Purchasing or refinancing property with a high value?
When the value of a property is high and a loan will exceed the allowable conforming limits, a Jumbo Home Loan can fit the need. As a mortgage product, a jumbo loan can help the borrower purchase or refinance property with a higher price. Because this loan is not backed by any government agency such as Fannie Mae or Freddie Mac, the Federal Housing Finance Agency (FHFA) does not set any limit.
More Specifics on a Jumbo Home Loan:
- Loan amounts up to $3 Million
- Available for primary, secondary and investment properties
- Single family, townhomes, warrantable and non-warrantable condos
- Previous foreclosure, deed-in-lieu, bankruptcy or short sale may require further documentation
- Available for purchase, cash out and rate-term refinance