A jumbo loan is a type of home financing that allows borrowers to buy luxury homes or refinance existing large mortgages by exceeding the loan limits set by the Federal Housing Finance Agency (FHFA). Jumbo loans allow you to have larger loans at a lower rate because it does not conform to the requirements set by the major mortgage loan companies Fannie Mae and Freddie Mac.
Your loan is considered a jumbo loan if the loan amount exceeds the acceptable limit to be considered as ‘conforming’ to Fannie Mae and Freddie Mac guidelines.
Do you know how the mortgage loan process works? We want you to be educated on the process so you fully understand step by step how we are going to get you in the home of your dreams. We have a unique tool built specifically to help you understand the mortgage loan process from start to finish!GET STARTED
You may be eligible to qualify for a jumbo loan if you can meet these requirements:
After getting your FHA loan and purchasing your home, you may think that everything is up to you to manage. But with Insight Team, you will continue to be supported and educated on how to manage your mortgage. The NEO Experience is a home ownership program that will guide you after your already have your home. We offer this so you have expert guidance at all times, always have a perfect mortgage experience and proactively maintain your home, which increases your home value over time! Contact Insight Team today to learn more about “NEO Experience”.