Jumbo Loans

Jumbo Loans in California

For borrowers who qualify for mortgage loans outside the conforming loan limits of Fannie Mae and Freddie Mac, jumbo loans are an alternative that can provide the high figure funding needed for a luxury home purchase or refinancing transaction.

Home Loan Solutions offers Jumbo loans in California to qualified borrowers. In our opinion, the criteria for qualifying Jumbo has become less stringent than in years past.

After the Financial Crisis of 2007-2008, lenders scaled back on furnishing Jumbo loans; Fast forward to today and they are more popular than ever because housing prices have recovered. In most cases, Home Loan Solutions are able to close Jumbo transactions in 30 days or less.

Basic parameters to qualify for today’s jumbo mortgage in California:

• Bring in a down payment of as little as 10 percent for a purchase, or refinance
• Document 2 years of employment and income
• Ensure your monthly mortgage payment does not exceed up to 45 percent of your gross income – we can go to 50% in certain cases

One prevalent myth is that jumbo loan interest rates are significantly higher than other mortgage products. This is not always the case; in fact, your jumbo loan interest rate can be almost as low as the national average for a fixed rate mortgage.

If you believe you qualify for a jumbo loan mortgage, Home Loan Solutions will be glad to discuss this option with you. Jumbo loans in California are still a possibility for the right type of borrower; if you meet the above criteria, we welcome your inquiry.