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Jumbo Loan
When you're purchasing a high-value home, a traditional mortgage may fall short. That’s where a jumbo loan comes in—providing the additional financing needed for luxury properties or homes in competitive real estate markets. Ideal for buyers looking to invest in premium real estate, jumbo loans offer a flexible solution to help you secure the home you truly want.
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Jumbo Loan Information
A jumbo loan—also known as a jumbo mortgage—is a specialized financing option for homebuyers looking to purchase high-value properties that exceed the loan limits set by the Federal Housing Finance Agency (FHFA).
Unlike conventional loans, jumbo loans are not backed by government-sponsored enterprises such as Fannie Mae or Freddie Mac.
Designed for luxury homes and properties in competitive markets, jumbo loans offer the flexibility to borrow beyond standard limits but come with unique qualifications and requirements.
As housing prices continue to rise, jumbo loans have become an increasingly important tool for buyers in premium segments.
Because of the larger loan amounts and added risk for lenders, jumbo loans typically come with stricter underwriting guidelines. Here's what to expect:
- Low Debt-to-Income (DTI) Ratio: Lenders will review your DTI to ensure you’re financially balanced. While many set the cap around 45%, those with strong assets may see more flexibility.
- Detailed Financial Documentation: You’ll need to provide comprehensive income and asset verification, including tax returns, W-2s, 1099s, bank statements, and details of any investments.
- Cash Reserves: Expect to show proof of significant cash reserves—often enough to cover at least 6 to 12 months of mortgage payments.
- Property Appraisal: Some lenders may require a second appraisal to confirm the home’s market value.
Jumbo loans are a smart choice for buyers looking to finance:
- Luxury primary residences
- Vacation homes
- High-end investment properties
Whether you're upgrading to your dream home or purchasing in a high-demand area, a jumbo loan offers the flexibility and purchasing power to make it happen.
At Bravo Mortgage, we understand the unique needs of high-value homebuyers. Our team is here to help you navigate the process with clarity and confidence—offering expert guidance, competitive rates, and a smooth lending experience from start to finish.
Contact us today to learn how a jumbo loan can help you move forward with your next property purchase.
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