A&D Mortgage's Prime Jumbo loan is a financing option for homebuyers looking to purchase luxury properties and homes that fall outside of standard loan guidelines. It's a solution for those who cannot qualify for an agency loan due to the high price of their home.
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Prime Jumbo loans are mortgages specifically designed for high-value properties. Conventional loans top out between $726,200 and $1,089,300 depending on the county. If your client needs a mortgage for something more expensive than Conventional loans can cover, they need a Prime Jumbo loan.
There are many reasons why your borrowers might consider a Prime Jumbo loan, such as
Prime Jumbo Blue provides wider eligibility and allows Investment properties, while Prime Jumbo Red allows gift of equities and properties in agricultural zoning.
Every type of mortgage has a limit on how much someone can borrow for a given property. Conventional loans, also called conforming loans, max out at a little over $726,200 in most areas. Prime Jumbo loans have much higher limits and are designed for high-value properties.
Prime Jumbo loans have more strict qualification requirements than conforming loans, but A&D has flexibility.
Interest rates for Prime Jumbo loans are competitive with the rates for Conventional loans. The interest rate will vary based on each borrower’s unique financial situation, the property’s location and type, and the specific loan program.
