Are you looking to purchase a high-value property or refinance an existing mortgage that exceeds conventional loan limits? At Simply Approved Mortgages, we specialize in providing tailored jumbo loan solutions to meet your unique needs. With our expert guidance and competitive rates, you can make your home financing dreams a reality.
Jumbo loans are specialized mortgage products designed for properties that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). If you’re purchasing a luxury home or a property in a high-cost area, a jumbo loan provides the financing you need without the restrictions of conventional mortgages.
Disclaimer: Advertised rates and fees depend on borrower qualifications and market fluctuations.
Higher Loan Amounts:
Flexible Terms:
Competitive Rates:
Luxury Home Financing:
No Private Mortgage Insurance (PMI):
At Simply Approved Mortgages, we operate with a 1.5% fee, significantly below the industry standard. This ensures more savings for borrowers without compromising service quality.
Disclaimer: Simply Approved Mortgages complies with all state and federal licensing requirements that we are licensed in.
Loan Amount:
Credit Score:
Debt-to-Income Ratio (DTI):
Down Payment:
Cash Reserves:
Jumbo loans differ from conventional mortgages in terms of qualification and loan structure. Here’s how they work:
Higher Loan Limits:
Customized Underwriting:
Flexible Interest Options:
Primary and Secondary Residences:
| Feature | Jumbo Loans | Conventional Loans |
|---|---|---|
| Loan Limits | Above conforming limits ($726,200-$1,089,300) | Up to conforming limits |
| Down Payment | 10%-20% | 3%-20% |
| Credit Score | Minimum 700 | Minimum 620 |
| PMI Required? | No | Yes, if down payment is below 20% |
| Property Types | Luxury homes, vacation, or investment properties | Primary residences only in many cases |
Gather Documentation:
Get Pre-Approved:
Your Mortgage Journey Starts Here:
Close Your Loan:
At Simply Approved Mortgages, we offer a wide range of mortgage products tailored to meet your needs:
👉 Explore these options today and find the perfect mortgage solution for your needs!
With our industry-leading 1.5% fee, compared to the standard 2.75%, we save you thousands while offering competitive rates tailored to your needs. Learn More.
Our team of seasoned professionals is dedicated to simplifying the mortgage process, providing personalized solutions, and ensuring you feel confident every step of the way.
We prioritize honesty and clarity. From disclosing every detail upfront to ensuring no hidden surprises, we build trust through our commitment to your financial success.
Most lenders require at least 10%-20% down, depending on the loan amount and credit profile.
Yes, jumbo loans are available for primary residences, second homes, and investment properties.
Jumbo loan rates are slightly higher than conventional loans due to the increased risk for lenders. However, competitive rates are available for well-qualified borrowers.
No, jumbo loans do not require private mortgage insurance (PMI), even with lower down payments.
Yes, refinancing options are available for existing jumbo loans or converting a conventional loan to a jumbo loan if the balance exceeds conforming limits.
Take control of your home-Take the guesswork out of your home-buying journey. Use our Mortgage Calculator to estimate your monthly payments and make informed financial decisions.
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Simply input your details and see how much equity you could access today. If you have questions or need assistance, our team is here to guide you every step of the way.
Get a free credit score check to understand where you are and how to move forward.
Small changes in your credit score can lead to significant savings on your mortgage.
Stay on top of your credit health with credit monitoring, so you can catch issues early and maintain a strong score.
Discover how your credit score affects your mortgage options and rates. Plus, get personalized offers through our partner services to help you find the best loan for your financial situation.
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Remember that a good credit score can lower your interest rate on your mortgage.
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
Reduce your monthly payment or loan term while unlocking the full potential of your home’s equity!
Unlocking the American Dream, One Home at a Time
NMLS# 2620881 | NMLS Consumer Access Record