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©2017 JASON NADER - FIRST HOME MORTGAGE CORPORATION

*This is not a commitment to lend. Terms and conditions of programs, products and services are subject to change. All loans are subject to credit approval and property appraisal. Certain restrictions may apply on all programs.

 

First Home Mortgage Corporation of America, First Home Mortgage Services, and First Home Mortgage Company of Maryland are d/b/a's of First Home Mortgage Corporation. First Home Mortgage Corporation is licensed in Connecticut, Delaware, District of Columbia, Florida, Georgia Residential Mortgage Licensee (Lic. #23135), Indiana, Kentucky, Maine, Maryland, Massachusetts Mortgage Lender and Broker (Lic. #MC71603), Michigan, New Hampshire, Licensed by the New Jersey Department of Banking and Insurance, North Carolina, Pennsylvania, Rhode Island Licensed Lender and Broker, South Carolina, Tennessee, Vermont, Virginia, West Virginia. Equal Housing Lender. First Home Mortgage Corporation NMLS ID #71603 (www.nmlsconsumeraccess.org). Privacy Policy

 

JUMBO LOAN

WHAT IS A JUMBO MORTGAGE?

A non-conforming jumbo mortgage can help you purchase a lot of real estate. This mortgage is needed for loan amounts over the conforming loan limit of $453,100 and $679,650 in high-cost areas. If you need to take out a loan over the conforming limit, a fixed or adjustable rate jumbo mortgage could be your ticket to a big and beautiful home.

 

There is, however, one key difference: Jumbo loans are ineligible for purchase by Fannie Mae or Freddie Mac and must be sold in the secondary market. What does this mean? Jumbo loans can require more stringent credit guidelines and larger down payments than conforming loans.

IS A JUMBO MORTGAGE RIGHT FOR YOU?

 

Can you afford high-value real estate but don’t have enough saved up to bring a loan down to the conforming limit? A jumbo mortgage can help you make your move! If your financial situation is on the upswing, a jumbo loan can be a good way to bypass a starter home and purchase the full-sized home of your dreams.

 

 

JUMBO LOAN FEATURES

 

A jumbo mortgage is a great way to rapidly build your credit. On-time payments will improve your score by leaps and bounds. One important note—it may be more expensive to refinance a jumbo loan due to higher closing costs.