Jumbo Loans
California Mortgage Advisors, Inc. has been specializing in jumbo loans for over 20 years. Many home buyers who are interested in purchasing a larger, more expensive home turn to CMA for our large selection of jumbo loan programs and excellent service. Jumbo loans provide larger loan amounts than the standard conforming loan programs giving you greater flexibility in buying your next home. CMA offers many different types of jumbo mortgages which give you more options in affordability of your home, whether you are looking to buy a new home or refinance your existing home.
Traditional Jumbo Loan Limits:
Many people see the world of home mortgages as either black or white. You either obtained a conforming loan or a jumbo loan. In most cases, conforming meant any loan up to about $417,000 (or $625,500 in specially designated ‘high cost’ areas like San Francisco and New York). The loan amounts change from time to time, however there are some jumbo investors that provide loans under $417,000.
Call us today to get more information regarding Jumbo Loans today at (800) 927-6560
CMA offers jumbo financing up to $10,000,000. In addition to offering high loan amounts, we offer many programs and price structures. Our Mortgage Advisors will assist you in selecting the perfect loan program to fit your financial needs and goals. If you pay cash for your property with the intent of getting a loan shortly after your purchase, CMA offers delayed purchase financing up to $1,000,000. Better still, we might even be able to offer you jumbo loan rates more in line with what you would expect from traditional mortgages, due to our high degree of lender flexibility.
Truth About Jumbo Loans:
When a home mortgage lender issues a loan today, they typically package and sell them in batches almost as soon as they are funded. Most of these loans are eventually bought by Fannie Mae and/or Freddie Mac, the two main government appointed organizations working in the real estate markets. However, on loans with higher loan amounts, these government sponsored enterprises don’t provide financing. This is where jumbo loans come into play.
A mortgage with a higher loan amount is called a jumbo loan. Generally speaking, the jumbo loan rates may be higher, due to the higher amount of perceived risk for the lender and purchaser. You might also need higher credit scores and a larger down payment in order to qualify. CMA works with many jumbo investors and we generally have jumbo rates lower than the conforming rates.
At California Mortgage Advisors we understand everyone has a different situation. This is the reason why we are able to help you find the jumbo loan that fits your particular financial situation. In addition to finding you the right loan, we also work to help you get the best jumbo loan rates possible. Call us today at (800) 927-6560 to speak with one of our Mortgage Advisors or you can apply here online.
Additional Jumbo Loan Features:
In addition to the fantastic jumbo loan rates offered, you also want to get the best terms. This is why we also have a wide variety of options such as:
- Asset based loans
- Variety of interest only adjustable rate mortgage (ARM) programs
- ARM’s with fixed periods from 3 to 10 years
- Multiple fixed rate loans with amortization periods ranging from 10 to 30 years
Our Mortgage Advisors are here to help you choose the right program.
We Can Help:
There are many reasons why you might be searching for a jumbo loan…and we are here to help. We go to great lengths to ensure our jumbo loan rates are among the most competitive in the industry. Whether you need construction financing, are looking to improve upon your existing home financing, or just simply looking around to see who has the best deal…you’ve come to the right place. With many years of experience in the market, our professional Mortgage Advisors will take you by the hand and guide you through the entire process.
Just say the word and we will get started.
Call us today at (800) 927-6560 to speak with one of our Mortgage Advisors or you can apply here online.
