Jumbo Loans

Jumbo loans are designed for financing properties that are too expensive for conventional conforming loan limits. This type of loan is best for borrowers needing larger loan amounts and who have excellent credit and substantial assets. The jumbo loans page will detail the criteria, rates, and terms associated with securing a jumbo loan for luxury properties or in high-cost areas.

Loan Requirements

Recommended loan requirements

  • Loan amount exceeds $647,200.
  • Credit score above 700 recommended.
  • Lower debt-to-income ratio, typically below 43%.
  • Larger down payment, often 10-20%.
  • In Texas, a jumbo loan is one that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA), typically loans over $647,200.

  • Jumbo loans often have higher interest rates than conventional loans due to the increased risk associated with larger loan amounts.

  • Some lenders may offer jumbo loans with 10% down, but these typically require a higher credit score and may have stricter income and asset verification processes.

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