Jumbo Mortgages

Do you have your eye on a luxury property?

A jumbo mortgage could make you the proud owner of your dream property. Jumbo mortgages provide a financing solution that exceeds loan limits set by the Federal Housing Finance Agency (FHFA).

Jumbo loans offer the opportunity to break into the higher priced real estate market and can be used to finance a primary residence, rental property or vacation home.

Jumbo Mortgages

The requirements to apply for a jumbo mortgage include the following:

  • Good credit score
  • Low debt-to-income ratio
  • Sufficient income and funds to cover unexpected emergencies

Qualifying for jumbo mortgages doesn’t just depend on income earnings. The loan amount you ultimately qualify for depends on your available assets, credit score, and the value of the house you want to purchase.

beautiful two story residential family home

happy couple applying for a home loan at home

How To Qualify

To qualify for a jumbo mortgage if you’re self-employed, you should have liquid assets and cash reserves. You should include at least three months of bank statements and two years’ tax returns to support your application.

Once your jumbo loan gets approved, you can choose either a fixed or adjustable rate. If you provide the minimum required deposit, you may not be required to carry private mortgage insurance.

ARE YOU READY TO Take the first step towards your mortgage goals?

Contact us or call 301-898-4000 to speak with the team today! Ready to move forward?

Apply Now