90% financing and low Jumbo Home Loan Rates on Jumbo Loans in Lakewood CO http://bit.ly/1gl2QuT
Are you looking for a Jumbo Home Loan in the Lakewood CO area?
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 financing for higher jumbo loan amounts. What is a jumbo home loan?
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 mortgage rates higher on jumbo loans in Lakewood?
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 Lakewood Colorado?
Jumbo mortgages can be 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.
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 must also be counted in the loan-to-value ratio.
Debt-to-income are generally capped in the 41-43% maximum range. You must be able to prove your income through tax returns, or W2s, or both. Lakewood Jumbo home loans are not available on investment properties- primary residences and second homes only!
What kind of loans can you get with a Lakewood Jumbo mortgage?
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 jumbo loan home buyers and can also help you refinance your jumbo loan. Call us in the office today.
We will respond quickly and will give you honest answers to your Lakewood Colorado Jumbo Mortgage questions.http://www.rjbaxter.com/
