If the house of your dreams is located in a pricier neighborhood, you may find that a Conventional loan just isn’t enough. In this case, you likely need to think not just big, but jumbo! As in, a jumbo mortgage.
A jumbo mortgage is a type of financing featuring a higher loan amount than the conforming loan limits set by the Federal Housing Finance Agency. Jumbo mortgages are perfect for buyers looking for luxury homes or those located in an area where housing is more expensive.
If you have a high credit score, low debt-to-income ratio, and a sizable down payment, a jumbo loan may be your best bet for securing that house you can’t stop dreaming about.
Why Go Jumbo?
A jumbo loan gives you more purchasing power. At Cardinal, we offer Jumbo loans for amounts up to $2M.
Competitive interest rates
Credit scores as low as 660 accepted (depending on occupancy and property type)
Purchase or Refinance
Fixed rates only
Available for investment properties