Jumbo Loans

Jumbo loans are designed for higher net worth individuals who value their credit worthiness.

We understand that every borrower has unique needs when it comes to financing their home. For those who need to borrow more than the conforming loan limit, a jumbo loan may be the right solution.

A jumbo loan is a mortgage loan that exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA). In most parts of the United States, the conforming loan limit for 2023 is $726,200 for a single-family home. However, in areas with high housing costs, such as some major metropolitan areas, the conforming loan limit may be higher.

Here are some key features of jumbo loans:

  1. Higher loan amounts – Jumbo loans allow borrowers to borrow more money than they would be able to with a conforming loan. This can be helpful for borrowers who need to finance a more expensive home.
  2. Stricter eligibility requirements – Jumbo loans typically have stricter eligibility requirements than conforming loans. Borrowers may need to have a higher credit score, a lower debt-to-income ratio, and a larger down payment in order to qualify for a jumbo loan.
  3. Adjustable or fixed interest rates – Jumbo loans can be structured as either adjustable-rate mortgages (ARMs) or fixed-rate mortgages. Borrowers may choose between a shorter-term or longer-term loan and may have the option to pay interest-only for a period of time.
  4. Competitive interest rates – Despite the stricter eligibility requirements, jumbo loans often have competitive interest rates. This can help borrowers save money over the life of the loan.
  5. Additional requirements – Jumbo loans may require additional documentation, such as two years of tax returns, a recent pay stub, and bank statements. Borrowers should be prepared to provide additional documentation when applying for a jumbo loan.

At Intercontinental Ultimate Solutions, we have experience working with borrowers who need jumbo loans to finance their homes. Our team of experts can help you navigate the jumbo loan process and find the best loan options for your specific needs. We understand that the jumbo loan process can be complex, which is why we are here to guide you every step of the way.

If you are interested in a jumbo loan or have questions about whether this type of loan is right for you, please don’t hesitate to contact us. We would be happy to help you explore your options and find the right loan for your needs. Click here to contact us or call (561) 717-6826 for a quote.

Additional restrictions may apply. Please inquire. All loans are subject to credit approval.