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Think BIG with a Jumbo Loan

A jumbo loan, or non-conforming mortgage, allows you to purchase more expensive homes with a loan amount above the conforming limit set by the Federal Housing Finance Agency. In most areas of the country, the conventional conforming loan limit is $417,000; however, the limit is $625,500 in higher cost areas.

Jumbo Loan Highlights

If you have a low debt-to-income (DTI) ratio and a higher credit score, but you don’t have enough funds to bring the loan amount under the conforming limit, a jumbo loan might be the right option for you. Highlights of non-conforming loans include:

  • Finance a home over the maximum loan amount established by the Federal Housing Finance Agency
  • Higher purchase limits allow borrower to purchase more house
  • Convenience of one loan for the entire loan amount
  • Primary residence, second home or investment property
  • Fixed-rate or adjustable-rate mortgages (ARM)

If you are interested in a jumbo loan, please locate your loan originator.

© 2017 Fairway Independent Mortgage Corporation. NMLS Entity ID #2289. All rights reserved. 4801 S. Biltmore Lane, Madison, WI 53718. Complaints may be directed to: (877) 699-0353 or Email us: customerservice@fairwaymc.com. Toll Free: 866-912-4800. Fax: 608-837-4723. MA Mortgage Broker and Lender License #MC2289. Licensed by the New Hampshire Banking Department. Rhode Island Licensed Broker and Lender. Also licensed in Maine and Vermont.