Jumbo loans and Super Jumbo loans can be used to buy or refinance a home, and they offer borrowers greater financing flexibility than conventional mortgages.
Jumbo Loan Overview
Sometimes traditional loans aren’t enough to buy the home you really want. A Jumbo loan is a mortgage that can exceed Fannie Mae and Freddie Mac’s conforming loan limits of $424,100, or up to $637,150 in some high-cost areas. Also known as non-conforming loans, Jumbo loans and Super Jumbo loans offer the flexibility of borrowing with less restrictions.
Jumbo Loan Benefits
Flexible terms: Your loan, the way you want it, with loan options up to $15 Million
Ratios: Higher debt to income ratio allowed
Non-occupying co-borrowers allowed: A family member or friend who won’t be living in the home can co-sign to help you qualify
Options up to 90% LTV: We have a variety of programs available, get preapproved today and start shopping tonight
Fixed and ARM programs available
Refinancing a Jumbo Loan:
Lower your interest rate and monthly payment: Stay on track with your financial goals
Change the terms of your loan: Pay off your mortgage sooner, build equity faster, ask about our available programs
Get up to $35,000 with cash out refinancing: Pay off high-interest debt, finance expenses, remodel, or spend as you wish
Refinance into a Jumbo ARM loan: Enjoy your savings up front
Jumbo Loan Requirements
Jumbo loans are available for primary residences, vacation homes, or investment properties.
Loan amount may exceed the traditional loan limit of $424,100, or up to $636,150 in some areas
Low down payments: You won’t need a large down payment to get into the home of your dreams
Ratios: With a Jumbo Loan, you can incur a higher debt to income ratio while still enjoying competitive interest rates and loan terms
Flexible terms: New American Funding offers several loan terms based on your goals and qualifications
Jumbo Loan Options
A Fixed Rate Jumbo loan offers the security of a stable monthly payment
Get a Jumbo ARM loan and enjoy upfront savings with initial lower payments
An Interest Only Jumbo loan allows borrowers to make payments toward only the interest portion of the loan