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Jumbo

Dream homes can mean big loans, and a Jumbo home loan can make those dream homes become a reality.

When the home of your dreams is in an extremely desirable location, your growing family demands a larger home or you desire luxury amenities that rival most five-star resorts, a Jumbo loan may be right for you.

Jumbo loans are also considered non-conforming loans because they exceed the conforming loan limit of $484,350. Interest rates on Jumbo loans tend to be higher, due to the increased risk associated with larger loan amounts, and because the loans cannot be sold to Freddie Mac or Fannie Mae on the secondary market. Some borrowers may choose to pay a larger down payment to get their loan size below the conforming limit. Other borrowers are comfortable paying a higher monthly payment instead of putting the additional money down. For these borrowers with higher monthly income but less available down payment, a Jumbo loan is the perfect solution. Are you a veteran, active duty or surviving spouse of a veteran or service member? Did you know there is a way to obtain a Jumbo VA loan with reduced down payments when compared to a traditional Jumbo loan?  Learn more here

What You Need to Know

Our home loan advisors at Scissortail Financial Home Loans will help you determine if your loan amount falls outside of the conventional limits. While piggyback second mortgages and larger down payments could bring your loan amount down to conventional limits, you may choose to utilize a Jumbo loan instead. We will help you understand your options so you can decide which loan will fit your needs.

Call us today to take the first step.

You will be glad you did.

The outcome in the end was even better than we originally talked-
Thanks for all your help in getting my loan process so efficiently! I appreciate you keeping me in the loop each step of the way and finding the best fit for my loan needs. The closing process went very smoothly and quickly which was a nice change for me given my past experiences. The outcome in the end was even better than we originally talked and I very much appreciate you giving me the best service and loan available.

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