Financing up to 90% of your home price with low Jumbo Mortgage Rates on Glenwood Springs CO http://bit.ly/1gl2QuT

Jumbo Loans Are you looking for a Jumbo Mortgage lender in Glenwood Springs CO?

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?

A jumbo loan in most counties is any loan that is 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. 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 Glenwood Springs?

Not necessarily! Currently, we have jumbo rates available that are lower than traditional mortgages. Until recently, this has not been the case. 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.

What are the qualifying guidelines for a jumbo home loan in Glenwood Springs 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 obtain a 2nd mortgage, or HELOC, that loan must also be counted in the loan-to-value ratio. Debt-to-income are generally capped in the 41-43% maximum range. Income is documented through tax returns, or W2s, or both. Glenwood Springs Jumbo mortgages are only for primary residences and second homes. No investment properties!

What kind of mortgages can you get with a Glenwood Springs Jumbo home loan?

Fixed or adjustable rate loans are available. If you are putting less than 20% down, however, you will have to take an ARM, and they 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 today. We will respond quickly and will give you honest answers to your Glenwood Springs Colorado Jumbo Mortgage questions.http://www.rjbaxter.com/