A Jumbo Loan is a type of mortgage designed to finance properties that exceed conventional conforming loan limits set by Fannie Mae and Freddie Mac. These loans are perfect for purchasing higher-priced or luxury homes in areas where home values are typically above average. Learn more in our jumbo loans page or HUD’s single-family housing overview.
Example scenarios include:
Qualifying for a Jumbo Loan typically requires stronger financial credentials compared to conventional mortgages, including:
See details in our mortgage basics.
Yes, Jumbo Loans can finance primary residences, second homes, or investment properties. Terms and qualification criteria may vary based on property usage, with investment properties typically requiring slightly higher down payments and reserves. Explore investment options in our Investment & DSCR FAQ.
Money Well Lending provides both fixed-rate and adjustable-rate (ARM) options for Jumbo Loans. Borrowers can choose the security of fixed monthly payments or the lower initial rates and flexible terms of an ARM, depending on their financial plans and preferences.
Absolutely. Money Well Lending assists clients in refinancing existing Jumbo Loans, helping borrowers optimize their financial strategies, consolidate debt, or lower monthly payments through a tailored refinance solution. Check our refinance guide.
Yes, some Jumbo Loan programs offer lower down payment options, sometimes as little as 10%. These programs typically require stronger financial profiles, such as higher credit scores and substantial financial reserves. See our down payment guide.
Yes, we provide Jumbo Loan options featuring interest-only payment structures. This arrangement allows borrowers to significantly reduce their monthly payment during the initial loan period, ideal for buyers expecting income increases or planning future refinancing. Explore this in our loan programs.
No. Jumbo Loans generally do not require mortgage insurance, even if the down payment is below 20%. However, lower down payment options might have higher interest rates to offset lender risk. Learn more in our PMI guide.
Money Well Lending prides itself on fast and efficient closings. While Jumbo Loans often require additional underwriting, our streamlined processes enable prompt closings, typically within 25-35 days, depending on appraisal availability and borrower responsiveness. See our loan process page.
Money Well Lending has successfully facilitated Jumbo Loans in diverse markets, from the vibrant cities of Bellevue, WA, and Palm Desert, CA, to desirable locations like West Linn, OR, and Scottsdale, AZ. Our goal is to support your home-buying journey, whether purchasing upscale urban properties or luxury homes in premier suburban communities. Check our loan programs.