Financing up to 90% of your home price with low Jumbo Mortgage Rates on Fort Collins CO Jumbo Loans Are you looking for a Fort Collins Colorado Jumbo mortgage company? 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.http://bit.ly/1gl2QuT

What is a jumbo home loan?

A jumbo loan in most counties is any loan that is greater than $417,000. There are some "high balance" counties in Colorado that exceed the $417,000 limit, and they are listed at the bottom of this article or follow this link to the Fannie Mae County Loan Limits to check your county. These counties allow for "conforming" rates above $417,000 and up to the county limit. Are mortgage rates higher on jumbo loans in Fort Collins? Not necessarily!
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Currently, we have jumbo rates available that are lower than traditional mortgages. Until recently, jumbo rates were higher and sometimes much higher than conventional rates. Rates can vary from day to day and are dependent on your scenario so call today for a customized rate quote. What are the qualifying guidelines for a jumbo home loan in Fort Collins CO? Stricter guidelines can make Jumbo mortgages more difficult to qualify for than conforming loans. First of all, you must have 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 will also count in the loan-to-value calculation.

Debt-to-income ratios must also be reasonable, generally in the 41-43% maximum range. Income must be documented through tax returns and/or W2s. Fort Collins Jumbo financing is also not available on investment properties- primary residences and second homes only! What kind of mortgages can you get with a Fort Collins 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). 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 Fort Collins CO Jumbo Loan quote! http://www.rjbaxter.com/