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.
A Game-Changer New Jumbo Loan Product
Academy Mortgage now offers a Jumbo Loan product with just a 10% down payment, in-house underwriting for quick closing times, and no mortgage insurance required. Also available as a cash-out refinance, this loan solution can make your BIG DREAM of a larger home a reality!
Benefits and features:
- 10% down payment.
- No mortgage insurance!
- In-house underwriting for quick closing times.
- Non-occupant owners and second homes allowed.
- Available in all states, including Hawaii.
- Available for cash-out refi, excluding Texas.
- Competitive pricing, including conforming high-balance product offering.
- Additional conditions, qualifications, and restrictions may apply.
CALL YOUR ACADEMY LOAN OFFICER today for more information about Jumbo Mortgages.