What is a Jumbo Loan?

A Jumbo loan, also known as a Jumbo Mortgage,  is any loan amount greater than the conforming loan limit which is currently at $453,100.  Certain areas are deemed high-cost areas and the conforming loan limit is $679,650.  The conforming loan limits are set by Fannie Mae and Freddie Mac so amounts exceeding these limits require a Jumbo Mortgage.

Is a Jumbo Loan Right For Me?

If you need to borrow more than the above-stated confirming loan limits then yes, a Jumbo loan is the way to go for you. 

  • 30 year & 15 year loans
  • Low fixed rates
  • ARM loan options available
  • ≥680 credit scores ok
  • Finance up to 85% loan-to-value
  • Maximum loan amount of $2,500,000 for primary and secondary homes, $1,000,000 for investment properties

How Do I Get a Jumbo Loan?

Once you have decided a Jumbo loan will fit you best, contact us and speak with a Carrington loan officer. We will be happy to walk you through the application process. Call (888) 267-0584 or click here to start now.