A Jumbo loan is a loan greater than $417,000, the current limit
for conforming financing. The loan limit is subject to change each year. In most cases,
Jumbo loans are offered at a slightly higher interest rate; however, some special Jumbo
programs are offered at conforming rates. Jumbo loans are available for 1, 3, 5 or 7 year
ARM programs, or 10, 15, 20 and 30 year fixed rate
programs with LTVs up to 95% of the sales
price or appraised value, whichever is less. Jumbo loans may be refinanced up to 90% of
the market value, no cash out. Maximum cash out on a Jumbo loan is 80% of value.
Call (800) 557-0270 for details.
