Jumbo Loans

Due to the higher risks and costs of financing, jumbo loans have stringent guidelines. Applicants need to have a good credit history and a low debt-to-income ratio when seeking a jumbo loan.

Reliability in Lending offers jumbo loans at competitive adjustable and fixed rates. These rates can save eligible homebuyers thousands on their mortgage payments. Knowledgeable loan professionals will guide you through every aspect of the jumbo loan process ensuring you receive a great low rate. Experienced mortgage industry professionals will provide you with the best customer service and provide a quick application process to get you where you need to be. With current market conditions, it is the right time to buy the home of your dreams at the lowest possible cost.


Qualifications For A Jumbo Loan

The application process for a jumbo loan is not like applying for a conventional mortgage. Since these loans aren’t guaranteed by Fannie Mae and Freddie Mac, lenders carry more risk when they issue them. Therefore, jumbo loans are more difficult to qualify for.

To qualify for a jumbo loan, you will need a credit score of at least 700. You will also want to make sure your debt-to-income ratio is only about 35 percent, but you may still qualify with a debt-to-income ratio up to 43 percent. Additionally, you will need to show you have enough cash to cover six to twelve months of loan payments.

A Better Loan Awaits You

Reliability In Lending mortgage professionals know that buying a home is a unique experience for everyone. Not everyone has the same budget, needs, options or advantages.  Choosing the right terms and lender for your jumbo loan is a crucial decision; this is where the Reliability In Lending Team will help.

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