JUMBO LOAN
Big dreams mean big loans, and a Jumbo loan can get you there.
What is a Jumbo Loan?
When the home of your dreams is in an extremely desirable, higher priced real estate market, or your growing family demands a larger home, a Jumbo loan may be right for you. The exclusive community, the premium county, or the upgraded house to fit your growing family are all hallmarks of a Jumbo loan.
Jumbo loans are also considered non-conforming loans because they exceed the conforming loan limit of $417,000. Some counties may vary in conforming loan limits, so our experienced advisors will help you decide if your loan amount fits into the limits, or if this loan is the right option for you.
Interest rates on these loans tend to be higher, due to the increased risk associated with larger loan amounts, and because the loans cannot be sold to Freddie Mac or Fannie Mae on the secondary market. Some borrowers may choose to pay a larger down payment to get their loan size below the conforming limit. Other borrowers are comfortable paying a higher monthly payment instead of putting the additional money down. For these borrowers with higher monthly income but less available savings, this loan is the perfect solution.
RATES
These loans are available in a variety of fixed and adjustable rate terms
REQUIREMENTS
These loans tend to have higher down payment and cash reserve requirements
LIMITS
For loans above the conforming loan limit up to $5 million
We’re here to help.
Our loan advisors at American Pacific Mortgage can help you determine if your loan amount falls outside of the conforming limits. While piggyback second mortgages and larger down payments could bring your loan amount down to conforming limits, you may choose to utilize a Jumbo loan instead. We will help you understand your options so you can decide which loan will best fit your needs.
Frequently Asked Questions
Q: What makes your mortgage process different from other lenders in Roseville?
Our mortgage process focuses on speed, communication, and flexibility. As a local Roseville mortgage broker, we compare loan options across multiple lenders to find the best fit for your needs rather than offering a single bank’s products. You get personalized guidance, faster updates, and a smoother homebuying experience from start to finish.
Q: How fast can I get pre-approved for a home loan?
Most homebuyers can receive a pre-approval within the same day once documents are submitted. Many borrowers even receive a pre-approval in just a few hours. As a local mortgage broker, we streamline the process by reviewing your information quickly and matching you with the right lender for your timeline.
Q: Can I get help comparing different loan options?
Yes. We help you compare mortgage options side-by-side, including conventional, FHA, VA, jumbo, and first-time buyer programs. Because we work with multiple lenders, we can show you different rates, payment scenarios, and qualification requirements so you can choose the loan that aligns best with your goals.