Jumbo loans: Option 1 offers a 30-year fixed rate along with a 3/1, 5/1 and 7/1 Treasury ARM with loan amounts up to $2,000,000 and an interest-only option; option 2 offers a 30-year fixed rate along with a 5/1, 7/1 and 10/1 Libor ARM with loan amounts up to $2,000,000; option 3 has 30- and 15-year fixed rate terms and 3/1, 5/1 and 7/1 Libor ARMs available with loan amounts to $2,000,000; option 7 has 5/1 and 7/1 Libor ARM with 10-year interest-only option and loan amounts to $2,000,000.
Conventional loans, which are the most common kinds of loans, have a loan limit of $417,000 in most of the U.S. For some home buyers, that is not enough to purchase their new home. Those buyers need to look into a jumbo loan to meet their needs.
While other mortgage lenders are still shying away from jumbo loans, WJB is pleased to offer four types of jumbos. Jumbos are great for move-up buyers with expanding families, those looking for a bigger home or current homeowners who want to take advantage of low rates!
- Jumbo 1 offers a 30-year fixed rate along with a 3/1, 5/1 and 7/1 Treasury ARM with loan amounts up to $2,000,000.
- Jumbo 2 offers a 30-year fixed rate along with a 5/1, 7/1 and 10/1 Libor ARM with loan amounts up to $2,000,000.
- Jumbo 3 offers 30- and 15-year fixed-rate terms along with a 3/1, 5/1 and 7/1 Libor ARM with loan amounts to $2,000,000.
- Jumbo 7 offers a 5/1 and 7/1 Libor ARM with 10-year interest-only option and loan amounts to $2,000,000. Primary and second homes permitted.
- Interest-only option may be available.
- Cash-out refinancing may be available.
- Second homes and condos may be eligible.
Let’s discuss whether jumbo financing can meet your unique needs. I can answer any questions you have and explain the options available to you. Your mortgage should be a part of your overall financial portfolio and I can help show you how your mortgage can help you meet your financial goals.
