Evergreen 90% financing and low Jumbo Home Loan Rates on Jumbo Loans in Evergreen CO Are you looking for a Jumbo Mortgage lender in Evergreen CO? http://bit.ly/1gl2QuT
It's a great time to take advantage of the jumbo mortgage program. We specialize in helping luxury home buyers who need jumbo financing for the higher jumbo loan amounts. What is a jumbo loan?
A jumbo home loan in most counties is any loan with a balance 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 home loan rates higher on jumbo mortgages in Evergreen ?
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 Evergreen CO?
Jumbo home loans can be more difficult to obtain 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. Your down payment can be as low as 10%, but rates and terms 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. Evergreen Jumbo financing is also not available on investment properties- primary residences and second homes only!
What kind of home loans can you get with a Evergreen Jumbo 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). 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 Evergreen CO Jumbo Loan quote!
