Jumbo Mortgage Loans

When a home loan is greater than the $424,100 conforming mortgage limit, we call it a jumbo mortgage loan. These larger loan amounts assist home buyers in financing higher-value properties and make buying or refinancing a reality without the very large down payment that’s otherwise needed when tied to the conventional conforming loan limit.

Combined with Accunet’s versatile fixed and adjustable rate options, jumbo mortgage loans are a great way to upgrade to a more luxurious home. And when rates are low, even first-time home buyers may find that they can afford more house than they thought. If you’re shopping for homes in a higher-price range, then a jumbo loan might give you the best opportunity to do so. But you first need to know if you qualify.

Jumbo loan qualifications

  • We need proof of your ability to manage a jumbo loan. One way for us to measure this is by looking at your debt-to-income ratio. How high or low the ratio is will help us determine if a jumbo loan is really in your best interest.
  • Income documentation, tax returns and asset verification documents will be required. A complete profile of your financial situation will need to be documented.
  • You can receive better and better pricing at 20 point increments all the way up to a 780 FICO score.
  • Jumbo loan credit score requirements will depend on your individual situation, but generally speaking, the higher the credit score the better. Having a credit score of 720 or higher will improve your chances of qualifying and give you the best rates. Contact us today for an estimate.

Accunet Mortgage provides home buyers with expert advice, competitive rates and low closing costs. Our loan consultants work closely with clients to ensure that the approval process is straightforward and transparent. We welcome every challenge we’re faced with – whether it’s helping you determine the best loan product (ARM vs. Fixed-Rate) or best closing cost option, we’ll make sure your experience is stress-free and valuable.