90% financing and low Jumbo Home Loan Rates on Jumbo Loans in Broomfield CO.http://bit.ly/1gl2QuT

Are you looking for a Jumbo Home Loan in the Broomfield CO area? There has never been a better time than right now to take advantage of this program. We specialize in helping luxury home buyers who need jumbo financing for the higher jumbo loan amounts.

What is a jumbo loan?http://bit.ly/18Fm3DU

A jumbo loan in most counties is any loan that is greater than $417,000. However, there are some "high balance" counties in Colorado which are listed at the bottom of this article, or you can 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 rates higher on jumbo home loans in Broomfield?

Not necessarily! Currently, we have jumbo rates available that are lower than traditional mortgages. Until recently, this has not been the case. Rates can vary from day to day and are dependent on your scenario so call today for a customized rate quote.

What are the guidelines for qualifying for a jumbo mortgage in Broomfield CO?

Jumbo home loans can be more difficult to obtain than conforming loans. The first requirement is that you must have good credit. Most lenders have a minimum credit score of 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 will also count in the loan-to-value calculation. Your debt-to-income ratio must also be reasonable, generally capped at the 41-43% maximum range. Income must be documented through tax returns and/or W2s. Broomfield Jumbo home loans are not available on investment properties- primary residences and second homes only!

What kind of loans can you get with a Broomfield 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 for a fast response and to get a customized Broomfield CO Jumbo Loan quote! http://www.rjbaxter.com/