jumbo loans
Big options for big houses
A jumbo loan is any loan that exceeds the limit set by Fannie Mae and Freddie Mac for conventional mortgages. These loans are most appropriate for high income individuals. Some lenders will lend in the millions to highly qualified borrowers.
down payment
Oftentimes lenders require a 10% down payment for jumbo loans.
terms
Lenders offer a variety of terms from 5 to 30 years for Jumbo mortgages.
credit score
In order to lend such large sums of money, lenders often require a higher FICO than other programs.
cash reserves
It is not uncommon for lenders to require that the borrower prove they have sufficient reserves for their large mortgage.
Get in touch
Call, Text, Email or check us out on social media
Elliott Bowman
(206) 949-5563
NMLS # 1982189
CO License # 100517635
© 2022 Elliott Bowman LLC All Rights Reserved. Elliott Bowman NMLS# 1982189 CO License # 100517635 NMLS Consumer Access / Legal Disclaimer – This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Other limitations may apply. This site is not authorized by the Colorado Division of Real Estate.