Financing up to 90% of your home price with low Jumbo Mortgage Rates on Castle Rock CO Jumbo Loans Are you looking for a Jumbo Mortgage lender in Castle Rock CO? http://bit.ly/1gl2QuT

Right now is the time to lock in a low jumbo mortgage rate. We specialize in helping luxury home buyers who need higher balance jumbo mortgage financing. What is a jumbo mortgage?

A jumbo home loan in most counties is any loan with a balance 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. http://bit.ly/18Fm3DU

These counties allow for "conforming" rates above $417,000 and up to the county limit. Are home loan rates higher on jumbo mortgages in Castle Rock ? Not necessarily! Currently, we have jumbo rates available that are lower than traditional mortgages. Until recently, this has not been the case. 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 Castle Rock Colorado?

Stricter guidelines can make Jumbo mortgages more difficult to qualify for than conforming loans. First of all, 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 also obtain a HELOC, or 2nd mortgage, that will also count in the loan-to-value calculation. Debt-to-income are generally capped in the 41-43% maximum range. Income is documented through tax returns, or W2s, or both. Castle Rock Jumbo financing is also not available on investment properties- primary residences and second homes only! What kind of mortgages can you get with a Castle Rock Jumbo home loan? 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). Here are the 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 higher loan amount home buyers and can also help with jumbo loan refinances. Call us in the office for a fast response and to get a customized Castle Rock CO Jumbo Loan quote! http://www.rjbaxter.com/