Jumbo Mortgage Programs

Jumbo Mortgages Information

With home prices soaring in many parts of the country, a conventional mortgage doesn’t provide adequate funds to purchase the home you choose. A jumbo mortgage may be required to meet your needs. In most cases, a small increase in the interest rate is required for jumbo mortgages, the amount which is determined by loan size, equity, credit and documentation.

A home loan is classified as a Jumbo Mortgage if it is between $417,000 and $650,000 (for the year 2008) and a Non-Conforming Jumbo if it exceeds $650,000.  Jumbo mortgages are available in fixed and adjustable rate terms. Speak to a loan officer for detailed information regarding the maximum loan-to-value permitted for your purchase or refinance.