Jumbo Loans

Super Size It

At Loan Simple we realize that not every mortgage need is going to fall under the conforming loan limit of $417,000 (This is set annually by the Federal Housing Finance Agency). Some of us may need a larger home to hold our growing (or already large) family, or we may live in an area in which real estate is at a premium, or we make enough to comfortably afford a larger mortgage. Regardless of the reason, we have Jumbo Financing available to help you accomplish your goals.

Our Jumbo Loans are available as fixed or adjustable rate mortgages (ARM), and can be standard or interest only. The Jumbo loan generally carries a higher interest rate due to the fact that it carries more risk (larger loan size) and because it has to be sold in the secondary market (Jumbos can not be sold to Fannie Mae or Freddie Mac due to their loan size limit of $417,000).

Benefits of a Jumbo Loan

Higher Priced Real Estate: Whether it’s a private community, or a very highly sought after area, the Jumbo Loan makes that dream of owning higher priced real estate a reality. With us it’s Simple.

A Home You Can Grow Into: For many families stretching a bit to get into a home that they can grow their family into over the next 20-30 years is a necessity. With a Jumbo Loan it becomes a reality.

Higher Income: If you have a higher salary, but don’t have the savings (or desire to empty those savings) to drop the amount financed to the conforming limits of $417,000, than the Jumbo is perfect for you.