Jumbo Loans 

• These are mortgages that are over $359,650 (with the exception of AK & HI) and are considered non-conforming by Fannie Mae or Freddie Mac.
  Fannie Mae and Freddie Mac are two federally chartered organizations that purchase the underlying securities from mortgage originators. The rates may have a premium adjustment and may require additional restrictions.
• You may want to consider combining two loans to avoid financing a jumbo loan.
  Example:
  80/20 (one loan for 80% and one loan for 20%)
  80/10/10 (one loan for 80% and one loan for 10% w/ 10% down)
• I have many lenders that offer jumbo loans. These can vary from fixed rates, arms, or interest only.
  The loan documentation on these loans can vary from full documentation, stated income, Fast & Easy, Reduced Documentation, or Stated Income/Stated Asset.
• I also have lenders that will finance 100% of the purchase price.
• Seller contributions are available for closing costs on jumbo purchase.