90% financing and low Jumbo Home Loan Rates on Jumbo Loans in Adams County CO. http://bit.ly/1gl2QuT
Are you looking for a Jumbo Mortgage lender in Adams County CO? Right now is the time to lock in a low jumbo mortgage rate. We specialize in helping luxury home buyers who need jumbo financing for the higher jumbo loan amounts. What is a jumbo mortgage?
A jumbo loan in most counties is any loan that is greater than $417,000. There are some "high balance" counties in Colorado and they are listed at the bottom of this article or follow this link to the Fannie Mae County Loan Limits. These counties allow for "conforming" rates above $417,000 and up to the county limit. Are home loan rates higher on jumbo mortgages in Adams County ?
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Not necessarily! Currently, we have jumbo rates available that are lower than traditional mortgages. This has not been the case until recently. Call to obtain a customized quote for your situation as rates can vary according to your scenario and what the market is doing. How do you qualify for a jumbo mortgage loan in Adams County Colorado?
Stricter guidelines can make Jumbo mortgages more difficult to qualify for than conforming loans. You must first of all of good credit. Generally speaking, your credit score must be above 700, and for higher loan amounts, or higher loan-to-value ratios, your score must be above 740. You can obtain financing with as little as 10% down payment, but rates improve with more down payment, generally 20%, 25%, and 30% down will get you a better deal. If you plan to obtain a 2nd mortgage, or HELOC, that loan must also be counted in the loan-to-value ratio. Your debt-to-income ratio must also be reasonable, generally capped at the 41-43% maximum range. Income is documented through tax returns, or W2s, or both. Adams County Jumbo financing is also not available on investment properties- primary residences and second homes only!
What kind of loans can you get with a Adams County Jumbo mortgage?
Fixed or adjustable rate loans are available. With less than 20% down, however, you will have to take an ARM, or adjustable rate mortgage, which are available in 5 or 7 year terms (fixed for 5 or 7 years). Colorado High Balance County Limits 2014: Eagle County: $625,500 Garfield County: $625,500 Hinsdale County: $427,800 Lake County: $625,500 Ouray County: $425,500 Pitkin County: $625,500 Routt County: $625,500 Summit County: $625,500 We specialize in helping jumbo home buyers and can also help with jumbo home loan refinances.
Call us in the office....we will give you a customized Adams County CO Jumbo Home Loan quote and honest answers to your questions! http://www.rjbaxter.com/
