What Are Jumbo Loans?
Jumbo loans are mortgage products designed for financing high-value properties that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. These limits vary by location and they change annually. When a property’s purchase price is above this threshold, borrowers need a jumbo loan to secure financing. These loans are commonly used in luxury markets or high-cost areas such as major metropolitan cities and affluent suburbs.
Why They’re Beneficial
Jumbo loans provide access to the full financing required to purchase or refinance more expensive real estate without needing to combine multiple loans. They offer flexible repayment terms and competitive interest rates, though typically with more stringent qualification criteria. Borrowers may benefit from portfolio lending, meaning the lender retains the loan instead of selling it—giving them more control over underwriting and customer service.
These loans are ideal for buyers who want to purchase a dream home, invest in luxury property, or refinance an existing high-value loan for better terms. While they require a higher down payment—usually between 10–20%—and a strong credit history, they eliminate the need to liquidate investments or cash reserves to cover a large purchase in full.
Who It’s For
Jumbo loans are best suited for:
Ray Campbell assists clients with navigating the complex documentation and financial vetting required for jumbo loans. His experience ensures a smooth and timely process, especially when discretion, speed, and precision are paramount.
