text Nick anytime at 630-779-8430 or email at nick@nationwidemtg.net.

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Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage & Realty, LLC is not acting on behalf of or at the direction of HUD/FHA or any government agency. CO: Check license status of your mortgage loan originator at www.dora.state.co.us/real-estate/index.htm. Also licensed in: CA, FL, IN, TN, VA, WI and TX: NMLS ID 276777. Illinois Residential Mortgage License | MB. 6760210. WA: Consumer Loan License MB-276777. GA: Georgia Residential Mortgage Licensee 60857

  • Home
  • Request Information
    • Apply Now
  • About Us
    • Career Opportunities
    • Contact Us
    • Meet the Team
  • Purchase
    • Conventional Loan
    • Condotel & Non-Warrantable
    • FHA Loan
    • FHA 203k
    • Fix & Flip
    • Investment
    • Jumbo & High Balance
    • New Construction
    • Non-QM Loans
    • USDA Loan
    • VA Purchase Loan
  • Refinance
    • Cash Out & Debt Consolidation
    • Conventional Refinance
    • Condotel & Non-Warrantable
    • FHA 203k
    • FHA Streamline Refinance
    • Investment
    • Non-QM Loans
    • Reverse Mortgage
    • VA IRRRL
  • Loan Process
    • Application Checklist
    • Credit Report
    • Home Buying Do’s and Don’ts
    • Interest Rates
    • Mortgage Calculator
  • Mortgage Blogs
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Email:
info@nationwidemtg.net
Nationwide Mortgage & Realty, LLC
​1 TransAm Plaza Drive Suite 300
​Oakbrook Terrace, IL 60181
NMLS # 276777
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