Georgia
Jumbo Home Mortgage Loans
You can call our Georgia mortgage brokers Call Now 808-357-5326
or appy online. Our licensed mortgage
brokers will get you the best rate on a Georgia jumbo loan for
your luxury home. There is no obligation.
* Available up to 4 million dollars.
* Construction, purchase, refinance or refinance with cash-out
O.K.
* We are the Georgia luxury home specialists!
Programs range from "Interest Only" Libor
Loans to Fixed Rate Mortgages. Each product has a unique advantage
to the homeowner so every option should be given the necessary
time for analysis.
Jumbo mortgages are categorized as loans in excess
of $322,700.00 for single-family residences
The interest rate on our Jumbo Mortgages are nearly
as low as our conventional Mortgages. Another way to get the best
rate is to consider an Adjustable Rate Jumbo Mortgage. These are
frequently much lower, depending on short term rates. Jumbo Mortgages
are our specialty!
Home loans are classified in a wide variety of ways.
They can be classified by the amount loaned, whether the interest
rate can be adjusted or not, the length of the payback period
and so on. A fairly common and simple term to understand is the
jumbo loan.
A jumbo loan, is a loan that exceeds the maximum
dollar amount guidelines set by FANNIE MAE, for a single family
loan limit. Effective January 1st, 2005, this limit is $359,650
in all states except AK and HI. The limit is $539,475 in AK and
HI. Most lenders use the Fannie may guide when underwriting loans
over these set limits.
A jumbo loan is simply a mortgage in excess of the
amounts set by government backed agencies that buy or guarantee
loans. Companies such as Freddie Mac, Fannie Mae, HUD, etc. will
guarantee the purchase of a loan from a lender if certain conditions
are met. A discussion of those conditions is beyond this article,
but one of them is the amount being borrowed. Depending on the
agency in question. If the amount you are borrowing is less than
this amount, then it is known as a conforming loan. If you need
to borrow more, the loan is known as a non-conforming loan or
"jumbo" loan.
Given the higher risk from the perspective of the
lender, you can expect to be treated a bit differently. In this
case, lenders are going to charge higher interest rates than you
would be able to get with a conforming loan. Before you panic,
keep in mind we are talking about a quarter of a point in interest.
For example, a conforming loan for $300,000 may have an interest
rate of 5.5 percent whereas the same borrower will have to pay
5.75 percent if they borrow $800,000