Jumbo Loans
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Key Points
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Down payment as low as 10%
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Lower interest rates than the big banks
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Credit Score of 680+ (recommended)
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Loan Amounts up to $3 million
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Fast closings and great service
*see below for details
For borrowers seeking to purchase a higher-priced or luxury home, the process used to be complex and stressful. Thankfully Arizona Lending Group works to make the jumbo mortgage accessible to as many Arizonans as possible, with our same industry-leading rates, turn times, and unparalleled client service. Let's explore the benefits of jumbo loans and how they can facilitate your journey to homeownership.
What is a Jumbo Loan?
A jumbo loan is simply a loan that exceeds the Conforming Loan Limit, which is set on an annual basis for each county in the United States by the Federal Housing Finance Agency (FHFA). These limits are put in place by Fannie Mae and Freddie Mac to keep the mortgage market stable and healthy.
Why would I need a Jumbo Loan?
The most obvious advantage of jumbo loans is that they allow borrowers to finance a more expensive home than a conforming loan would allow. With higher loan limits, jumbo loans enable you to dream big and purchase your dream home without being constrained by conventional financing options. This opens up a world of possibilities for luxury properties, spacious estates, or homes in highly desirable locations.
A unique benefit of jumbo loans at Arizona Lending Group is our competitive interest rates. While jumbo loans were once associated with higher interest rates and a more complex process than other loans, this is no longer the case. In many cases, our jumbo loan clients can qualify for similar or lower interest rates than many conventional borrowers, while also taking advantage of our other industry-leading turn times and unparalleled client service.
Finally, jumbo loans offer unique flexibility in terms of loan structure. Many of our partners can provide a range of options, including adjustable-rate mortgages (ARMs), interest-only loans, and fixed-rate mortgages with varying terms. This versatility enables you to select a loan structure that best aligns with your financial goals and preferences.