Jumbo Loans

luxurious home  

What are Jumbo Loans?

Jumbo Loans are loans that exceed the conforming loan limits set by the Office of Federal Housing Enterprise Oversight (OFHEO), and is not eligible to be purchased, securitized, or guarenteed by Fannie Mae or Freddie Mac. A Jumbo Loan is for mortgages more than $625,500. It also offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.

What are the Jumbo Loans Down Payment Requirements?

For Purchase transactions Jumbo Loans require the home-buyer to put down at least 20% of the purchase price of the home. Cash out and No cash out refinance are allowable.

What types of property are eligible?

Most Jumbo loan programs allow you to purchase single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.

Vero Mortgage

phone: 559-734-5000

fax: 888-330-2272

NMLS 244800
DRE #01474957

Vero mortgage is a division of Country Club Mortgage Inc. NMLS# 244800