Jumbo Mortgages are loans that exceed the maximum loan limit in any county in which the property is located. For our purposes jumbo loans in Sonoma County are considered to be in excess of $520,950-$2 million. These programs offer fixed rate and adjustable rate loan terms from 3, 5 and 7 year terms, to 15 year fixed rate mortgages to 30 year fixed-rate mortgages. These programs enable you to purchase or refinance primary residences and second homes.

Jumbo Mortgage Benefits:

• Do you plan on purchasing or refinancing high end Sonoma County Real Estate?
• Are you looking to stay more liquid with your down payment or equity?

A jumbo mortgage might make the most sense for you depending on your current loan amount or how much house you are looking to purchase. Jumbo loans are not sold to Fannie Mae and Freddie Mac the way conforming mortgage loans are and as a result these programs are slightly more costly than standard conventional mortgages.

Jumbo Mortgage Benefits:

• Chose from 30-, 15-, 5-,7,3- year loan terms including fixed and adjustable rates
• Finance up to 80% loan to value
• Loan amounts to $1.5 million

Learn how to search for the best interest rates on jumbo mortgages. Jumbo loans offer a long-term mortgage solution for clients in excess of standard midsize homes.

Jumbo Mortgage Highlights:

• Rates most competitive on 5 – year and 7- year loan programs
• Mid credit score needed only 740
• Finance up to 65% loan to value on a second home/vacation property

How Jumbo Mortgages Work:

• Monthly payment could be based on principle and interest or interest only
• Debt to income ratios maximum of 40%
• Up to 18 months of reserves required for financing

As an alternative to conventional mortgages or FHA mortgages, jumbo mortgages can bridge the gap to successfully closing escrow on a purchase or refinance. Jumbo mortgages have some of the tightest loan qualifying standards in the industry and offer flexible financing for those who can qualify for this type of debt structure. Begin researching your next jumbo loan by getting a free no obligation online mortgage prequalification today. Jumbo mortgages are being originated throughout Sonoma County.