- Jumbo Loans:
Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes, and usually require a higher down payment than traditional loans.
Loans over the $417,000 conventional loan limit are considered jumbo loans. At First Liberty, our Jumbo loans go up to $2 million. Call (877) 711-0004 to see if you qualify for a jumbo loan!
Jumbo loans are more flexible than people think. Here’s some facts about jumbo loans you may not know:
• Did you know that FHA loans are available as a jumbo loan? Depending on where you live, you could put as little as 3.5% down with your jumbo loan, or get a cash-out refinance for up to 80%. Since limits vary by county, call a Home Loan Expert at (877) 711-0004 to find out what kind of jumbo loan you qualify for.
• You can get a jumbo loan with either a low fixed rate — which means your payment and rate will never change over the life of your loan, or with an even lower adjustable rate — great if you plan to move or refinance in the next few years.
• Applying for a jumbo loan doesn’t take months of processing. Our exclusive online technology speeds through jumbo loan underwriting. You can close in just weeks! We make it easy for you to afford your dream home or to refinance to a lower rate.
• Now first-time home buyers can get a tax credit up to $8,000! But hurry! The credit is only good for loans that close by the end of June 2010! Talk to your Home Loan Expert to find out more.
Larger loans with a great interest rate and a lower monthly payment – what’s not to love? Get expert advice from a First Liberty. Call us today at (877) 711-0004 to see if you qualify for lower jumbo loan rates.