We Make Qualifying For A Large Loan Straightforward, Fast, Easy
That's why we created our jumbo mortgage lending program - a full suite of offerings designed with the needs of borrowers that seek larger loan amounts than were available through traditional lending options.It's as simple as it sounds. We call it a jumbo mortgage because it is larger than other more "typical" home mortgage loans. To determine if a jumbo mortgage is right for you, please call Terry Williams, The Mortgage Doctor at 402-301-4500 or contact Terry online about a jumbo mortgage.
- Why would I need a jumbo mortgage loan?
- If you are seeking a loan amount in excess of $417,000, then you need a jumbo mortgage loan. Each year, Fannie Mae and Freddie Mac , two government sponsored enterprises, set loan maximums. When loan amounts exceed their limits - the borrower is purchasing a jumbo mortgage loan.
- Can I get an interest-only rate with a jumbo mortgage?
- Yes, of course. You can select a fixed, interest-only loan for a period of 10 years or 15 years through our interest only jumbo mortgage.
- How much money can I be approved for with a jumbo mortgage?
- Depending on the borrower's financial profile, you can qualify for $417,000 to $1,500,000.
- What kind of credit score do I need in order to qualify for either an interest-only jumbo mortgage or jumbo mortgage?
- That depends on the type of loan. For instance, a minimum credit score of 620 is required for a full documentation loan. A score of 660 is required for an interest-only loan, while a score of 680 for an interest-only jumbo mortgage.
Need more information? Call Terry Williams, The Mortgage Doctor at (402) 301-4500 or start an application today!
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