Financing up to 90% of your home price with low Jumbo Mortgage Rates on Vail CO Jumbo Loans Are you looking for a Jumbo Home Loan in the Vail CO area?

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 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 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 home loan rates higher on jumbo mortgages in Vail?

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 guidelines for qualifying for a jumbo mortgage in Vail CO? Jumbo home loans can be more difficult to obtain than conforming loans.http://bit.ly/18Fm3DU

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. 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. Income is documented through tax returns, or W2s, or both. Vail Jumbo financing is also not available on investment properties- primary residences and second homes only!

What kind of home loans can you get with a Vail Jumbo 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). Here are the 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 Vail Colorado Jumbo Mortgage questions. http://www.rjbaxter.com/