90% financing and low Jumbo Mortgage Rates on Colorado Jumbo Loans.http://bit.ly/1gl2QuT

Are you looking for a Woodland Park 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 jumbo financing for the 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 rates higher on jumbo home loans in Woodland Park?

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.

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

Jumbo home loans can be more difficult to obtain than conforming loans. You must first of all of 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. 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 will also count in the loan-to-value calculation. Debt-to-income ratios must also be reasonable, generally in the 41-43% maximum range. You must be able to prove your income through tax returns, or W2s, or both. Woodland Park 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 Woodland Park 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). 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 for a fast response and to get a customized Woodland Park CO Jumbo Loan quote!http://www.rjbaxter.com/