A Jumbo Loan is a mortgage product used to finance properties that are more expensive than the current conforming loan limits set by the FHFA. The maximum amount for a conforming loan has been increasing on an annual basis and in most counties that limit is currently $726,200, higher cost areas also have access to High Balance Conforming loans (as high as $1,089,300 in some areas). Loansthat exceed the local conforming loan limit require a jumbo financing.
The key difference between a jumbo and conforming loan is the size of the loan.
Among the other factors that differentiate jumbo loans from conforming loans:
Click the button below to start the application process. If you have questions please Contact Us Here.
Copyright © 2022 Your Loan Officer St. John - All Rights Reserved.
Robert St. John | NMLS #1578510 | Barrett Financial Group, L.L.C. | NMLS #181106 | 2300 W. Sahara Avenue Suite 800 Office 806, Las Vegas, NV 89102 | AZ 0904774 | CA 60DBO-46052 & 41DBO-148702 Licensed by Dept. of Financial Protection & Innovation under the California Residential Mortgage Lending Act. Loans made or arranged pursuant to a California Financing Law License | NV 5091 | Equal Housing Opportunity | This is not a commitment to lend. All loans are subject to credit approval. | nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/181106 | barrettfinancial.com
Your Loan Officer, St. John