What is a Jumbo Loan?
A jumbo loan is a non-conforming loan for single-family homes with loan amounts greater than $726,200. In Arizona, the conforming loan limit is $726,200. In certain high-cost areas, like Alaska and Hawaii, the conforming limit is up to $1,089,300. You may still be able to secure a conforming fixed rate or an ARM (adjustable rate mortgage) if the loan amount falls below those amounts. To qualify for a jumbo mortgage loan, you must meet the established guidelines for credit score, income and other personal financial information.
Get more buying power with Jumbo loans
Jumbo loans allow a homebuyer to borrow more than a conventional or government loan, such as FHA or VA. If you want to buy a home that is listed above the conventional loan limit for your area, a Jumbo loan can be a good option.
Call Us Now: 520-303-5620
Who should get a Jumbo mortgage?
- Homebuyers that want to buy a property exceeding county limits
- Individuals with strong credit scores, assets and income documentation
Equal Opportunity Lender, We are pledged to the letter and spirit of the United States policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
The information provided herein has been prepared by a third party company and has been distributed for education purposes only. The positions, strategies or opinions of the author do not necessarily represent the positions, strategies or opinions of Patriot Pacific Financial Corp or its affiliates. Each loan is subject to underwriter final approval. All information, loan programs, interest rates, terms and conditions are subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction