A Jumbo Loan may be a great option for you if:
- You can afford a more expensive primary or second home and higher monthly payments; and
- You want a 15-year or 30-year fixed rate.
Jumbo Mortgage benefits and features:
- Loan amounts: For conforming Conventional Loans above $510,400 and for high-cost area Conventional Loans above $765,600 and up to $1.5 million.
- Down payment: Minimum is 10%. No mortgage insurance is required with 20% down.
- Credit score: Minimum is 700.
- Shorter turn times: Academy Jumbos don’t have the long turn times of big banks.
- Other requirements and conditions apply.
CALL YOUR ACADEMY LOAN OFFICER today for more information about Jumbo Mortgages.