Jumbo Loans

Creative solutions for larger loans.

Finance Options for Loans Beyond Conventional Terms

A jumbo loan can help you purchase your dream home. Finance your primary home, second home, or investment property with the high limits of a jumbo mortgage. Also called a non-conforming loan, jumbo loans finance properties in higher price ranges where loan amounts exceed conforming limits set by the Federal Housing Finance Agency (FHFA).

For Loan Amounts Greater than Your Area’s Conforming Limit
Wondering what loan amount requires a jumbo loan instead of a conventional one? It depends on your area. The FHFA sets these limits and publishes them on their website. In most of the U.S., if you want to finance more than $548,250, or $822,375 in designated high-cost areas, you will need to use a jumbo mortgage. Speak to a RoundPoint Mortgage Servicing Corporation Loan Officer today about your home financing options. 

Jumbo Loans Have Stricter Guidelines
The specific guidelines vary depending on lender, but in general jumbo home loans require larger down payments and stronger credit scores. They are designed for credit-worthy borrowers with larger incomes who can afford the higher monthly mortgage payment. Jumbo mortgages also coincide with mortgage rates that are higher than conventional loans. 

Never Pay Mortgage Insurance on Your Jumbo Mortgage
Yep, you read that right! Regardless of what amount you choose to put down, a jumbo mortgage never requires monthly mortgage insurance. This is because the stricter credit and underwriting guidelines reduce the risk to the lender that a borrower will stop making payments. 

Use a Jumbo Loan to Purchase, Refinance, or Get Cash-Out
Jumbo mortgages aren’t just for new home purchases! You can refinance your current home with the higher limits of a jumbo loan, or even get cash-out to use how you wish. Since all mortgage rates are historically low, now is a great time to discuss your refinance options with a local loan officer. Find out if a jumbo refinance can help you lower your monthly mortgage payment, get cash-out, or more! 

We Offer Both Fixed and Adjustable Rate Mortgage (ARM) Jumbo Loan Options
While 30-year fixed rate home loans are always the most popular, RoundPoint Mortgage Servicing Corporation’s jumbo mortgages have loads of term options. If you’re not planning to stay in your home for more than five years, an ARM may be right for you. These come along with lower mortgage rates but less monthly payment stability. Contact your local loan officer to find out what jumbo term is right for your situation.