Jumbo Home Loans - Vision Home Mortgage

Vision Home Mortgage - Offering Jumbo Loans in Nevada

The Lowdown on Jumbo Loans...

Exploring Jumbo Loans

A Jumbo loan, or Jumbo Mortgage, is a loan that exceeds the county loan limits for that area. Jumbo loans are considered non-conforming since they do not follow the standard guidelines set forth by Fannie Mae and Freddie Mac which means that the bank must hold onto the mortgage for the life of it. Due to Jumbo Loans being riskier than conforming loans, borrowers can be subject to more scrutinous underwriting and may have higher borrowing costs associated. Most lenders will require a second appraisal on loan amounts over $1,000,000.

Types of Jumbo Mortgages

  • Purchase Loan
  • Refinance
  • Cash-out Refinance
  • Reverse Mortgage

Jumbo Mortgage Loan Limits

The loan limit starts at $1 above your state’s conforming loan limit and goes as high as the lender will allow. You can find your state’s conforming loan limit at Conforming Loan Limits

Jumbo Mortgage Overlays

Since Jumbo Loans do not follow the standard guidelines by Fannie Mae and Freddie Mac, lenders usually set up their own additional guidelines known as “Overlays”. As a mortgage broker, we have access to multiple lenders who offer flexibility on their Jumbo Loan products. Since these guidelines can vary by the lender, it is essential to speak with a mortgage professional to find the best program that fits your jumbo needs.

Why a Jumbo Loan?

There are many benefits, including:
financing offered up to 10 million; the convenience of one loan for the entire loan amount instead of having multiple mortgages; competitive pricing… and more.

  • Fixed Rates
  • Adjustable Rate Mortgage (ARM)
  • Reduced Lender Fees
  • Jumbo & Super Jumbo Loans
  • Terms from 5 to 30 Years