As home prices continue to go up and the need for people to have their dreams homes with a lot of space, there is more need for home loans that exceed the Federal Housing Finance Agency conforming limits, otherwise known as a Jumbo loan.
Also called non-conforming conventional mortgages, Jumbo loans are considered riskier for lenders because these loans can’t be guaranteed by Fannie Mae and Freddie Mac, meaning the lender is not protected from losses if a borrower defaults. Jumbo loans are typically available with either a fixed interest rate or an adjustable rate, and they come with a variety of terms.
The rules and requirements for Jumbo loans are different than conventional loans.
Did you know? We have a Jumbo mortgage product that is compatible with our 2-1 seller-paid rate buydown solution? This will help make the beginning of your mortgage more affordable! Learn more at the seller-paid rate buydown solution page and combat this period of higher interest rates using seller-paid closing costs.
Jumbo Loan Lender for a Single-Family Purchase
Note: Using Scott Buehler as your Jumbo loan lender will allow you access to 9 different Jumbo loan investors and solutions. It is highly recommended to share with Scott your Jumbo loan goals to see if there’s a Jumbo loan program best suited towards those goals.
Many restrictions apply for various Utah and California Jumbo loan solutions that we make available. Not all that apply will qualify.
- Popular: No MI Option: Maximum financing: 89.99% loan-to-value up to $1.5M.
- Maximum financing: 80% loan-to-value up to $2.5M.
- Maximum financing: 75% loan-to-value up to $3M.
- Credit scores as low as 660.
- Some second home options available.
- Competitive wholesale interest rates.
- Up-front origination fee required.
- Loans beyond $726,200 for those who qualify.
- 30-year and 15-year fixed available.
- Debt-to-income ratios up to 45% depending on down payment.
- SOFR-Indexed ARMs: 10/6, 7/6, 5/6 available.
I Need a Jumbo Mortgage Lender for a Multi-Family Purchase or Refinance
We have jumbo mortgage solutions for primary and investment multi-family residences up to 4 units. We also have second home solutions.
Whether you are wanting to buy a large single-family or a quadplex property, whether occupying as a primary residence or buying as an investment, Scott Buehler would be honored to be your preferred Jumbo mortgage lender!
What Are the Advantages of a Jumbo Loan?
There are several advantages to using a jumbo mortgage with a jumbo loan lender:
- Higher loan limits: Jumbo mortgages allow borrowers to finance more expensive properties, which can be particularly useful in high-cost areas where property values are significantly higher than the conforming loan limits.
- More flexible underwriting: Jumbo mortgages often have more flexible underwriting standards than conforming loans, which means that borrowers may be able to qualify for a jumbo mortgage even if they do not meet the strictest credit and income requirements.
- Potential for lower rates: Jumbo mortgages may be offered at lower interest rates than conforming loans, particularly for borrowers with excellent credit and a strong financial profile.
- Ability to finance a higher-priced property: If you are looking to purchase a more expensive property and do not have the cash on hand to make a large down payment, a jumbo mortgage can help you finance the purchase.
It’s important to note that while jumbo mortgages can offer some advantages, they also come with some additional risks and potential drawbacks. Borrowers may need to make a larger down payment, and jumbo mortgages may have higher interest rates and more stringent underwriting requirements than conforming loans. It’s important to carefully consider your financial situation and the terms of the mortgage before committing to a jumbo mortgage.
Information about Utah, Nevada, Arizona or California Jumbo Loans
Scott Buehler offers delegated and non-delegated Jumbo mortgage solutions in Utah, Arizona, Nevada and California. Be sure to ask about the Northpointe Interest-Only jumbo mortgage up to $1.5M with 10 years of interest only payments and 20 years of fully amortizing payments with 80% loan-to-value.
Using Scott Buehler as your Jumbo loan lender will grant access to the above program and many other solutions. Call today! (435) 590-1019.
Disclaimer: Loan terms and limits subject to change. This page is meant for educational purposes and is not a commitment to lend. To qualify for a home loan, please speak to Scott Buehler or apply online.