Jumbo Loans and High Balance Conventional Loans

Jumbo Loan

Jumbo Loans

Jumbo loans do not conform to Fannie Mae and Freddie Mac conforming guidelines due to mortgages being larger than the conforming limits. Normally, lenders require 20% down payment, but we do not.

  • Borrower contribution minimum of 5%.
    • If appraiser notes a decline market, reduce the loan to value by 5%.
  • Property types include single family (detached, semi attached, attached), PUD (detached, attached), and warrantable condominiums (detached, attached).
  • Occupancy allows 1-4 unit primary residence (First Time Homebuyer is limited to a primary residence), 1 unit second home, and 1 unit investment.
  • The minimum loan amount is the conforming limit (conventional loan amount limit)+$1.
  • For jumbo loans, lenders set their own lending guidelines. In order to get the lowest rate possible, borrowers should put as much as a down payment as possible.

High Balance Conventional Loan Amount

Ask about our High Balance Conventional loan amount program that has:

  • Loan amount of up to $679,650
  • Eligible for primary and second homes
  • More competitive rates, easier guidelines, and fewer documents than jumbo loans
  • Faster turn times

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