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Jumbo Loans

Loan Term: 30 / 25 / 20 / 15 / 10 years
Max Loan Amount: Over $417,000

Minimum Down:
5% of purchase price
Available for: Owner-occupied primary residence, second home, 1-4 unit properties


Loan Features:

Fixed interest rates and monthly payments
Your monthly principle and interest payment will never change for the life of the loan. Get the peace of mind that you are protected from any future increases in interest rates.

More buying power
Larger loan amounts add to your buying power and allow you to buy more expensive homes.

Flexibility
We offer jumbo loan amounts on most all our conventional loans. So, whether you want a fixed or adjustable rate jumbo loan, we can customize a jumbo loan for you.

Lock your rate up to 45 days before closing
If you believe that rates are going to get worse before you can close on your new home, we can lock the low interest rate for you today. We can hold this locked rate for up to 45 days.

Consider choosing this loan if:


You prefer predictable monthly payments (no surprises).


You need to borrow more than $322,700.


You have fixed monthly incomes that you do not expect to change while you are in this house, and you can handle larger monthly payments.

To Proceed:
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professional about this loan.



Other
Jumbo Mortgages:
Jumbo Loans

(click on the loan to learn more about it)
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Learn more (key terms and concepts)


Conventional Conforming Loans
Conventional Conforming Loans are loans that conform to national guidelines established by the Federal National Mortgage Association (FNMA or Fannie Mae) or the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac). These guidelines insure the security of your mortgage and therefore the security of your home.

Minimum Loan Amount
Jumbo Loans are conventional loans that are larger than conforming loan limits (any loan over $417,000 for a single-family home)


Fixed Rate Loans
 Fixed Rate conventional loans are mortgages with an interest rate that does not vary over the term of the loan. The term of loan can vary in length from 10 to 30 years. In general, you might choose to select a fixed rate loan if you thought interest rates were going to rise in the future. This way your interest rate will stay fixed for the life of the loan, and not subject to future rate movements.



Term Options
 The Loan Term is the number of years it will take to pay the loan back in full. Most commonly, mortgage terms range from 10 to 30 years. For our purposes, we will compare a 15 and a 30 year loan:

30 year loan
15 year loan
Extends principal payments
over 30 yrs.
(lowest payment available)

pay more total interest
when you pay over 30 years


 Extends principal payments
over 15 yrs.
(higher monthly payment)

Pay less total interest
by paying over 15 years

Build equity faster

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All rights reserved. Revised: October 16, 2000.