If you have good credit, but don’t have enough funds on hand to bring your home loan amount under the FHFA’s current conforming loan limit, a jumbo home loan might be the right option for you.

Highlights include:

• Higher purchase limits allow borrowers to purchase more home

• Convenience of one loan for the entire loan amount, even on larger, more expensive properties

• Jumbo loans are available for primary residences, second homes or rental properties
  - Higher down payment requirements for second homes and rental properties

• Jumbo mortgage rates are typically higher than Conventional mortgage rates for conforming home loans and require larger down payments

• Jumbo loans are available in the form of a fixed-rate mortgage or an adjustable-rate mortgage (ARM)

• Jumbo loans are available in the form of VA loans, Conventional, and even renovation loans