Jumbo Loans

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Jumbo Loans for Home Mortgages

A Jumbo loan (or Jumbo mortgage) is a type of home financing that exceeds the loan limits set by the Federal Housing Finance Agency (FHFA). These non-conforming loans allow borrowers to purchase or refinance high-value properties that go beyond conventional mortgage limits.

Unlike traditional home loans, Jumbo loans are not backed by Fannie Mae or Freddie Mac. They are typically used to finance luxury homes and properties in competitive real estate markets.

Because of their higher loan amounts, Jumbo mortgages come with stricter underwriting requirements, including:

  • High credit score

  • Strong financial reserves

  • At least 20% down payment

If you're looking to finance a high-value home, I can help you navigate the Jumbo loan process and find the best options for your situation!

Pros and Cons of Jumbo Loans

Advantages

  • Higher Loan Amounts – Borrow up to $2 million to finance high-value properties.

  • No Need for Secondary Financing – Eliminates the need for additional loans.

  • Access to Luxury Real Estate – Enables buyers to purchase expensive homes in areas with lower conforming loan limits.

  • No Prepayment Penalties – Pay off your loan early without extra fees, even with adjustable-rate mortgages (ARMs).

Disadvantages

  • Higher Down Payment Requirement – A minimum of 20% down is typically required.

  • Strict Credit Requirements – Applicants must have a very high credit score to qualify.

  • Strong Financial Standing – Lenders require borrowers to have a high net worth and substantial financial reserves.

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Tiffinie Larkins

Mortgage Broker

License# 2169349

Brokerage License # 1862092

457 Laurence Dr Suite 463 Heath TX 75032

850-900-3081

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