What are Jumbo Loans?
Jumbo loans are used to finance high value properties where the loan amount exceeds the current conforming loan limit. eLEND offers excellent Jumbo mortgage rates with several program options to choose from, including both fixed rate and adjustable rate options.
eLEND offers Jumbo home loans for owner occupied homes as well as vacation and investment properties. Keep in mind that due to the greater risk level represented by the large loan amounts, Jumbo loans tend to have somewhat higher interest rates when compared to conforming loans.
Jumbo Program Benefits
- Affordable financing option for home loans that don’t meet conforming limits
- Amortized over a 15 year or 30 year term to keep monthly payments low
Do I Qualify for a Jumbo Loan?
Qualification requirements will vary depending on which type of jumbo mortgage you apply for, but will be based on several factors including:
- Credit history and score
- The amount of income you earn
- The amount of your other debts
- How much equity you will have in the property
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