Jumbo Mortgages are mortgages with a loan amount above conventional loan limits determined by local counties.

Jumbo Mortgages are determined by local county limits.

What are the “Pros and Cons” of a Jumbo Mortgage? Pro: This allows you to purchase property above conventional loan limits. Con: Payment of slightly higher interest rates will apply. Dollar amounts that define a Jumbo Mortgage are redetermined annually by the local counties.  A Jumbo mortgage is considered a non-conforming loan because it exceeds the loan limits set by Fannie Mae and Freddie Mac. Single-family limit benchmarks change annually. If your borrowing needs exceed the Fannie Mae or Freddie Mac limit amount, you will need a Jumbo mortgage.

Are you buying a new luxury home, need information about Jumbo Mortgages? Taylor Mortgage Group is a mortgage broker that offers a variety of loan products and rates with some of the largest and best investors. A pre-qualifying process can be helpful in structuring your final goal. One of the most important steps in purchasing a real estate is to be pre-qualified. An accurate credit report is a useful tool in assessing your lending options. Call: Taylor Mortgage Group at 303-339-5950 or Janie Taylor directly at (303) 884-9393.