Jumbo Mortgage Financing
With a jumbo loan mortgage from Equity Direct Financial, LLC, you can secure the financing you need for a home at the very top of your budget that comes with an expensive down payment. Jumbo loans come into play in cases where the loan amount needed to finance the purchase of an expensive home exceeds the maximum conforming amount set by the Federal Housing Finance Agency.
Equity Direct Financial can help you secure a jumbo loan for the purchase of that expensive dream home. These are for homes that are over the conforming limits set by Fannie Mae and Freddie Mac, a limit of $647,200. While we can help you find a jumbo loan to help you purchase that expensive home at the top of your price range, keep in mind that this will require a higher down payment and a stronger credit score. The cost to you will be more expensive as the rates for jumbo loans are higher than conforming loans.
Why Should You
In short, a jumbo loan allows you to secure a large amount of cash to finance the purchase of an expensive home you otherwise would not have the cash for. A jumbo loan is necessary when a conforming loan will not cover the price of the home you want. A higher credit score will typically be necessary to secure this type of loan. While there is no minimum down payment for a jumbo loan, putting down a larger percentage will improve your chances of being approved. Jumbo loans can be secured with either a fixed interest rate or an adjustable rate with a variety of terms ranging from five years to 30 years.
WORK WITH US
States We Lend
Score and background check
$250K – $10MM+ non-owner occupied property
2-months of recent bank statements
Fix & Flip Experienced Required
Our Core Purchasing Service
Whether you’re looking to purchase a new home or refinance your existing home, Equity Direct Financial can provide all the help you need.