A jumbo mortgage is any single loan amount over the conforming loan limit which is currently $424,100 for a one-unit property in most of the United States.
• allows the purchase of a more expensive home
• no private mortgage insurance (PMI) is required with a 20% down payment
• interest on loans up to $1 million may be tax deductible
For borrowers looking to purchase or refinance a home with a mortgage amount that is greater than $424,100 (for a single-family home in most areas of the United States), jumbo loans are a solution. Contact one of our licensed loan officers today to apply!