Jumbo Mortgage Loans

Jumbo mortgage loans are loans that do not fit in the Fannie Mae and Freddie Mac guidelines because of the amount financed for a single-family Texas home exceeds the regulated loan limit of $424,100.  This means that it will not be purchased or guaranteed by Fannie Mae or Freddie Mac.

Jumbo mortgages loans are available for a primary residence, second or vacation home, or an investment property.  They can have fixed-rate or adjustable-rate terms, and typically require a lower Loan-to-Value (LTV)ratio. Borrowers need to have a good credit history with 700 plus credit scores (anything lower will be looked at on a case-by-case basis). Because a larger amount of money is being financed, a jumbo mortgage loan is subject to a more rigorous underwriting process.


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