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

Are you looking for a Ouray Colorado Jumbo mortgage company?

It's a great time to take advantage of the jumbo mortgage program. We specialize in helping luxury home buyers who need higher balance jumbo mortgage financing.

What is a jumbo mortgage?

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 rates higher on jumbo home loans in Ouray?

Not necessarily! Currently, we have jumbo rates available that are lower than traditional mortgages. Until recently, this has not been the case. Call to obtain a customized quote for your situation as rates can vary according to your scenario and what the market is doing.

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

Jumbo mortgages can be more difficult to qualify for than conforming loans. First of all, you must have good credit. 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 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. Ouray Jumbo home loans are not available on investment properties- primary residences and second homes only! What kind of mortgages can you get with a Ouray 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 jumbo home buyers and can also help with jumbo home loan refinances.

Call us in the office for a fast response and to get a customized Ouray CO Jumbo Loan quote! http://www.rjbaxter.com/