Jumbo loans are larger than most conventional home loans, but are still considered a traditional loan program.
What is a jumbo loan?
If you are looking at a jumbo loan, you are typically considering a property priced above the market's average. Being able to borrow this amount is very beneficial, but getting approved for a jumbo loan is becoming more difficult each year, so you want a mortgage specialist who is familiar with jumbo loans on your side.
How are jumbo loan rates and terms different?
Jumbo loans can carry a higher interest rate than conventional mortgages, with more flexibility during pre-qualification and a different payment schedule once you close. The rate can be fixed or adjustable, and some jumbo loans have an interest-only option. Jumbo loan characteristics change often, so take time to discuss them in detail with us.
How do I qualify for a jumbo loan?
The pre-qualification process is similar to a conventional mortgage, with more emphasis on credit score and income because of the larger loan amount. We also offer jumbo refinancing.
Talk to a Longview mortgage broker
Every borrower's situation is different. Call Kenneth Travis's team at 903-331-0892 to talk through jumbo loans and the rest of your options, or apply online.