Jumbo, or non-conforming loans, may be a good option for borrowers that have a higher-value property and can manage larger monthly mortgage payments. Jumbo loans are available for purchase and refinance loans (including cash-out refinances).
- Available in a variety of fixed- and adjustable rate loan options
May be able to add extra features, such as temporary buydowns
Provides financing for loan amounts up to $3 million
Provides the convenience of one loan for the entire loan amount
Interest rates are usually higher on jumbo loans than on conforming loans with lower loan amounts.