When reviewing the home mortgage marketplace, many homebuyers don’t consider jumbo mortgage lenders. That’s because of the limited visibility of jumbo loans within the marketplace. Few buyers have a clear understanding on jumbo loans and mortgage lenders. And so, to provide some insight to the marketplace, we’re highlighting what you need to know about jumbo mortgage lenders.
Jumbo Loans Help Buyers Afford High-End Properties
A jumbo loan offers a level of flexibility not provided by conforming loans. While conforming loans are restricted to the amount of $424,100, jumbo loans exceed this amount. They provide buyers a foundation on which to explore the full potential available to them within the marketplace.
Jumbo Rates Can be as Affordable as Conforming Loans
Homebuyers can consolidate their long-term costs by using a jumbo loan to buy a property. Jumbo loans have attractive interest rates right now. Getting one jumbo loan versus a conforming loan with a second mortgage can offer reduced monthly costs to the buyer. But it’s important to work with jumbo mortgage lenders that are specialists in this area to mitigate the complexities of the loan structure.
Experience a Crucial Element in Securing a Loan
Only by working with lenders that have experience in negotiating jumbo loans for their clients can a homebuyer reduce their costs and secure their ideal loan. This process requires buyers to search for lenders that understand the restrictions in place within the current mortgage marketplace and to help the buyer navigate the market successfully while reducing costs over the long-term. It’s part of the reason that so many buyers are now choosing the Mortgages Diversified Team at Summit Mortgage Corporation for their jumbo loans.
Our trusted team is available around the clock to guide buyers in choosing their ideal jumbo loan structure. To learn more on your full range of options, call our experts today!