Financing up to 90% of your home price with low Jumbo Mortgage Rates on Garfield County CO Jumbo Loans.

Are you looking for a Jumbo Mortgage lender in Garfield County 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 financing for higher jumbo loan amounts.

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 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.http://bit.ly/18Fm3DU

Are mortgage rates higher on jumbo loans in Garfield County?

Not necessarily! 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. Call us and we will provide a customized quote for your home loan as rates can vary according to your scenario and what the market is doing.

How do you qualify for a jumbo mortgage loan in Garfield County Colorado?

Jumbo mortgages can be more difficult to qualify for 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. Down payment requirements are as little as 10%, 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. You must be able to prove your income through tax returns, or W2s, or both. Garfield 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 Garfield 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 loan home buyers and can also help you refinance your jumbo loan. Call us in the office for a fast response and to get a customized Garfield County CO Jumbo Loan quote! http://www.rjbaxter.com/