Why Choose A Jumbo Home Loan For Your Home Purchase or Refinance
Jumbo Home Loan Experts
Jumbo home loans can be complicated. It’s important to work with proven professionals that will match you with the best program and help avoid pitfalls during the loan process. Working with an expert is the best way to ensure your transaction goes smoothly.
Unique Financing Solutions
Not all borrowers fit or meet typical underwriting requirements. With access to both institutional and specialized lenders, you’ll get the unique financing solutions you need. Don’t be held captive by one lender’s limited offerings.
Diverse Property Types
High-end properties offer distinct features that accommodate your needs and lifestyle. To meet your individual needs, Jumbo loans are available for a variety of property types; even hard-to-finance properties.
What Other Homeowners Are Saying
Actual customer reviews on what sets us apart from other Jumbo loan lenders.
Cottonwood Heights Jumbo Home Loan FAQs
What Property Types Can Jumbo Home Loans Be Used For?
Jumbo home loans can be used for a variety of property types. Buy or refinance your primary residence, second home or 1-4 unit investment properties. For hard-to-finance properties like condominiums, our portfolio of loan programs also offers competitive options. Financing is available for both warrantable and non-warrantable condos, condotels or cooperatives with a Jumbo loan.
What Are The Income Requirements?
Income requirements for Jumbo home loans will vary based on the investor and the loan program you qualify for. For most investors, your income is documented with pay stubs, W2s and other tax or bank documents. If you’re self-employed or receive 1099 income, you’ll need to provide the last two years of tax returns along with other financials from your business. If you have liquid assets that can support a monthly distribution for 36 months or more, those assets can be considered income to help you qualify. The amount of income you need to document depends on the amount you’re borrowing and your credit liabilities.
What Is The Jumbo Loan Limit?
Jumbo home loans are for loan amounts greater than the current conforming loan limit of $766,550. Some states and counties in the US also have a High Balance loan limit where housing costs are high. High Balance loans have similar guideline and qualifying requirements as a conventional home loan.
How Much Money Do I Need To Put Down?
The down payment amount will vary based on the property type, the home’s occupancy, your credit and if you are buying or refinancing the home. Depending on the Jumbo home loan program, a down payment of 10% to 25% may be required.
Use my mortgage calculator to determine your monthly mortgage payment.
What Type Of Jumbo Home Loans Are Available?
With access to investors at major financial institutions and other institutional investors that offer specialized financing, we offer a large portfolio of loan programs. Depending on which Jumbo home loan program you qualify for, you may select from a fixed or adjustable rate loan with varying loan terms.
Are There Jumbo Home Loans Available If I’m Self-employed?
There are many Jumbo options available if you’re self-employed, but there are a few things you need to keep in mind when applying for a Jumbo loan. First, you’ll need to provide proof of your income. This can be done by providing tax returns or in some cases, business bank statements. You’ll also need to provide proof of your assets too. This can be done by providing bank statements or other financial documents. If you can provide all of this information and meet qualification requirements, you should be able to get a mortgage loan even if you’re self-employed.
Just keep in mind that it requires a lot more documentation and paperwork than it does for someone who has a traditional job. It’s best to make sure you have all your paperwork in order before applying for a Jumbo loan.
Begin Your Dream Home Journey
Schedule a 15-minute consultation to learn more about Jumbo loan options available. Get answers to any questions you may have and get started on the path to home ownership.
How To Choose A Cottonwood Heights Jumbo Home Loan Mortgage Lender
When looking for a lender in Cottonwood Heights, Utah to help with your purchase or refinance, it’s important to work with a local mortgage lender that specializes in Jumbo home loans. Compare your options by finding a loan officer that:
- Offers a wide array of Jumbo home loans
- Has a network of other real estate professionals
- Is familiar with the variety of property types and uses
- Is dedicated to finding the ideal loan program for you
- Has exceptional customer reviews and testimonials from past clients
Many mortgage lenders claim to specialize in Jumbo home loans. However, they typically hire loan officers with little to no experience. The lender doesn’t underwrite the loans themselves, have extended closing times up to 60 days, make you work with a team instead of a single person and don’t respond to your inquiries during the process. Plus, you typically end up with a higher interest rate.
Choosing the right Cottonwood Heights lender could save you thousands of dollars and ensure a positive home buying or refinance experience.