April Raynor-Brock
NMLS #1557062
Company NMLS 2348888
FairHaven Mortgage
814 Arion Pkwy #204
San Antonio TX 78216
Phone: 210-264-4427
Jumbo Loans in this context are any mortgage which is not guaranteed or insured by the US Government which has a loan balance over the Conforming Loan Limit set by Fannie Mae and Freddie Mac. Currently the conforming limit is $548,250 for a Single-Family unit with exceptions in Alaska and Hawaii.
Because of the larger loan amount the risk associated with the loan increases and therefore down payment requirements are usually set higher than other loans to mitigate that risk. Jumbo loans also may have a higher interest rate compared to a similarly structured Conforming Loan.
Some of the key advantages of the Jumbo Loan are:
Contact Us for more information on Jumbo Loans.
NMLS #1557062
Company NMLS 2348888
Phone: 210-264-4427
All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.