Jumbo Loans

A jumbo loan is a loan that exceeds the conforming loan limits as set by Fannie Mae and Freddie Mac. As of 2022, the limit is $647,200 for most of the US, apart from Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit is $970,800. Rates tend to be a bit higher on jumbo loans because lenders generally have a higher risk.

We’re here to make the jumbo home loan process easier, with tools and knowledge that will help guide you along the way, starting with our Jumbo Loan Qualifier.

We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a repeat buyer.

The Jumbo Loan Process

Here’s how our home loan process works:

  • Complete our simple Jumbo Loan Qualifier
  • Receive options based on your unique criteria and scenario
  • Compare mortgage interest rates and terms
  • Choose the offer that best fits your needs
How do Jumbo Loan limits vary?
  • Jumbo Loan limits vary by location and can change annually. They are influenced by the median home prices in a specific area. In high-cost areas, Jumbo Loan limits are higher to accommodate the more expensive real estate market.

There is no maximum or limit on how many times you can use a VA loan. You can use a VA loan once, twice, three times or seven. As long as you have remaining entitlement, you typically always have the option to obtain another VA loan. Veterans United has even worked with a handful of Veterans on their 9th VA loan.

Generally, the interest rates on Jumbo Loans are slightly higher than those on conventional loans. This is because Jumbo Loans involve higher loan amounts and greater risk for lenders. However, interest rates can still vary based on the borrower’s creditworthiness and market conditions.

Jumbo Loans are commonly used for financing high-value residential properties, such as luxury homes and estates. However, they can also be used for certain types of investment properties. It’s essential to check with lenders to understand their specific guidelines regarding the types of properties eligible for Jumbo Loans.

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